More money in retirement may be on the table for Australians currently missing more than $17.8 billion in lost and unclaimed superannuation.
Latest data from the Australian Taxation Office (ATO) has revealed many Australians have forgotten to update their contact details so their super fund can’t find them.
Deputy Commissioner Emma Rosenzweig said the ATO wants to reunite people with their lost and unclaimed super.
‘Since 2021, the ATO has reunited almost $6.4 billion of unclaimed super with its owners. But there is still more than $17.8 billion waiting to be found,’ said Ms Rosenzweig.
‘If you’ve changed job, moved house or simply forgotten to update your details, you may have lost or unclaimed super.
‘We’re urging Australians to check if some of the $17.8 billion in lost and unclaimed super belongs to them.’
‘Even if you’ve retired you could have lost or unclaimed super. The ATO is holding $471 million on behalf of people aged 65 plus.
‘Superannuation is a key part of your retirement, and we want to make sure Australians are claiming the investment they’ve worked for,’ said Ms Rosenzweig.
The first step is checking your super account details, either online or by contacting your fund.
The ATO’s 5 step Super Health Check can help you get your super back where it belongs in just a couple of minutes.
To complete the checklist, all you need to do is:
1. Confirm your contact details.
2. Check super balances and employer contributions.
3. Look for lost and unclaimed super.
4. Find multiple accounts and consider consolidating.
5. Confirm nominated beneficiaries.
For more information visit Super Health Check on the ATO website.
Notes to journalists
A headshot of Deputy Commissioner Emma Rosenzweig is available for download from our Media centre.
ATO file footage and Super Health Check images are available for use in news bulletins from our Media centre.