How to claim your lost $10,000
What can you do to find out if you have 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…