If you've had a few jobs, you might have ended up with more than one super fund. This could mean you are paying multiple fees. Combining your super into one account can help you fix this.
Did you know that you can use myGov to transfer your balances between super funds?
Just remember to consider the impact of any loss of insurance cover or other benefits before closing any super fund accounts you may have. Transferring the entire balance of your super account to Professional Super will mean that your old account will be automatically closed. You can only transfer your entire balance via myGov.
How to access myGov to transfer your super
myGov is a portal where you can access government services online securely. One of the services you can link is the Australian Tax Office (ATO), if you do this, you can use the ATO to find and manage your super.
Once you have logged in, you will see the services you've connected. Select the ATO service
. If you don't see this, you may need to link the ATO. Check the myGov website
for more information on how to do this.
2. Manage your super
Now you are inside the ATO portal, select Super > Manage > Transfer super.
3. Transfer super from old and lost super funds
All your super funds will be displayed including any lost super held by the ATO. Select all the super funds you would like to transfer to Professional Super.
Professional Super is listed as "The Trustee for Tidswell Master Superannuation Plan" so keep this one unticked.
If you’re wondering why it’s called Tidswell Master Superannuation Plan, that’s our head fund. You can check that you’ve got the right fund by matching the Fund ABN on the ATO to the one on your pre-filled super choice form
4. Transfer into Professional Super
Once you click continue, select "The Trustee for Tidswell Master Superannuation Plan" to transfer funds into Professional Super.
Tip: If you don't see this option, you may need to transfer your super via a form instead. This can happen if you’ve recently joined Professional Super and the ATO has not yet synced your data.
But don't worry, it's easy to complete the form! You can download it here
and you can use all your old super fund information on myGov to complete the paper form. If you need a step-by-step guide, we have written one here
5. Personal details & review
Most of your details would be pre-filled as you have given myGov this information. Double check that everything is correct, and submit the form.
And that is it! You have successfully organised your super.
One last thing…
To make sure all your future
employer contributions are paid into Professional Super, you will need to tell your employer about your super account. All you need to do is hand in the pre-filled super choice form that was emailed to you, or login and go to ‘Tell Your Employer’
to get another copy.