Superannuation is the amount a person collects for an easy life after his or her retirement. It is a person’s hard earned money that he had been cutting from his salary to save for the future. But sometimes, for some reasons, one looses the track of the fund and is not able to access the fund.
There can be many reasons, some of the common ones are:
1. You were depositing in a particular industry or retail fund but after a time period your address or contact details changed, making it difficult for the fund to trace you.
2. When such things happen sometimes in your account istransferred from one fund to another and they do not have your present address, therefore making it difficult to trace for you
3. Another reason is no submission of any amount by the person for
time more than five years.
The question is how you can find lost super fund? A person can contact the Australian Taxation Office (ATO). All you haveto give for verification is the date of birth, your file Tax number, any family or other names given by you. There are generally three ways to find superannuation; it is by calling up the Australian taxation office, by contacting super seeker office online or by manually filling aform and submitting with the office.
Generally a case of lost superannuation forms, because of the loss of contact with the person. For example, you may have gone out of the country or there may be a change of address about which the Australian Taxation Office is not aware of. The Australian Taxation office maintains a list of all the lost superannuation. There is a proper database maintained by the members who have not claimed their
superannuation or were not been able to be traced.
Australian Taxation Office (ATO) is bound by the Privacy Act 1988 for handling personal information and tax file numbers. It is a Commonwealth agency. Whatever details asked by them are required for the
authentication and identification purposes. Moreover, in case required, they are also authorised to share the details with other government agencies.
Once ATO finds the lost superannuationfor you, you can transfer it electronically. All you have to do is sendyour personal details by email to the fund currently holding your lost account and also to your transferring fund.It is very important to maintain a track of your superannuation.
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A Complete Overview of Lost superannuation