The Problem With Multiple Super Funds

Quick summary

🧩

Multiple funds

✓Each fund charges fees

✓Insurance drains small accounts

✓We consolidate & claim all

Video coming soon

ALITAX · Bilal Jivraj — Registered Tax Agent 25287564. Original guidance from 10+ years of DASP and tax casework.

Changed jobs a few times in Australia? You may have several super accounts without realising — and that quietly costs you money.

The hidden problem with multiple funds

Each super fund charges its own administration fees, and many also charge for insurance you may not need. With several small accounts, those fees come out of every account at once — so a handful of small balances can be slowly eaten away until there’s little or nothing left to claim.

Small accounts disappear

If you have several low balances, fees and insurance premiums can drain them before you ever claim. The longer they sit, the more you lose — and inactive low balances also get swept to the ATO (see the 6-Month Rule chapter).

The fix — consolidate before you leave

Bringing your super together into one account (or claiming it all as one DASP) stops the double and triple fees. Contact us and we’ll guide you before you leave — we find every account, including any the ATO holds, and claim them together so nothing is lost to fees or left behind.

Simple rule

More funds = more fees. One claim, handled properly, means more money reaches you.

🎥 Spoken version — video script (about 55 seconds)

Read straight to camera. Pause at each line break.

Here is something most people do not realise until it is too late.

Every time you started a new job in Australia, there is a good chance a new super account was opened for you. Different employer, different default fund.

So if you worked five jobs, you might have five super accounts.

And every one of those accounts charges fees. Administration fees. Sometimes insurance premiums for cover you never asked for and cannot use.

Quietly, month after month, your money shrinks.

I have seen people with four accounts who lost thousands to fees over a few years — on money they did not even know they had.

When I check someone's record, this is one of the first things I look for. Not just the fund you remember, but every fund you have ever been paid into.

And here is the important part. When you claim your super as a departing Australia payment, you have to claim from each fund separately. Miss one, and it stays there. Getting eaten by fees.

If you are not sure how many accounts you have — that is normal. Let us check. It costs you nothing to find out.

[End — on-screen: alitax.com.au/dasp · WhatsApp +61 422 665 268 · Registered Tax Agent 25287564]

✎ Written by Bilal Jivraj

Original work of Bilal Jivraj, Director and Registered Tax Agent (No. 25287564), ALITAX — based on 10+ years of DASP and tax casework. © 2026 ALITAX. All rights reserved. No part of this work may be reproduced, republished or distributed without the written permission of the author. When referenced, please cite ALITAX — Bilal Jivraj as the source.