The simple money check that makes sense when you switch jobs

Why you should check on your super when you get a new job

A new job is a natural circuit breaker. It’s a shift in your regular programming. A chance to take stock and consider where you’re at before embarking on your next employment journey.

For a lot of Australians, super is something that sits in the background. It’s not something that needs constant attention, which is great, because, really, who has the time? As a result, however, super can often be neglected. For many, the only time they look at – or even think about – their super is when they switch jobs and need to nominate their preferred super fund. That’s why getting a new job is the perfect time to check in on your super.
 

What do I need to consider when checking my super?

A super check-in is exactly what it sounds like. It’s the simple but worthwhile moment to log into your super and take a look around: at your balance, the returns you’re getting, and how much you’re paying in fees.

Once you’ve got a better understanding of your super, comparing it to benchmarks for your age group can help you see how you’re tracking, and if a small tune‑up could make sense – whether retirement is around the corner or still a long way off.

Tools like our Retirement Needs Calculator can help you get a clearer idea of how much you’ll need in retirement. And our Retirement Simulator can show how much you’ll have in retirement based on your current balance and age, to help you see how small changes made now can shape your future.

I’ve checked in on my super, what else can I do?

If you’ve got a bit more time or curiosity, there are a few other things people often glance at when changing jobs that could make a difference down the line.
 

1. Do you have more than one super account?

It’s common to end up with multiple super accounts after switching jobs. If that’s the case, you may be paying multiple sets of fees or insurance premiums – which is why some people explore consolidation after checking what they have. It’s important to consider what insurance you may need to hang onto and any exit fees before you consolidate.

2. Are you still happy with your current fund?

A new job can also be a good time to think about whether your super fund still suits you. Comparison tools like ratemysuper.com.au or the Australian Tax Office (ATO)’s super comparison tool can help you understand differences in fees, performance and features before you consider any changes. 

3. Has your appetite for risk changed?

While you won’t necessarily have a say in the specifics of how your super is invested, you’ll generally be able to nominate the level of risk you’re comfortable with.

This is known as your investment risk profile – and often described in broad terms as conservative, aggressive or balanced. Many people find their comfort with risk changes over time. For example, those earlier in their careers often have more time to ride out market ups and downs, while people closer to retirement may prefer a steadier approach.

AMP Super reflects this through it’s MySuper options – an age‑based (lifecycle) investment approach, where your super is invested in a way that’s designed to adjust automatically as you move through different life stages.

If you need help working out what investment approach is right for you, check out our investment risk profiler tool. AMP Super members also have access to Digital Financial Advice at no extra cost, which allows you to book sessions with our financial advisers who can help you determine your risk profile based on where you’re at right now.

4. Should you consider salary sacrificing?

Some people explore salary sacrificing after changing jobs or getting a promotion, particularly if their income has increased as it can avoid lifestyle creep while building up your retirement automatically in the background. There are tax benefits to salary sacrificing, but it can also mean you’ll have less take-home pay. It’s not for everyone, but it can be worth understanding how it works and what trade‑offs it involves.
 

Changing jobs: the super moment that could set you up

As simple as it sounds, taking a moment to check in on your super can affect your retirement outcomes later on, and a change in your career can be the perfect time to take a look.
 

Curious how your super stacks up? Compare it with Rate My Super

See how your super stacks up against other funds on investment performance, fees, insurance and key service features with our Rate My Super tool – all using externally sourced data.

Try it now