What it is
A “rollover” is the process of moving Superannuation monies from one Superannuation fund, to another Superannuation fund.
Rolling over and consolidating superannuation accounts can simplify life, as you reduce the amount of potential paperwork. It also makes it easier to keep track of your superannuation, as all super savings will be in the one account. Cost savings may also be achieved, as there will generally be one lot of Administration and Account fees. In addition, the consolidation may also help reduce multiple insurance premiums, associated with multiple superannuation accounts.
The potential risks and implications vary from client to client and therefore each individual situation needs to be assessed accordingly. Should you wish to obtain more information on this, please contact us.
The information on this topic is general in nature and does not constitute advice. It is intended as points to be discussed with me, should you wish to do so.