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Is it standard to charge early termination fee to rollover my superannuation?
Hi,
As I have moved to a new job, I would like to consolidate all my superannuations to the current one. One of them is charging "Early Termination Charges" of over $2,000.00. Is that standard? Here we are keep seeing the advertisements about choosing the right company to manage our super, and yet we are slugged with excessive fees just to rollover ours to another company :( Any advise?
Thank you.
3 Answers
- Anonymous10 years agoFavorite Answer
Early termination charges are common but that sounds quite excessive.
Source(s): Investing since 1987 - 4 years ago
that's criminal or there would be thousands and thousands of courtroom situations each and consistent with annum. You signed a 2 year contract, those words have been interior the contract which you signed, so which you agreed to it. you are able to attempt to locate somebody to take over your telephone traces and do a metamorphosis of duty. you additionally can call and talk the themes you're having the a supervisor or somebody larger as much as see in the event that they are in a position to be resolved without you having to pay purely approximately $1000 in expenses. yet, no that's no longer unlawful for telephone agencies to cost a fee for breaking a legally binding contract.
- Anonymous10 years ago
It is not standard
iwill suggest you to tranfer as an IRA account first then rollover and you might escape this fee
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