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

Billions of Lost Super Money Could Go to the Taxman

Accountants have mentioned that people must claim their money before the taxman takes them by the end of the financial year.

Rounding up lost super is as easy as a ride on a ferries wheel if you ask the experts. If you hop on it for three minutes, you can hopefully do some research during that time and find your lost super. Financial consultants say time is running out to get on top of your retirement funds as a report reveals more than $18 billion of lost super in the country.

The Number of Unclaimed Super Accounts Are Staggering

One of two Australians have shares in the unclaimed portion of cash. Even something as people changing their address could lead to having lost super. There are many people out there that move around, transfer to another job and forget to notify their super fund about it.

But if the money isn't received within the next fortnight, it could be moved to the taxman. This is a move which the government says will prevent members in paying unnecessary fees. If you don't do anything about it, small amounts of superannuation will go to the taxation office if it's $2000 or less.

It's hardly surprising that young people are the worst offenders when it comes to managing their super. The financial experts say they often under-estimate just how much they have.

A case study:
A 29-year-old lady named Trish Fenley has found 34,000 dollars she didn't know she had in her lost super fund. She couldn't believe she had almost lost that much money to the taxman.

How to find your Lost Super

For anyone trying to check or claim their funds can visit www.australiansuperfinder.com.au and consult with the site's administrator. Free consultations can be scheduled by calling their office at these numbers - 1300 252 167

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