9th Nov 2009 by Tobias John Sterling
Because different employers use different superannuation funds, it's common for Australians to have money in more than one superannuation fund. For ease of administration and to avoid possible extra fees and charges, it can be a good idea to consolidate super into just one fund rather than leaving it in multiple funds. Money can be transferred from one fund to one other fund via the use of a the 'Request to transfer whole balance of superannuation benefits between funds' form (also known as the portability form). Once completed this form, together with proof of identity, can be sent either to the fund that the money is to be transferred from, or the fund that the money is to be transferred to, and the transfer will be effected.
The above mentioned form can be downloaded from the Australian Taxation Office website at http://www.ato.gov.au/.
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