The government’s Protecting Your Super (PYS) rules have been designed to help protect your super from paying unnecessary fees and insurance premiums when your super account becomes ‘inactive', or you have a balance less than $6,000.

Your account is considered ‘inactive’ if we haven’t received any money in your account for 16 consecutive months or more.


Your insurance could be cancelled

This would happen if your account remains inactive for 16 consecutive months, regardless of how much money you have in your super account.You can activate your account by making a contribution or rollover into your super, or you can tell us you want to keep your insurance with us by opting in.

We will contact you if your account is identified as inactive, but it’s a good idea to tell us now if you would like to keep your insurance.


Want to keep your existing insurance?

Login to your account, follow the link to Insurance Express Online. From there,  select ‘Keep my existing insurance’. 

Login now to 'keep my existing insurance'

Alternatively, you may download and complete the 'insurance opt-in election form'. Return the completed form to us at Aware Super GPO BOX 89 Melbourne VIC 3001.

Important: If you have multiple account with insurance cover, you will need to complete the 'insurance opt-in election form' for each account.


Rules affecting your super if the balance is less than $6,000 (Inactive Low Balance Account)

If your account has a balance less than $6,000 and is considered ‘inactive’, we must transfer your super to the ATO. They will try to consolidate this ‘inactive’ account with an active super account you have with another fund. This legislation is designed to protect you from paying more in fees than you need to through having multiple accounts.

We will contact you if your account is identified as inactive low balance, but you should check your super balance regularly.


Your super could be transferred to the ATO if …

your super balance drops below $6,000 AND your account becomes inactive – ie it doesn’t receive any contributions for 16 months or more.

You can activate your account so that it won’t be transferred to the ATO by:

  • making a contribution or rolling over money from another super fund
  • updating or making a binding beneficiary nomination
  • making a change to your investment options, or
  • submitting an ILBA authorisation form.

We will contact you if your account is likely to be transferred to the ATO.

Don’t transfer my super to the ATO


Changes to super fees

From 1 July 2019, super funds are no longer permitted to charge exit fees.

Also from this date, there is a 3% cap on passive fees charged by super funds annually on accounts with balances below $6,000.

Frequently Asked Questions

You need to tell us you want to keep your insurance by completing the ‘Insurance opt in election’ form, either online or by filling in a;

a. Online formLogin to your account, go to the Insurance page, select Insurance Express Online and then ‘Keep my existing insurance’

b. Paper form - Download the Insurance opt in election form, fill it in and send it back to us at Aware Super GPO BOX 89 Melbourne VIC 3001

By opting in, you’re choosing to keep all your insurance. If you only want to keep some of your insurance, you should opt in and then call us to cancel any insurance you no longer need.

Your last annual statement will show whether you have insurance. Your statement snapshot on the front page shows you how much insurance you have and provides more details later in the statement.

If you have registered for online access, you can log in and check your insurance online, or give us a call.

If your account has been inactive for 9, 12 and 15 months, we’ll notify you to let you know what you must do, and by when, if you want to keep your insurance. If you do nothing and your account is inactive for 16months your insurance will be cancelled.

You can reduce or cancel your insurance at any time either over the phone, or by logging in to your account. If you intend to keep some of your insurance, it’s best to opt in before reducing it.

If your insurance is cancelled, you can re-apply but it’s possible your application may not be accepted by our insurer, or different terms may apply. 

1. Authorise us to notify the ATO

You can authorise us to advise the Australian Taxation Office (ATO) that your account is active, and that you would like to keep your super with Aware Super.

Simply complete the ILBA authorisation form and send it back to us. We’ll then notify the ATO on your behalf and your account will remain with us.

2. Make a contribution into your account

You can activate your account by adding money* to your super:

a. ask your employer to pay your SG contributions into your account

b. make a personal contribution - the easiest way is using BPay®. You’ll need our Biller code (736850) and your customer reference number (available online and in your statement), or

c. Combine other super you have into your account with us - use our find and combine tool to find your other super.

If your account has been inactive for 16 months or more and your account balance is less than $6,000, then we’ll notify you that your account has met the inactive low balance criteria and what you must do, by when, if you do not want your account transferred to the Australian Tax Office (ATO). 

The identification and transfer to ATO of ‘inactive low balance’ accounts occurs twice a year on the following dates:

Inactive low balance accounts identified Period for members to activate their accounts or submit an ILBA authorisation form
Transfer of inactive low balance accounts to ATO where the member has not acted or advised otherwise
30 June 1 July - 30 September 31 October
31 December 1 January - 31 March 30 April

Where possible, the ATO will consolidate this balance into an active account you hold with a super fund. 

If your account is transferred, the ATO will look for an active account you may have with another super fund so they can combine the accounts.

If you don’t have super in another fund or if the ATO is unable to transfer the money to your account, then your super will be held by the ATO, earning interest based on the consumer price index, which may be less than the investment returns you might earn in your super fund.

If you have an active account with another fund, you should think about which fund you want to be in before your account is transferred. This means comparing things like fees, investment options, insurance benefits, performance, and support services. Choosing the right fund can make a big difference to your retirement savings*. Find out what we offer or combine your super*.

To check your account balance, you can use the app or log in to your account. Keep in mind your balance changes from day to day. You can also call us and we will give you your account and transaction details.


*You should check the fees, charges, any benefits such as insurance held with your other fund(s) and any tax implications arising from a rollover or transfer before making a decision about Aware Super.