Reasons you may have lost super
You should consider searching for lost super if you have ever done any of the following:
Changed jobs
Switching jobs can often lead to leaving contributions scattered across multiple accounts.
Changed names
If you’ve been married or altered your name, your fund's records can become outdated.
Changed address
Moving could disrupt communication, especially if the changes aren't promptly updated.
$17.8 billion in lost super funds
Most of the time, the investment fees and default insurance policies will chew away at the capital, leaving next to nothing behind.
How can you have lost superannuation?
Your account can be labelled ‘lost’ if your fund can’t contact you or hasn’t received contributions for five years.
Every year that passes could mean more of your savings become consumed by fees. Join thousands of Australians who have taken control of their finances with us.
Frequently Asked Questions
Find the answers you need and see how we can help secure your financial future.
While the funds are considered ‘lost’, the value of the superannuation account might decrease. This is due to the ongoing fees, charges, and insurance premiums the fund might deduct, even when the account is inactive.
If an inactive account falls below $6,000, they’re deemed ‘unclaimed’ and transferred to the ATO until claimed by their rightful owners.
It’s important to note that self-managed super fund (SMSF) members are excluded from being considered lost.
In 1992, under the Keating Labor Government, The compulsory employer contribution scheme resulted from Australia’s retirement dilemma. From 1992 it became mandatory for employers to contribute to your Superannuation, commonly known as Superannuation Guarantee Contributions. However, it was not carefully thought through, and Australians ended up with multiple funds.
This may seem insignificant, but it has allowed Australians to lose over $17,800,000,000 worth of Superannuation.
We are an award-winning, dedicated team of financial professionals specialising in financial planning and wealth creation. Providing thousands of Australians with ongoing support every year to ensure their super continues working for them.
Together we go through your financial situation and identify your objectives, then evaluate your current super fund to make sure it’s working with you and in line with your goals. We work for you. We aren’t owned or controlled by a bank or fund, so you can be confident the advice we give is designed to help you and not them.
Our team knows the perfect recipe to ensure you are maximising your contributions, personal insurances and investment benefits. We provide advice when comparing funds that is easy to understand and empowers people to take control of their finances, guiding you into a superannuation strategy that works in your best interest.
Our team excels in academic research and creating investment portfolios structured around expected returns. We believe the best move is to educate yourself with enough information to make informed decisions. This allows us to guide you into a retirement plan that delivers solid, long-term results in a cost-effective manner.
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