I have two Super Pension Accounts with different funds - I'll call them fund A and fund B. I wish to combine them into a single Pension Account with fund A.
It appears that there is no mechanism to consolidate two Super Pension accounts as there is with Super Accumulation Accounts.
Fund A has advised that my pension balance from Fund B will be received into a Fund A Accumulation account where I can instruct them to then transfer it into Pension mode. Fund A can then combine my existing Fund A pension balance with that received from my Fund B pension and setup a new consolidated pension account.
My question is how will this affect my existing ATO Transfer Balance amount?
I understand that Fund B will reduce my Transfer Balance by the purchase price of that pension (which is lower than it's current value), but when Fund A moves the (higher) current value of my Fund B pension from an accumulation account into a new pension account, is the amount added by the ATO to my Transfer Balance the Fund B purchase price or the higher amount Fund A received?
As all I want to do is to consolidate two pension accounts into one, and there is no new money involved I believe that my Transfer Balance total should be unaffected. How do I ensure that the ATO simply deducts and re-adds my Fund B purchase price to my Transfer Balance?
Thanks in advance...
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