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

Superannuation for Low-Income or Part-time Workers

There has recently been a talk about the government putting money in for these people.

Yes, at the moment there's an availability of $500 to match some funds that you put into super. It is tested on your income. The cut-offs go around a $32,000 mark to get the full benefit and also add into it a $62,000 before that is saved. That changes every year, and it may no longer be relevant today. You must keep yourself updated in time.

In many people's perspectives, $500 may not sound like a significant amount but at the same time, when that number goes in, you are good for the day. You can begin accumulating your compounding interest that will add to the end sum once you start to take it out.

Tips for Low-income or Part-time Workers when it comes to Super

If you think you are in a tight struggle with your superannuation, you need to take control of it. Figure out where your funds are. If you've got more than one fund from previous part time jobs, you would be better off if they were put together because you would be able to save fees that way. Also, one fund would be more manageable on your part than having multiple funds.

Just understand that fees for each fund, what they are accounted for, and ask yourself whether or not it's worth holding on to multiple funds. There are lots of options and benefits to superannuation if you take control of it. And if you don't understand the process, ask someone who does. It's that simple.

Dealing with Lost Super

Usually, part-time workers end up with multiple funds in which they are not aware of. There is a way to find this superannuation even if they have been lost for many years. www.australiansuperfinder.com.au have tools and administrators that can help you look for your lost super. You can make inquiries by calling this number - 1300 252 167

Loading PLease Wait..