Changes to Low Balance Superannuation
If you have more than one superannuation account and have purposely left a small balance in order to retain insurance in that fund, then
this is a must read for you.
As of 1 July 2019, there will be changes made to superannuation accounts classified as having a low balance. The threshold for the low balance classification is $6,000. Anything under this balance will automatically be classified as a “low balance super account”.