It's a super time to check lost or unclaimed accounts

Monday, 25 September 2017

Federal Member for Hume Angus Taylor is encouraging locals to check if they have lost superannuation accounts, with latest Tax Office figures showing there were thousands of unclaimed accounts – worth millions - in the Camden, Picton and Goulburn regions.

“There are many ways people can lose contact with their superannuation, including changing jobs, which may force them into a new superannuation fund, moving homes, or not updating their details with their superannuation fund,” Mr Taylor said.

“I encourage everyone to log onto the ATO website to check if they have any unclaimed superannuation.”

As of June 30, 2017, there were 4867 unclaimed or lost superannuation accounts worth more than $23.74 million in the 2570 postcode area (Camden, Elderslie etc).

In the 2571 postcode (Picton, Wilton etc), there were 1555 unclaimed or lost accounts worth more than $9 million. In the 2580 postcode (Goulburn), there were 3425 unclaimed or lost accounts worth more than $19.7 million.

Nationally, there were more than 6.3 million lost and unclaimed ATO-held super accounts worth almost $18 billion.

Mr Taylor said the Turnbull Government had introduced reforms that would deliver a strong and modern superannuation system benefiting all Australian super fund members.

“Our changes will ensure more than one million workers have the right to choose their own superannuation fund if they are currently prevented from doing so because of enterprise bargaining agreements or workplace determinations,” he said.

“This will help to reduce the number of multiple accounts which inevitably lead to unclaimed and lost superannuation.”

For more information or to find out how to claim lost superannuation, visit www.ato.gov.au/checkyoursuper