I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Sorting Out Your Super

Some bosses are exploiting a loophole that says "the more you pay, the less they do."

We've always been told that we won't have enough money to retire, so workers are putting extra into Super. And that's where some bosses are cashing in. It may be morally wrong, but it's legally alright to do so. They are not paying the full 9% contribution if you add any of your money to your nest egg.

If You Salary Sacrifice

If you say to your boss that you want to sacrifice an extra $10,000 into Super, you can tell it right. That 10% you are salary sacrificing is more than 9% that the boss is supposed to pay. So the boss doesn't pay, and you lose out. There are members clients out there who are being ripped off.

Think about it like this. Imagine you have money to pay for salary sacrifice on your hand. Your boss is putting in 9%, so you match it to build up that nest egg. But instead of matching it some bosses are not paying anything at all. So an average wage of say 20 years $150,000 is going into your boss' pocket instead of yours.

If this happens, then you have just been given a pay cut. And I suggest that you go and find another job. Others hold in cash for months on end. There are those who withhold payment and not pay for one or two years on end.

It was their policy to make it legal for the boss to treat people like this but it has gone on the wrong side of things. To check, first read your pay slip, look at your super statement, and do the thumbs. The employee must be clear on their accumulation and make sure they are not missing out.

If you're missing out, you must go to your employer and ring a bell that you haven't received your package. However the experts say "a good boss should right the wrong."

For more tips on sorting out your super fund, go to www.australiansuperfinder.com.au

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