Is there a lost superannuation account in your family?

27/10/2014

Recently, the ATO had announced that up to $14 billion in lost super remains unclaimed. Would you know if some of this amount might relate to you or your close ones?

Unclaimed lost super may arise when people, who had had many jobs in the past, subsequently had had super accounts created for them by their various employers who made superannuation contributions on their behalf. As these people move on, the funds coordinator might then lose contact with them. At least 40% of super account holders have more than one account.

Another reason this may arise is the lack of proper administrative update, e.g. change of contact address; change of surname of marriage, etc.

Contact your accountant if you would like some assistance in finding your super, and claiming what’s rightfully yours.

Previous post:

Next post: