At Australian Ethical, we understand superannuation can be confusing, especially at a time when there are changes. We want to make things as easy as possible for you to keep up to date with new legislation that came into effect on 1 July 2019.
These changes are being introduced by the Government as a measure to ensure your hard-earned savings for retirement are protected.
Some people hold multiple accounts (in super and insurance), which means these people are paying multiple fees in different funds. As part of this reform, the Australian Taxation Office (ATO) will be reuniting small inactive balances and consolidating the accounts of these members.