You know the story… you’ve moved house or you’ve changed jobs and you’ve updated just about everything you can think of with your new details… except for one or two things. For a lot of Australians, those one or two things can be their super and it could result in some of your funds being declared as ‘lost super’.
Lost super is when a fund cannot contact a member, normally because they have changed their name, address or employment.
Super can also become lost when a member has met an eligibility requirement to withdraw their money, but the fund is not able to contact them.
The ATO’s lost super data says there is $2.7 billion1 of lost super in Queensland. That’s a staggering amount of money that belongs in the nest eggs of Queenslanders.
A simple search for your lost super could unearth thousands of dollars and a make a real difference to your retirement.
If you’ve had more than one job in the last ten years and haven’t rolled over your super, there could be lost funds waiting for you.
The easiest way to find out if some of this $2.7 billion belongs to you is to use the free SuperSeeker service provided by the ATO. All you need to get started is your tax file number, name and date of birth.
If you do find some lost super you can use the application form on the ATO’s website to claim your funds.
1. Source: ATO – Lost and ATO-held super by postcode. Last updated 3 February 2015.