Could you have any lost superannuation? Experts tell us that at least half the working population of Australia have superannuation that they have lost track of due to changing jobs frequently. This unclaimed money has mounted up until it is over $10 billion.
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Lost Super: Find Your Superannuation
Many people forget that superannuation in Australia is just like having a bank account. If you have money in a bank account then it remains yours for as long as it exists. The same thing happens with superannuation.
Employers are required by law to place some of your salary into superannuation for you. This is usually done every three months. So if you have had several jobs that have lasted for a few months, you could have several different lots of unclaimed superannuation.
You can easily find out if you have lost superannuation, but never pay anyone to find it for you. These people are operating scams. There are others who will find it for free. You can also go to the ATO website and use the free Super seeker service there.
What is ‘Lost’ Superannuation?
What constitutes ‘lost’ superannuation? If an account has not been active for two years or more is considered to be a ‘lost’ account. Also, if mail sent to the holder has been returned twice to the sender, the account is considered lost. To prevent your super from getting lost, always supply your most recent details to your super fund.
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The review "Find your Lost Superannuation" was last updated on 28/06/2009.