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

Do You Have Lost Super Waiting To Be Claimed?

One among them could be your own. If you went down a wallet holding hundreds of bucks, you wouldn't leave it lying in the street. So it's all the more unusual that many Australians neglect their lost super when a secure online enquiry could rejoin them with countless of money that are truly theirs.

In December 2014, there were greater than 6 million super accounts virtually worth $16 billion waiting to be claimed, approximately $2,648 each. New South Wales had the largest quantity of lost super, greater than $4.2 billion. Yet Queensland held the document for both the biggest number of lost super accounts in a solitary postal code (6,442 in the tourism hotspot of Cairns, with a populace of 134,000 at the last census) and the postal code with the highest amount of lost super ($58.9 million in Australia's sugar cane resources, Mackay).

On the other hand, one West Australian citizen had misplaced a single account worth a monstrous $611,818.

From Australia's 14 million super proprietors, 45 % have more than one super account finally count: from 2 all the way to an incredible 22 accounts.

Do You Have Lost Super Waiting?

If you have been through numerous jobs, then it's just too feasible that you're one of the millions of Australians with lost super, specifically, if you've done a short-term or casual job. Of Australia's 14 million super members, 45 % have 2 or even more super accounts, with some having like a lot of them, a shocking 24 separate accounts. So regardless of where you live or what you do, it makes good sense to check for lost super. Here are four excellent reasons to make it a priority today.

1. It's your cash.
Every dollar of your super is cash you've worked hard for - and also, the money you will be happy to have as the time comes that you are going to quit work. A Recent research study from Rice Warner suggests the average Australian is most likely to deal with a $67,000 deficiency between their super savings and the amount they'll require for a comfortable retirement. The good thing is that some extra contribution can make a huge distinction between time, provided you make sure it works correctly.

2. You might gain better returns.
Considering that by 2012, any account with under $2,000 that has been inactive for greater than a year is submitted to the ATO. While this money still makes interest, it's just determined by the price of the Consumer Price Index - a miserable 1.6 % at the end of 2014 - merely surviving you through inflation.

By finding your lost super and settling it, you can ensure that you have obtained your money in the best financial investment alternative for your phase of life and investment design, increasing your chances of gaining higher returns for the future.

3. You can prevent additional fees or charges.
The more superannuation funds you have, the more you are likely to pay in costs and fees. You might also be paying insurance policy premiums with each super account, which can needlessly eat into your super financial savings. So consolidating your super accounts can make sound financial sense.

If you are looking for help in finding and consolidating your lost super, contact us at 1300 252 167. We will find and consolidate you super for you.

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