According to the last statistics from the Find Your Super campaign, Australians at present have $17.4 billion in lost superannuation, amid the average value in 3.6 million forgotten or lost super funds, being as extensive as $4,800.
Can some of this be yours, as well? Probabilities are, if you’ve ever changed your name, job or address, you might have some lost or unclaimed super funds waiting to be identified.
The excellent news is there are quite a few ways you can find your lost super funds in Australia, to make sure this cash is put back where you like it and can be put into your retirement savings. A good start is the Australian Taxation Office website. The ATO offers a service free of charge called SuperSeeker which carries out a search for your unclaimed and lost super fund and presents a list of possible matches. The ATO is able to run the hunt for you either on the net, over the phone or via post. All you require to run this primary search is your name, income tax file number as well as date of birth.
If an account identical to your particulars is found, you can make use of SuperSeeker Australia to get hold of more information (for example, account balance or to apply for the transfer of the money into a different fund), but you will have to provide other papers, for example, a notice of assessment from the ATO or super account member statement from the previous 5 years, plus account information, a PAYG payment summary, a payment statement or a Centrelink payment summary from the previous 2 years.
A lot of super funds nowadays offer their individual internal services for finding your lost super. They will complete all the official procedure for you; therefore it might be a good plan to contact your fund to make out what they are able to do for you.
The sooner you search for it, the larger the benefits. Remember, the more up to date you maintain your contact information with your fund, the less expected you are to ‘lose’ your money.
Though, Lost super funds can be searched via super seeker tool that put forward the possible matches .But there are companies like Findsuper that assist you in coming across your lost super. The company saves you from the hard slog of finding as well as consolidating your inactive or lost super. The company moreover offer free superannuation advice and promise you of current information, in this regard.
Find lost super funds and gather your retirement savings