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

Finding and Consolidating Super

Can I Access my Lost Super After Leaving Australia?

People are asking whether they can access their lost super after leaving Australia, and I can answer that question by sharing one of my friend's story.

My friend Amira came to Australia many years ago with my relatives who migrated from UAE. Amira finished her studies in the country, got married and raised a family. She’s now close to ending her working life and looking forward to retiring comfortably and spending time with her family. Amira had a lot of different jobs throughout her working life in Australia, and the experience made her, even more, aware of her superannuation and keeping track of savings for her retirement.

Note: Superannuation, or super, is a payment by your employer called ‘contributions’ into a super account for you. They pay such contributions on your salary and wages. There are laws about how much super your employer must pay. You can also add your money into your super savings, and sometimes the Australian Government puts money in too.

Now back to the story. Because Amira changed jobs a lot over the years, she had a lot of super funds. She had to consolidate them all into one. Now each year, around tax time, she does what’s called the five step super check. These steps are:
• Check your super statement
• Make sure that your super fund contains your TFN
• Keep track of your super using SuperSeeker
• Check if you’re eligible for government contributions to boost your super
• Put your extra money into your super

You can only access your super money when you reach retirement age. But if you leave Australia, you can gain early access to your super before you retire. There are some differences for temporary residents working in Australia. When Amira’s uncle came to work in Australia temporarily, his employers made super contributions too. But because he was not an Australian citizen he was entitled to be paid out his super money once he permanently left Australia – this payment is called a Departing Australia super payment of DASP. It was important that before he came to Australia, he also got the right advice about any special tax rules that applied to him.

If you want to learn how to manage your super, and feel pretty comfortable about your financial future, go to - 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.

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