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$17.5bn in lost super – is it yours?

More than a third of all Australians have more than one superannuation account. Moving house, changing jobs or just forgetting to update your details can easily separate you from your superannuation fund.

Currently, more than $17.5bn in lost super across 6.2 million accounts is waiting to be claimed. And, the ATO says that it is not all small amounts with one account in NSW holding more than $2.2 million. 

While over 500,000 super accounts were consolidated last year, there is still a lot of superannuation lying around being unproductive.

The top 10 postcodes for lost superannuation are:

Ranking Postcode State Total No. of accounts
1 4740– Mackay and surrounds QLD 12,140
2 2170 – Liverpool and surrounds NSW 13,236
3 4870 – Cairns and surrounds QLD 15,450
4 3030 – Werribee and surrounds VIC 10,457
5 4350 – Toowoomba and Surrounds QLD 13,425
6 2560 – Campbelltown and surrounds NSW 11,310
7 2010 – Surry Hills and Darlinghurst NSW 7,646
8 2000 – Sydney CBD NSW 6,520
9 6210 – Mandurah and surrounds WA 10,983
10 3029 – Hoppers Crossing and Surrounds VIC 9,296

So, what can you do? If you have not already, sign up for a MyGov account. MyGov is an online portal for a range of Government services. If you link your MyGov account to ATO online services, you can see the superannuation accounts registered to you. MyGov is also a way of ensuring that you are not caught out by formal looking scam emails as the communication sent to you by Government is available on the portal.

But please be aware if you link your MyGov and ATO online services, your notice of assessments and other notifications will go to your MyGov account, rather than via us, so keep an eye out for a reminder text from the ATO to say you have a new notice in your MyGov account, and log in and check it.

Contact Us Today.

Whatever your requirements, we can help you find the solution.

Unit 6, 1 Sigma Drive Croydon South, Australia VIC 3136

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