By the time you hit the age of thirty, you’ve likely held a number of jobs.

As a result, you will also have a number of superannuation accounts in your name, with money locked away to fund your retirement.

We often hear financial advisers in the media, telling us that the best thing to do is to roll all these super accounts into one (preferably the one that is performing the best).

This is because each super account comes with a number of fees which are slowly eating away at the balance of your retirement savings. So the theory is, by rolling everything into one account, you will only be paying ONE set of fees – which means more money for you in retirement.

However! Before you rush out and roll over all your super, there is one very important question to consider: your health.

Many super funds will not cover you for pre-existing health conditions – that is, conditions you already had when you joined.

So the super fund you joined at age 17, is more likely to cover you for any health issues which have arisen since you reached adulthood. By the time you reach 30, you may already have a health condition and the fund you join then will not cover it.

Of course it will depend very much on the individual fund, and their specific guidelines around illness, injury, disability and death cover.

While rolling over all your superannuation into one fund is excellent advice, as with all things financial, don’t rush into anything. Read the (boring!) fine print, and if possible seek expert advice from a financial planner.