Lost super climbs to $14 billion
Category : Practice Updates
New statistics released by the ATO reveal that more than $14 billion in lost super is waiting to be claimed.
“There’s over $6 billion of super, sitting in accounts where funds have not been kept up-to-date with changes in personal details,” said Mr Shepherd.
“It’s easy for this to happen because when people get married or move house, the last thing on their mind is updating their name and address details with a super fund.”
An additional $8 billion in super is sitting in accounts that have not received a contribution in five years or more.
Visit www.ato.gov.au/superseeker for more advice on how to track down lost and unclaimed super.