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What is Stronger Super?

The Federal Government has introduced changes to the superannuation system designed to make Australia’s superannuation system stronger and more efficient.

These reforms are called Stronger Super and have been introduced following a Government review of the country’s superannuation system in 2009.

From now until June 2016 the legislated changes will aim to simplify the superannuation system in a bid to help protect and maximise superannuation retirement income.

There are a number of important elements involved in the Stronger Super reforms:


SuperStream is designed to improve the processing of superannuation transactions and to reduce the time it takes for these transactions to occur.

The concept behind SuperStream is to reduce error and remove human involvement from the system.

Superannuation Guarantee rate rise

The Superannuation Guarantee rate is scheduled to increase to the 12 per cent target over the coming years. From 1 July 2014, this rate will become 9.5 per cent.

The upper age limit for paying the Superannuation Guarantee to an employee has also changed. Employers must now continue to pay eligible employees super if they are over 70 and continue to work.


SuperSeeker is a tool that has been developed to help people track their lost super.  The ATO reports that more than $17 billion sits in lost and unclaimed super funds.

This program will also allows individuals to electronically transfer the lost super into an account they choose.

Posted on 13 December '13 by , under Super.

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What to consider when consolidating your super

The ATO reported that 45% of working Australians were not aware that they had multiple super accounts in 2016. Having multiple super accounts is particularly common for individuals who have had more than one job. If this is you, it is important to identify and manage your super accounts because having more than one can be costly as a result of account fees from multiple funds.To combat this, you may want to consolidate your super, which moves all your super into one account. Not only does this save on fees, but it also makes your super easier to manage and keep track of.

Before consolidating your super, it is important to do the following:

Research your funds' policy
Compare your active super accounts so you can make the right choice about which one you should close. Things to assess include:

  • Exit fees
  • Insurance policies
  • Investment options
  • Ongoing service fees
  • Performance of the funds

Check employer contributions
Changing funds may affect how much your employer contributes, as some employers contribute more to certain funds. Check your current accounts to see if changing funds will affect this. Once you have selected a super fund, regardless of whether you choose a new super fund or one of your existing ones, provide your employer with the details they need to pay super into your selected account.

Gather the relevant information
When consolidating your super, you will need to have the following details ready:

  • Your tax file number.
  • Proof of identity. This could include your driver's license, birth certificate or passport.
  • Your fund's superannuation product identification number (SPIN).
  • Your fund's unique superannuation identifier (USI).
  • Details of your previous fund.

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