Combining your Colonial First State
super accounts

No, it’s your choice. If you would like to keep your multiple accounts, please let us know by the date specified in your letter by either calling us on 1300 654 666 or emailing us at contactus@cfs.com.au from the email address registered on your account, making sure to include your account number. We’ll then record that you intentionally have multiple accounts and won’t combine your accounts now or in the future unless you instruct us to do so.

Reducing the number of super accounts you own can help give you a single view of your retirement savings, decrease any dollar-based administration fees you pay and reduce the complexity of managing multiple super funds.

Combining your super accounts will not result in a change to your investment strategy, but it will incur transaction costs known as a buy/sell spread. There is no other cost to consolidate accounts. Please refer to the Product Disclosure Statement for further information on our fees.

In the letter you have received, it indicates which account(s) will be closed and which account will be maintained. If you would like these accounts to be combined as per the letter, you do not need to do anything.

In the letter you have received, it indicates which account(s) will be closed and which account will be maintained. You can nominate a different account to keep open. However, it’s important to consider whether you’ll lose any existing insurance cover on the account you would like to close.

You may need to consider whether your employer is making any superannuation contributions and whether there is any Regular Investment Plan for the account you intend to close. If this is the case, you will need to make alternative arrangements to the account you want to keep open.

Also, your employer may have negotiated a dollar-based administration fee discount. If you are closing an employee account, you will lose this discount on the account if applicable.

As with any transaction, transaction costs known as buy/sell spreads apply as part of the combination process. No other fees apply to this transaction. Please refer to the Product Disclosure Statement for further information on our fees.

Yes. We ask that you let us know if you would like to maintain more than one account by the date specified in your letter by calling us on 1300 654 666 or emailing us at  contactus@cfs.com.au  from the email address registered on your account, making sure to include your account number. We will then record that you intentionally have multiple accounts and won’t combine your accounts now or in the future unless you instruct us to do so.

No, there will not be an impact.

The balance from your old account/s will be invested in line with the investment choice in the super account that is to be kept open.

We’ll write to you once we’ve completed the transfer from the closing accounts. 

We’ll confirm the amount we will be transferring to your open account, as well as sending you an exit statement for each account that has been closed.  

If you have an Self Managed Super Fund (SMSF) or defined benefit fund, its best to speaker to a financial adviser before consolidating these type of accounts because they have special conditions that can be complicated