Set up one account you can keep track of
Your first jobs may create small contributions, but each new account can add another fixed fee and insurance premium. Create a myGov account, link the ATO and see what accounts are reported. Give new employers the same eligible fund details when that fund still suits you.
Use a personal email and mobile number so you do not lose access when a job or school account closes. Store the fund name and member number securely and check the first deposit after every new job begins.
Understand what is happening to the balance
A small balance can move for reasons other than investment performance. Employer contributions add money; contributions tax, administration fees and insurance premiums take some away; markets can move it in either direction. Open the transaction list and label each type so the statement stops looking mysterious.
Your investment option may be designed for people with decades until retirement, but do not choose purely from age. Read how much is invested in shares, property, bonds and cash, and how often negative years are expected. A long time horizon helps you ride out falls only if you can remain invested.
Make deliberate choices about insurance and scams
Automatic insurance is restricted for many members under 25 or with balances below $6,000 unless an exception applies or they opt in. That can prevent small balances being eroded, but it also means you should check whether you have cover rather than assume. Consider debts, dependants, health and the income you would need if you could not work.
Never give a caller or social-media contact your myGov password, verification code or identity documents. Promises to find, invest or unlock super are common ways to steal both money and identity. Navigate to the ATO or fund yourself and remember that early access is only legal in limited circumstances.
Quick reference
Key things to remember
- Give every employer the same fund details when it suits you.
- Read what insurance costs before opting in or out.
- A growth-oriented investment may suit a long horizon, but you need to accept market falls.
- Never share myGov credentials with someone offering to find or unlock super.
Put it into practice
Your next steps
- 01
Create a myGov account and link the ATO.
- 02
Check the first contribution from every new job.
- 03
Add a personal email to your fund account.
- 04
Learn what your investment option actually holds.
Check the source
Official information
Super and tax rules change. These primary sources are the right place to verify the details before you act.