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

Let's Talk About Lost Superannuation

Some of you may have or think you may have lost superannuation accounts. This article is for you.

In December 2013, the government issued a draft proposal about small superannuation accounts for lost members.

Under our current rules, lost super accounts with balances of less than $2,000 are automatically transferred to the Commission on Taxation. The draft legislation proposes an increase to this threshold by December 2015 to $4,000, and by December 2016 to $6,000.

Important Things to Consider

These proposals have been borne about by essentially trying to avoid small superannuation accounts being eroded by insurance premiums and Superfund fees. What this message does is bring back into focus the need and importance of:

• knowing where your superannuation is
• who's looking after it
• how it is invested
• what your asset allocation is
• what you are being charged
• who your beneficiaries are of your superannuation money
• whether you have insurance inside your superannuation

It's very important to get a grasp on those aspects of your super fund. Sometimes making small but positive changes to your superannuation fund can make a big difference to the result over an extended period. Because that is what you are looking for a long-term guarantee. You want to retire with enough money in your super fund to allow you to live the rest of your life in ease and comfort.

Thank you for reading through this section. You will find more in-depth information about lost superannuation at www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

Loading PLease Wait..