Australians have $16 billion worth of lost and unclaimed super, prompting a push from the ATO for everyone to check their accounts to see if they can claim any lost money. 9News
for everyone to check their accounts to see if they can claim any lost money.
New data from the ATO shows the amount of unclaimed super Australians have rose by an eye-watering $2.1 billion last financial year.Deputy Commissioner Emma Rosenzweig said people often lost contact with their super funds when changing jobs, moving house or simply not updating details."This doesn't mean your super is lost forever – far from it," she said.Super becomes lost when it is still held by the fund but a member is uncontactable or the account becomes inactive.
"The best thing you can do to ensure you're getting what you're entitled to is checking that your current contact information and bank account details are correct.""While we know that some people intentionally maintain a number of accounts, some are unaware that this is the case," she said. "If you've unknowingly got multiple accounts, you could possibly be losing hundreds of dollars a year to fees."
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