Document ID: chunk:federal_register_of_legislation:F2025C00069:schedule:2a:p5
Version: federal_register_of_legislation:F2025C00069
Segment Type: schedule
Provision Reference: sch 2A (pt 5/12)
Character Range: 840582–843320

You can find out more about super at moneysmart.gov.au.

What things should I consider when deciding to switch super investment options or funds?

The performance test does not take into account your individual circumstances. You should think about your investment plans and personal situation, such as investment goals and values, as well as insurance, fees and tax impacts, when switching. You may wish to speak to a financial adviser about your personal circumstances.

How can I find a new super investment option or fund?

You may find it helpful to use the Australian Government's YourSuper comparison tool. You can use the tool to compare the fees and earnings of simple, low‑cost MySuper investment options. Note that the investment options listed above are not MySuper investment options. You should think about whether a MySuper investment option is right for you. Go to ato.gov.au/yoursuper or use the QR code above.

How do I consolidate my super?

If you open an account with a new super fund, contact the new fund or use myGov to consolidate your money, saving on fees by avoiding charges on multiple accounts.

What happens if a super investment option fails two or more years in a row?

If a super investment option fails the test at least two years in a row, it cannot accept new members until it passes a future test. You should think about the impact of this on the investment option's ability to improve.

Your money will stay in the failed super investment option unless you move it.

[Use the following template if: one or more Part 6A products are a trustee‑directed product, the beneficiary accessed the product via a generic or lifecycle investment menu, and the conditions in subsection 60F(1) of the Act (2 consecutive fail assessments) are satisfied for these products]

Dear [insert the name of the beneficiary of the superannuation entity],

[If the beneficiary holds only one failed Part 6A product offered by the superannuation entity, include the following paragraph]

Your superannuation investment option [insert the name of the superannuation entity and the name of the Part 6A product] has failed the annual performance test at least 2 years in a row. We are now banned from accepting new members into this investment option until it passes a future test. You should think about moving your money to a different super investment option or fund.

[If the beneficiary holds more than one failed Part 6A product offered by the superannuation entity, include the following paragraph]

You have multiple superannuation investment options in [insert the name of the superannuation entity] that have failed the annual performance test at least 2 years in a row. We are now banned from accepting new members