It's easy to take ANZ Smart Choice Super with you when you change jobs.
The choice of where your super goes is up to you
It's worth taking the time to consider whether you'll elect to go with a new fund (like your new employer's nominated super fund) or a super fund that you choose. Many Australians believe their super contributions must be paid into a fund chosen for them by their employer.
Research from a 2019 Investment Trends reportdisclaimer found more than a third of Australians who'd changed jobs believed they didn't have the option to choose their own super fund when taking up a new role.
Unless you're covered by certain industrial agreements or are part of a defined benefit super fund, you can make a choice, either to stay with your current fund or have your contributions paid into your new employer's default fund. On 3 September 2020, the Federal Government passed legislation to allow all employees under a new workplace determination or enterprise agreement to choose their own super fund. This means an employee will be able to choose their own fund if they're employed under the new agreement made on or after 1 January 2021.
Keep in mind that if you don't provide your new employer with the details of your chosen fund, then your employer will pay your contributions into their default fund. This could mean you may be paying multiple fees.
Taking your ANZ Smart Choice Super account with you
ANZ Smart Choice Super is designed to be flexible and go with you as you move through life. Changing jobs can be an exciting time, we also know it can be busy with a lot to do and new things to focus on. That's why we've made it easy to take your ANZ Smart Choice Super account with you throughout your career and keep your hard-earned super money all in one place. Whether you're changing jobs or just getting on top of your super, we can help you in two easy steps.
Taking your ANZ Smart Choice Super account with you is easy
- Let your employer know you want your super paid into your ANZ Smart Choice Super account using the form below or via the ANZ App.
- Get your super sorted. Round up your super accounts in a few steps through the ATO website via myGov and take your ANZ Smart Choice Super with you from job to job.
That's it. Super. Easy.
The easiest way to share this information is by logging in to your ANZ Smart Choice Super account, via ANZ Internet Banking.disclaimer Check that your details are up-to-date before downloading your pre-filled Super Choice form. Once you've signed it, you can email it to your payroll or human resources department or print it out and hand it in.
Alternatively, you can fill out the choice of super fund form and email or hand it to your employer.
Your employer must start paying your super contributions into your chosen fund within two months of receiving this information.
Search for any super you may have forgotten about
While it's top of mind, there are a couple of simple steps you can take to help organise and make the most of your super.
You can search for your super and bring it all together into your ANZ Smart Choice Super account through the ATO website via myGov.
How to search for your super though the ATO via myGov:
- Go to my.gov.au
- Log on or create an account
- Link your myGov account to the ATO
- Follow the prompts to bring your accounts together
- Consent to a SuperMatch search
- Select the accounts you would like to bring together
Please note, moving funds (including terminal medical condition payments) may have taxation, investment and insurance implications. We recommend you consult a financial adviser.
Things to consider
If you're considering changing super funds as well as jobs, there are many things to consider and it pays to weigh up your options carefully.
Changing your super fund is a big decision. Superannuation is a long-term investment and the choices you make now can have a big impact on the amount of money you have to support yourself in retirement.
It's also important to check whether you'll lose any existing insurance cover after changing jobs and whether your remaining insurance cover is sufficient.
If you have a financial adviser, we recommend that you speak with them before making any decisions.
Benefits of ANZ Smart Choice Super
Over the medium to long-term (three to five years) ANZ Smart Choice Super has exceeded its investment objectives for all lifestage funds. Find out how ANZ Smart Choice Super has performed.
Smart investments that adjust with your age
ANZ Smart Choice Super's investment experts select a mix of investments which adjust based on your agedisclaimer– so the hard work is already done.
Watch your super grow
Stay in control of your super and watch it growdisclaimeralongside your other ANZ bank accounts through;
Insurance cover to suit
You can have peace of mind with a range of insurance options to have you covered if the 'unexpected' happens. What cover will I get?
Want to know more?
Knowledge is power. Educating yourself about your retirement savings, including your investment options and ways you can boost your balance, is one of the smartest financial choices you can make. Find out more about how you can keep track of your ANZ Smart Choice Super account online.
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