The power of consolidation

Around 3 million people have more than one super account.¹ For some, this may be part of a financial strategy, for others though it could be as simple as they’ve forgotten about their other accounts or may not even be aware they exist. If you’ve had more than one job, there’s a chance you’ve got more than one super account.  

Combining all your super accounts is one of several strategic steps you can take to potentially simplify, strengthen and secure your retirement outlook for the better.

Things to consider before consolidating your super

Before consolidating all or part of any other super accounts you hold, you should carefully consider how this may have an impact on your existing insurance cover, contribution, and tax arrangements.²

You can find further information on considerations before consolidating your super in the FAQs below.

3 simple steps to consolidate your super

Finding all your super accounts and consolidating them into your Mercer Super account can be done in three simple steps – even if you don’t have any details of the other accounts.

Alternatively, call us and we can search for any other super accounts you may have. We can even consolidate them into your Mercer Super account over the phone. If you’re unsure of your other account details, our team can search for any other accounts you may have.

Before calling, please ensure you have two forms of identification on hand such as a drivers license, passport or Medicare card. Our team will use the details you provide to help locate any other accounts you may have.

You can use our phone-based consolidation service by calling our Helpline on 1800 682 525, Monday to Friday, 8am-7pm (AEST/AEDT).

Discover the Mercer Super difference

By combining any other super accounts you have into your Mercer Super account, your entire super balance can reap the benefits.

Frequently Asked Questions (FAQs)

Not yet a member – join Mercer Super

If you’d like to consolidate your funds, but you’re not yet a Mercer Super member, you can join our 850,000 plus members who are already enjoying the benefits of a fund that thinks global and acts local.
 

Read next

We’re here to help

^{1. As at 30 June 2022 the Australian Taxation Office has reported that around 3 million people have two or more superannuation accounts.}

^{2. Combining your super can be a significant financial decision. If you decide to combine all or part of your other super account(s), carefully consider how this may have an impact on your existing insurance, contribution and tax arrangements, fees or charges, or any other benefits you may lose. If you intend to claim a tax deduction on your personal contributions, you will need to provide your existing fund with a notice of intent to claim and receive confirmation it's been processed before combining your super. We recommend you seek financial advice before deciding whether to combine your super accounts.}

^{3. Mercer Super has been recognised with several SuperRatings awards, including SuperRatings’ highest platinum rating for both our Allocated Pension Division (now known as Mercer SmartRetirement Income) and Corporate Superannuation Division products. These products also received SuperRatings Platinum Performance awards, based on investment returns, fees, insurance, member servicing, administration and governance for 15 years. The rating is issued by SuperRatings Pty Ltd ABN 95 100 192 283 AFSL 311880 (SuperRatings). Ratings are general advice only and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and SuperRatings assumes no obligation to update. SuperRatings uses objective criteria and receives a fee for publishing awards. Visit superratings.com.au for ratings information and to access the full report. © 2023 SuperRatings. All rights reserved.}

^{4. After investment fees and tax, Mercer Super Trust’s analysis of Mercer SmartPath, with the exception of Mercer SmartPath – Born 2004-2008, all cohorts with members aged under 55 years returned at least 12% for the 2022/23 financial year (and invested for the full 2022/23 financial year). This compares to the median of all default funds reported in SuperRatings Fund Crediting Rate Survey – Default Options as at 30 June 2023 of 9.3%. Note: While Mercer Super did not feature in the official June 2023 survey, Mercer Super is captured in the revised data file. Based on Mercer SmartPath membership data as at 31 March 2023 and for members invested for the full 2022/23 financial year.}

^{5. Mercer Super Trust’s analysis of Mercer SmartPath (born 1974-1978), one of the largest cohorts, after investment fees and tax, compared to the median of all default funds reported in SuperRatings Fund Crediting Rate Survey – Default Options as at 30 June 2023. Note Mercer Super did not feature in the official June 2023 survey.} 

^{6. Chant West MySuper Default Fee Tables June 2023 – for $50,000 account balance.  Fees are for Mercer SmartSuper – SmartPath® (our MySuper product) at 1 April 2023 and the total includes administration, investment and transaction fees.  Chant West uses our 1964-1968 investment option for purposes of comparison with other MySuper funds – as this is the highest annual fee for our SmartPath options. You may pay less than this if you are in another SmartPath option or in an employer plan. For details on fees for each of our SmartPath options, or if you’ve chosen your own investment option(s), go to the ‘How Your Super Works’ Guide online. Fees and costs can vary from year to year. Past fees and costs are not a reliable indicator of future fees and costs. Fees and comparisons may differ for other investment options and account balances.}

^{7. Marsh McLennan announces $379 billion assets under delegated management (as of September 30, 2023 / end of 3Q23) for Mercer.}

_{IMPORTANT Please note that any information in this material regarding legal, accounting or tax outcomes does not constitute legal advice or an accounting or tax opinion and prior to relying and acting on this information it is important that you seek  independent advice from a qualified lawyer or accountant regarding this information.}

_{Issued by Mercer Superannuation (Australia) Limited ABN 79 004 717 533, Australian Financial Services Licence #235906, the trustee of the Mercer Super Trust ABN 19 905 422 981 (‘Mercer Super’). ‘MERCER’ and SmartPath are an Australian registered trademark of Mercer ABN 32 005 315 917. Copyright 2023 Mercer Superannuation (Australia) Limited. All rights reserved.}

_{Please consider the Product Disclosure Statement, Product Guide, Insurance Guide, and Financial Services Guide before making a decision about the product. Target Market Determinations for our products can be found here. If you are unsure of what action to take, seek professional advice from a licensed, or appropriately authorised financial adviser.}

_{Any advice contained in this document is of a general nature only, and does not take into account the objectives, financial situation or personal needs of any particular individual. Prior to acting on any information contained in this document, you need to consider the appropriateness of the advice taking into account your own objectives, financial situation and needs.}

_{The material contained in this document is based on information received in good faith from sources within the market and on our understanding of legislation and government press releases at the date of publication which we believe to be reliable and accurate. Neither Mercer nor any of its related parties accepts any responsibility for any inaccuracy. Past performance is not a reliable indicator of future performance.}