Choose the destination as if starting fresh
The largest or oldest account is not automatically the best one to keep. Compare each candidate on a like-for-like investment basis, using asset mix, long-term net performance and total annual fees. Include an outside alternative if neither existing account is competitive.
Check that the destination accepts current employer contributions and offers the investment option, access and service you need. Fund size, brand familiarity and a one-year return are weak substitutes for those details.
Give insurance equal weight
Record life, disability and income-protection cover in each fund, including premiums, definitions, exclusions, waiting periods and occupation classification. Decide which cover is useful and whether it can be increased or replaced before any rollover.
If a health condition has developed since old cover began, that policy may be difficult to reproduce. Keep it open until you have written advice or confirmation about the replacement. Paying one extra month of fees can be cheaper than creating a permanent cover gap.
Check the less obvious differences
Look for employer-funded fees or insurance, loyalty rules, defined benefits, pension options, advice services, ethical screens and investment transaction costs. Read the product dashboard and relevant disclosure documents, then ask the fund to clarify anything that will change after a full rollover.
Write a brief decision record showing why the chosen fund won and what trade-offs remain. This prevents a future switch from being driven by a new advertisement and gives you clear criteria for the next annual review.
Quick reference
Key things to remember
- Model fees at the future combined balance.
- Compare investment options with similar risk.
- Ask whether insurance changes after a large rollover.
- Check beneficiaries and contact details on the destination account.
Put it into practice
Your next steps
- 01
Build a short comparison table.
- 02
Rule out accounts with unsuitable restrictions.
- 03
Choose the investment option for transferred money.
- 04
Save the product documents used in your decision.
Check the source
Official information
Super and tax rules change. These primary sources are the right place to verify the details before you act.