Financial Planning DIY Guide by Sam Henderson

Author:Sam Henderson
Language: eng
Format: epub
Publisher: Wiley
Published: 2011-10-17T00:00:00+00:00

Moving from one fund to another: super choice

It is simple to move your money from one super fund to another — this is called a superannuation rollover. A rollover is not considered a contribution to super as the funds are already inside the superannuation system. Most funds will have a standard rollover form for you to complete to allow you to roll your money in or out of their fund.

Superannuation choice was introduced some years back and unless you have an employment contract that prohibits choice or you have a defined benefit scheme that is exempt from the super choice legislation, then you will be eligible to choose a fund.

You employer is supposed to give you a superannuation choice form to allow you to choose your fund, giving you more freedom as to where your work superannuation is directed. I’ll refer you again to the ATO website <www.ato.gov.au>; type the term ‘superannuation choice form’ into the search engine in the top right of the website to obtain the form.

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