Prior to making a new super fund choice, you should gather information about the superannuation options that are available to you. It is essential you compare the features and benefits of each super fund, including investment choice, performance and fees is vital.

If you are thinking about moving super funds, you should consider the impact on the level and cost of insurance cover, as well as the amount of health evidence you may need to provide to obtain insurance cover through another superannuation arrangement. The financial planners at Intellichoice can assist you with this.

If you cease to be a member of your employer super plan, your cover will cease (unless you have the option of moving to the personal division of your super fund, where the same or similar coverage can often be maintained). To establish cover within an entirely new super fund, you should be aware that you may be required to go through an application process to obtain the same level of cover. This may involve providing health evidence prior to cover being issued. If you have a health condition that you are not aware of, you could be ineligible for insurance cover or may have to pay an increased premium.

Your employer must contribute any Superannuation Guarantee benefit that becomes payable to your chosen super fund after two months from when you provide them notice of your chosen super fund. Your employer may choose to contribute to your chosen super fund before the expiration of this two month period.

For more information about making an informed superannuation fund choice, please contact the financial planners at Intellichoice on 1300 55 10 45 and we can assist you in finding a super fund that suits your needs. In addition, read the 'Super Choice' booklet available from www.superchoice.gov.au for more details.