Latest statistics from the ATO indicate that there is more than $17.8billion in lost and unclaimed superannuation.
If you have changed your name, job, or address, or forgotten to tell your super fund about changed details, then you could have lost or unclaimed super.
A lost super account is one where the member is either uncontactable or inactive. As of 30 June 2024, there are 333,000 lost super accounts, totalling $11.8 billion.[i]
Unclaimed super held by the ATO totalled $6 billion as at 30 June 2024. The bulk of this is made up of small or insoluble member accounts, inactive low balance accounts, and amounts owed to former temporary residents.
You can use the ATO super health check to search for lost super and ATO held super on ATO online services through myGov or contact your super fund directly. Searching for lost super is a simple process that could reunite you with any lost and unclaimed super you may have.
Since 2021, the ATO has reunited $6.4 billion in unclaimed super with its owners. It is worthwhile checking if you have lost or unclaimed super.[ii]
Your super is your money.
Finding your lost super and bringing it all together saves on fees and makes it easier to manage and helps you save for your retirement. Super accounts held by the ATO earn interest at the consumer price index rate. This rate may be significantly less than investment returns from a super fund.
Tips to help prevent lost and unclaimed super:
- Update your details
If you change your contact details, such as address, phone number or email let your super fund know.
- Starting a new job
When you start a new job let your employer know your super details
[i] https://www.ato.gov.au/about-ato/research-and-statistics/in-detail/super-statistics/super-accounts-data/super-data-lost-unclaimed-multiple-accounts-and-consolidations/total-lost-fund-held-and-ato-held-super
[ii] https://www.ato.gov.au/media-centre/17-8-billion-dollars-of-your-super-cant-find-you
