FAQs


How does SuperSortr consolidate my super funds?

We will establish a temporary staging account in your name with our preferred superannuation provider MLC.

From here we will organise a balance transfer from your lost and inactive super funds.

Once all funds have been received into your temporary staging account, we will transfer the total remaining balance to your nominated super fund.


Why do you use a Staging Account?

We use a staging account for efficiency purposes it, allows us to electronically access funds through the superannuation fund network and the Australian Taxation Office in order to consolidate into your nominated account


Why should I consolidate my super?

Your forgotten superannuation is being hit with different fees, such as life insurance premiums and investment and administration fees. Multiple super funds mean multiple fees and premiums being subtracted from your total balance. A number of your super funds may not be invested therefore, you may also be missing out on investment returns.


What happens to any insurance? I may have in the Super funds I am rolling into my nominated account?

You may lose any insurance cover attached to the superannuation accounts that you choose to consolidate into. If you are concerned about losing any insurance cover you should check with your current super fund provider to see if these insurances can be replaced or seek advice on how this cover can be maintained.


How do I pay for your service?

If you choose to consolidate all of your funds into your nominated account using our service, we charge a once off administration fee of $495. This fee is deducted from the recovered balance of your consolidated funds, so there’s no out of pocket expense.


Why should I Consolidate?

  • Multiple Superannuation accounts means multiple sets of fees associated with those accounts, which can add up to thousands over time. The longer you wait, the more fees you are going to pay.
  • Your various Super funds may not be currently invested. Merging your Super funds reduces paperwork, making it easier to track and manage your investments, rather than having your Super spread across several funds with a variety of investment options.
  • You may be unnecessarily paying for several insurance policies on multiple Super funds, for cover you may not need.


Where can I find my Tax File Number (TFN)?

Your Tax File Number is found on your income tax assessment, correspondence from the Australian Tax Office (ATO) or payment summaries from your employer. Alternatively you can contact the ATO on
13 28 61.