AUSfund’s purpose is to look after super accounts transferred from other super funds.
If your fund has sent your account to AUSfund, it’s likely that you weren’t receiving contributions to your account anymore and your fund tried to contact you without success. Sending your account to AUSfund reduces the effects of fee erosion and allows your super to keep earning investment returns until you are reunited with your inactive account.
AUSfund works with participating funds to consolidate accounts on your behalf through a process we call Cross Fund Matching. We look for accounts that match your details in other funds and transfer any super you have in AUSfund to your eligible active account.
You can also claim your super directly from AUSfund, including requesting a transfer to another super account you hold, or withdrawing your balance if it is under $200.
If AUSfund can’t find your active account and you don’t claim your super, AUSfund may be required by law to send your super to the ATO, where it will only earn interest equivalent to inflation until it is returned to you.
More than 35 super funds transfer their members’ lost, inactive and unclaimed accounts to AUSfund. Your account can become inactive or unclaimed if:
Funds do not need member consent to transfer accounts to AUSfund.
AUSfund is a special type of superannuation fund known as an Eligible Rollover Fund (ERF). ERFs are a little different from regular super funds:
Contributions: AUSfund cannot accept any member or employer contributions. It can only accept transfers from other complying super funds.
Investment: While your super is with us, we invest your money with the aim of delivering a competitive return with a moderate level of risk. Unlike most super funds we do not offer a choice of investment options. All funds are invested in one pool.
Insurance: AUSfund does not offer any insurance, so we recommend you review your personal insurance needs. If you are a member of another super fund it may be able to provide life, temporary and permanent disability as well as income protection insurance (also known as salary continuance).
AUSfund has been awarded HERON Partnership's 'Top Rated ERF' twelve times in the last thirteen years. This recognises the continued provision of high quality service to the inactive members of super funds.
AUSfund may be a great place to park your super if you are out of the workforce and not receiving contributions. For example, you might be on study leave, working overseas, taking extended maternity leave or only working for short periods during the year.
It should be noted that AUSfund does not provide insurance cover, cannot accept any type of member or employer contribution and does not offer investment choice.
Search for your super and other lost money.
Transfer your super to your active account.
Update your details and tax file number.
Nominate your beneficiaries.