Consolidate your super
Reduce your fees and take control of your superWhy manage many when all you need is one? Consolidating your super is simple and makes sense. Consolidate with NGS, clean up your excess fees, take control of your money, and create the future you've been working for.
How to consolidate your super
To consolidate your super, simply log in to my.gov.au, and go to your linked 'ATO’ account. You can also download and fill out our Transfer Authority form, return it to us and we will organise the transfer for you.
Things to consider
Transfer existing insurance
Any insurance cover you have with your other super fund will cease 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 prior to requesting to consolidate your super balance.
To find out more read our Insurance Guide.
Important^: In relation to any transferred 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.
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 SG contributions into your NGS Super account.
If you do not do this, your other fund may continue to receive money from your employer, and may set up another account for you where fees are likely applicable..
Other factors should be considered when choosing a superannuation fund. You should ask your super fund for information about any fees or charges that may apply, or any other information about the effect this transfer may have on benefits such as your insurance cover, before making a decision to combine your super.
What Happens Next After submitting your consolidation request, it will take around three to five business days to process the transfer of your money to NGS Super.
Once the transfer is completed, you can view your combined funds by logging in to your Member Online account, then clicking on ‘Account Activity’ in the menu board. Your transfer will be displayed as a ‘Rollovers / Transfers in’ transaction.
Rather not submit your details online?
Download a Transfer Authority Form, follow the four simple steps and return your completed form via mail to NGS Super. We’ll take care of the rest.
For more information
Find out how you could earn more super for retirement
We’ve provided you with an estimate of how much more your super might have earned if, five years ago, you had combined super you may have with another fund with us. To do this, we’ve had to make some assumptions.
You can view the calculations by clicking your age group button 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)) |
6.25% [i] | 4.84% [ii] | |
| Admin fees p.a. | $65 [i] | $78 [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 (June 2020) |
$66,711 | $60,713 | |
| Difference between balances (rounded to nearer $1000) |
$6,000 |
This illustration shows how a super balance of $50,000 five years ago might have grown to 31 December 2019 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 30 June 2020
[ii] SuperRatings credit rate survey of June 2020 – SR50 Balanced median for Master Trusts
[iii] SuperRatings benchmarking report 2018 - 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)) |
6.25% [i] | 4.84% [ii] | |
| Admin fees p.a. | $65 [i] | $78 [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 (30 June 2020) |
$105,076 | $96,511 | |
| Difference between balances (rounded to nearer $1000) |
$9,000 |
This illustration shows how a super balance of $80,000 five years ago might have grown to 31 December 2019 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 30 June 2020
[ii] SuperRatings credit rate survey June 2020 – SR50 Balanced median for Master Trusts
[iii] SuperRatings benchmarking report 2018 - 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)) |
6.25% [i] | 4.84% [ii] | |
| Admin fees p.a. | $65 [i] | $78 [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 (30 June 2020) |
$133,091 | $121,958 | |
| Difference between balances (rounded to nearer $1000) |
$11,000 |
This illustration shows how a super balance of $100,000 five years ago might have grown to 31 December 2019 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 30 June 2020
[ii] SuperRatings credit rate survey June 2020 – SR50 Balanced median for Master Trusts
[iii] SuperRatings benchmarking report 2018 - 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
Benefits of consolidating your super
Save money on fees
Why pay multiple fees to multiple funds? Keeping your savings in one fund means you’ll only pay one set of fees. Consolidate with NGS where all profits are directed to members and we continually work to keep costs low.
Keep track of where you're at
When your savings are in the one place, it’s easier to keep track of how they’re performing. And you can manage your NGS account at any time through our Member Online portal.
Less administration
It’s hard to keep on top of things when you’re receiving communication from too many places. Consolidating your super means fewer emails in your inbox and more time spent doing the things you enjoy. NGS will only send you the things that matter.
Get advice for every stage of your life
NGS Super members have access to qualified and non-commission based financial planners, including over-the-phone limited advice* about your account, at no additional cost.
^ 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.
If you apply to transfer your cover, please wait until you receive confirmation that we have accepted your insurance before consolidating your super balance into your NGS Super account.
If you are concerned about this, please call us on 1300 133 177, Monday to Friday between 8:00am-8:00pm (AEST /AEDT).
* Limited financial advice covers one or two issues in isolation on topics such as investment selection and contribution levels. It does not take into account the member’s entire financial situation.