Why manage many when all you need is one? Consolidating your super means fewer fees and easier control of your money. It’s easy to do, and it makes sense.

Benefits of consolidating your super

Save money on fees

Why pay multiple fees to multiple funds? Having one fund means you’ll only pay one set of fees. Consolidate with NGS, where all profits are directed to members, and we always work to keep costs low.

Keep track of your super savings

It’s easier to keep track of your super when it’s in one place. You can view and manage your NGS account at any time through our Member Online portal.

Less administration

Consolidating your super means fewer emails in your inbox, leaving more time for you to enjoy. We’ll only send you the things that matter.

How to consolidate your super

To consolidate your super, simply log in to Member Online and go to the ‘Find my super’ section. If you prefer, you can download and complete our Transfer authority form, return it to us, and we will organise the transfer for you.

Member OnlineDownload form

Things to consider

Transfer existing insurance

Any insurance cover you have with your other super fund will effectively be cancelled when you move your account balance in that fund to NGS Super.

You may be able to ‘transfer’ your other insurance cover to NGS Super before consolidating your super balances. To apply, please complete our Insurance — Transfer form and wait for confirmation of acceptance of the insurance before requesting to consolidate your super.

To find out more read our Insurance guide.

Important^ — For any transferred insurance cover:

  • NGS Super’s terms, conditions and definitions apply and
  • you will only be able to claim in respect of health conditions that start after the date of transfer.

Insurance — Transfer form

^ If you already have symptoms of a health condition that may result in a claim, it may be better to leave some money in your old super fund and keep your other insurance cover in force.

Transfer employer contributions

Are your employer super guarantee (SG) contributions already being paid to NGS Super? If not, complete our Superannuation choice form and arrange for your employer to direct them to your NGS Super account.

If you don't do this, your other fund may continue to receive money from your employer, and set up another account for you where fees are likely applicable.

Superannuation choice form

Other factors should be considered when choosing a super fund. You should ask your fund for information about any fees or charges that may apply, or any other information about the effect this transfer may have on benefits like your insurance cover, before making a decision to consolidate your super.

If you apply to transfer your cover, please wait until you receive confirmation that we have accepted it before consolidating your super balance with us.
If you need help, please call us on 1300 133 177, Monday to Friday, 8am-8pm (AEST /AEDT).

What happens next

Once submitted, your consolidation request will take about 3–5 business days to process. When the transfer is complete, you’ll be able to view your combined funds through Member Online. Just click on ‘Account Activity’ on the menu board — your transfer will be displayed as a ‘Rollover/Transfer in’ transaction.

Find out how you could earn more super for retirement

If you had consolidated 5 years ago, how much more super might you have earned? With some assumptions made, we’ve provided estimates to illustrate the potential benefit of consolidating your super. Simply select you age group below:

Under 35 years of age

  NGS Super   Median Retail
Master Trust
Balance at start of period $50,000
Investment performance:
5yr return p.a. for balanced
investment option
(NGS: Diversified (MySuper))
7.56% [i]   6.72% [ii]
Admin fees p.a. $65 [i]   $92 [iii]
Insurance assumption:
premium p.a. for $450,000 life and
$190,000 TPD cover [iv], @ age 27,
constant each year;
no income protection cover
$100 [v]   $376 [v]
Estimated balances at end of period
(31 Dec 2020)
$70,950   $66,359
Difference between balances
(rounded to nearer $1000)
$5,000

This illustration shows how a super balance of $50,000 five years ago might have grown to 31 Dec 2020 with NGS Super, compared to the same balance over the same period in a median retail master trust.

It illustrates that a number of factors (including investment performance, insurance premiums and fees) can combine to produce a meaningful difference in superannuation balance outcomes in different funds over a relatively short period of time. Relevant factors are shown in the table below.

For simplicity, the illustration takes no account of any contributions (whether employer superannuation guarantee or member additional voluntary) and shows only what the outcome might have been based on the stated assumptions for the starting superannuation balance shown.

 

The illustration is an estimate only and does not represent the actual outcome that would have occurred for any particular person. ‘Median retail master trust’ refers to a group of super funds that include those run by the big banks and AMP. The details extracted are for the median of that group and do not relate to any particular fund. Past investment performance is not a reliable indicator of future performance. General advice warning
[i] NGS Super average 5 year return as at 31 Dec 2020
[ii] SuperRatings credit rate survey of Dec 2020 – SR50 Balanced median for Master Trusts
[iii] SuperRatings benchmarking report 2020 - Fee component for Retail Master Trust Median
[iv] Default NGS Plus life and TPD insurance covers at age 27 - NGS Super insurance guide 1 April 2020
[v] Chant West’s Apple Check report 2020

Other assumptions used in the calculator: 

  • No employee superannuation guarantee, additional after-tax or pre-tax contributions

35-54 years of age

  NGS Super   Median Retail
Master Trust
Balance at start of period $80,000
Investment performance:
5yr return p.a. for balanced
investment option
(NGS: Diversified (MySuper))
7.56% [i]   6.72% [ii]
Admin fees p.a. $65 [i]   $92 [iii]
Insurance assumption:
premium p.a. for $490,000 life and
$130,000 TPD cover [iv], @ age 45,
constant each year;
no income protection cover
$475 [v]   $756 [v]
Estimated balances at end of period
(31 Dec 2020)
$111,794   $106,568
Difference between balances
(rounded to nearer $1000)
$6,000

This illustration shows how a super balance of $80,000 five years ago might have grown to 31 Dec 2020 with NGS Super, compared to the same balance over the same period in a median retail master trust.

It illustrates that a number of factors (including investment performance, insurance premiums and fees) can combine to produce a meaningful difference in superannuation balance outcomes in different funds over a relatively short period of time. Relevant factors are shown in the table below.

For simplicity, the illustration takes no account of any contributions (whether employer superannuation guarantee or member additional voluntary) and shows only what the outcome might have been based on the stated assumptions for the starting superannuation balance shown.

 

The illustration is an estimate only and does not represent the actual outcome that would have occurred for any particular person. ‘Median retail master trust’ refers to a group of super funds that include those run by the big banks and AMP. The details extracted are for the median of that group and do not relate to any particular fund. Past investment performance is not a reliable indicator of future performance. General advice warning
[i] NGS Super average 5 year return as at 31 Dec 2020
[ii] SuperRatings credit rate survey Dec 2020 – SR50 Balanced median for Master Trusts
[iii] SuperRatings benchmarking report 2020 - Fee component for Retail Master Trust Median
[iv] Default NGS Plus life and TPD insurance covers at age 45 - NGS Super insurance guide 1 April 2020
[v] Chant West’s Apple Check report 2020

Other assumptions used in the calculator: 

  • No employee superannuation guarantee, additional after-tax or pre-tax contributions

55+ years of age

  NGS Super   Median Retail
Master Trust
Balance at start of period $100,000
Investment performance:
5yr return p.a. for balanced
investment option
(NGS: Diversified (MySuper))
7.56% [i]   6.72% [ii]
Admin fees p.a. $65 [i]   $92 [iii]
Insurance assumption:
premium p.a. for $50,000 life and
$40,000 TPD cover [iv], @ age 60,
constant each year;
no income protection cover
$320 [v]   $736 [v]
Estimated balances at end of period
(31 Dec 2020)
$141,700   $133,376
Difference between balances
(rounded to nearer $1000)
$8,000

This illustration shows how a super balance of $100,000 five years ago might have grown to 31 Dec 2020 with NGS Super, compared to the same balance over the same period in a median retail master trust.

It illustrates that a number of factors (including investment performance, insurance premiums and fees) can combine to produce a meaningful difference in superannuation balance outcomes in different funds over a relatively short period of time. Relevant factors are shown in the table below.

For simplicity, the illustration takes no account of any contributions (whether employer superannuation guarantee or member additional voluntary) and shows only what the outcome might have been based on the stated assumptions for the starting superannuation balance shown.

 

The illustration is an estimate only and does not represent the actual outcome that would have occurred for any particular person. ‘Median retail master trust’ refers to a group of super funds that include those run by the big banks and AMP. The details extracted are for the median of that group and do not relate to any particular fund. Past investment performance is not a reliable indicator of future performance. General advice warning
[i] NGS Super average 5 year return as at 31 Dec 2020
[ii] SuperRatings credit rate survey Dec 2020 – SR50 Balanced median for Master Trusts
[iii] SuperRatings benchmarking report 2020 - Fee component for Retail Master Trust Median
[iv] Default NGS Plus life and TPD insurance covers at age 60 - NGS Super insurance guide 1 April 2020
[v] Chant West’s Apple Check report 2020

Other assumptions used in the calculator: 

  • No employee superannuation guarantee, additional after-tax or pre-tax contributions

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