Consolidating accounts within Australian Retirement Trust

You may wish to speak to a financial adviser to help get the most out of your super. For information about your QSuper account visit the QSuper website. For information about your Super Savings account visit the Australian Retirement Trust website.

The insurance cover you have with the account you are closing will be cancelled, so it's important to wait until you receive confirmation from us that your insurance has been transferred before you transfer your super money between accounts. Of course, if you are eligible, you can apply, to change, or cancel your cover at any time.

If you are receiving insurance benefit payments or have notified us of an insurance claim, you should consider waiting until your claim is complete before you close your account, as this may impact being able to progress your claim. A previous insurance claim may be considered when assessing any future claims. Refer to the QSuper Insurance Guide (pdf) and Super Savings Insurance Guide (pdf) for more information.

You should wait until your insurance change request is completed before you consolidate your accounts.

You can transfer some or all of your insurance cover using the relevant form above (maximum limits apply). When an account is closed, any insurance cover remaining on that account will be cancelled. Refer to the QSuper Insurance Guide (pdf) and Super Savings Insurance Guide (pdf) for information about the limits that apply. Of course, if you are eligible, you can apply, amend, or cancel your cover at any time.

This will not continue if you transfer your insurance to another account (or close your account).

Unless you have previously elected otherwise, insurance cover is provided to all eligible members as part of their superannuation accounts, and the premiums you are charged in each account are based on the type and amount of insurance cover you have. For members with multiple accounts, this may mean you could hold similar insurance products at the same time – and be paying multiple sets of premiums at the same time.

It is important to consider your insurance needs at your different life stages and the impact of the any premiums on your retirement balance to determine if your total cover and premium cost is still right for you. You should seek financial advice before making a decision to keep or cancel insurance cover.

You cannot transfer a Defined Benefit without first closing and moving your benefit into an Accumulation account. You should seek financial advice before deciding to close your Defined Benefit account as there could be an impact on your retirement benefits.

If you have a QSuper Lifetime Pension, your purchase is permanent after the six-month cooling-off period so you will not be able to voluntarily exit the product except in the case of a terminal medical condition. You should seek financial advice before making a decision.

There are a couple of steps you'll need to follow to do this as you cannot add money directly into these accounts. You can transfer all or some of your money from your Super Savings Income account to your existing QSuper Accumulation account by completing a Transfer your Super Savings account(s) to your QSuper Accumulation account form (pdf).

Once your money is received in to your QSuper Accumulation account, you can then open a QSuper Income account and/or Lifetime Pension via Member Online or by completing the application form at the back of the QSuper Product Disclosure Statement for Income account and Lifetime Pension (pdf).

You should seek financial advice before deciding to close these accounts as there could be an impact on your retirement benefits and any Age Pension entitlements.

There are a couple of steps you'll need to follow to do this as you cannot add money directly into these accounts. You can transfer all or some of your money from your QSuper Income account to your existing Super Savings Accumulation account by completing a QSuper account(s) to Super Savings Consolidate your super form (pdf).

Once your money is received in your Super Savings Accumulation account, you can open a Super Savings Income account via Member Online or by completing the Income account request form at the back of the Super Savings Product Disclosure Statement for Income Account and Lifetime Pension (pdf).

You should seek financial advice before deciding to close these accounts as there could be an impact on your retirement benefits and any Age Pension entitlements.

Each product that you hold has its own fees and costs. These costs are outlined in the applicable Product Disclosure Statement and associated guides for the product. Consolidating your accounts into a single account prevents you from having multiple set of fees and enables you to feel on top of your super with only one super account to manage. You should seek financial advice before making a decision to consolidate your accounts and to consider if the timing is right and if you will lose access to benefits such as insurance or pension options, or if there are tax implications.

Yes. Your super will be reinvested on the same day in the investment strategy for future contributions of the account you are transferring to.

You will need to move your money to another QSuper investment option before transferring it to another account. You can do this in Member Online.

You can do this by completing and returning a QSuper account(s) to Super Savings Consolidate your super form (pdf) or Transfer your Super Savings account(s) to your QSuper Accumulation account form (pdf). If you have insurance cover, make sure you leave enough money in your account to pay for your premiums, so it doesn't get cancelled. Refer to your relevant Insurance Guide for more information about when insurance cover may stop.

If you transfer your super between your Super Savings and QSuper accounts, you will lose any potential Retirement Bonus that could be payable when starting a Retirement Income account or Lifetime Pension with the super in the account you closed.

Check your potential QSuper Retirement Bonus and your potential Super Savings Retirement Bonus before deciding to transfer money between accounts.

You may wish to claim a tax deduction for personal contributions made to the account that you're closing prior to the transfer. You can do this via QSuper Member Online for QSuper account holders or Australian Retirement Trust Member Online for Super Savings account holders.

If you are transferring your QSuper Accumulation account to your Super Savings Accumulation account, any surcharge debt you have will be deducted from your account when your accounts are consolidated.