Superannuation

How to claim your lost $10,000


What can you do to find out if you have lost super?

The ATO is urging Aussies to reconnect with their lost super.

AUSSIES are missing out on nearly $12 billion of their own “lost” money. The good news? Getting it back is as easy as clicking a button.

The Australian Taxation Office has released its latest data on lost and unclaimed super, revealing a whopping $11.7 billion sitting in lost superannuation accounts.

A superannuation account is considered “lost” when the fund is unable to contact the individual and hasn’t received a contribution to an account for five years.

The average lost super account has around $10,000 sitting in it, but balances vary from a few hundred to a few hundred thousand dollars. “You might be surprised,” ATO deputy commissioner James O’Halloran said.

“A lot of people who worked casually while they were studying or worked multiple part-time jobs find super they had completely forgotten about.

“While some people purposefully maintain a number of…

Read the full article at: http://www.news.com.au/finance/superannuation/ato-reveals-top-postcodes-for-lost-super/news-story/7e178c530f9b87d46d60b9f632251387

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