Want a clue as to where you can find your lost super fund?
It sounds mad; you lost your money. However, it’s more common than you’d think. In fact, in 2015, more than 17 billion dollars worth of super funds went unclaimed.
So the question is, how is it that easy to lose so much money?
The biggest culprit in losing a superannuation fund is switching jobs. Each time you start a new job, it is more than likely that your employer starts a new super fund account in your name unless you say otherwise. But once you misplace your original super fund, there are still ways to go about finding it again. Let’s take a look.
#1. Check the Lost Members Register
Sure, you have a super fund. But have you not contributed recently or not heard from a provider representative in regards to your fund? You may very well be considered to be a lost member and not even know it. The thing about a super fund is that in order to remain an active member, you must do one or both of the following:
- Confirm your address at least once within a two year time frame.
- Indicate that you would like to remain a member of your fund.
If you have been inactive, unable to contact, or transferred from one super fund provider to another as a lost member, than you are most likely on the Lost Members Register.
#2. Create a myGov Account
This is the most beneficial choice for you. On top of being able to locate any lost super, you’ll be able to see all super fund account overviews from one place and even combine multiple super funds into one ‘preferred super fund’. All you’ll need to do is create an account and link it to the ATO.
This is what you’re looking for if you want to locate your lost super; quick, easy and painless. All you need to have handy is the following information:
- Your TFN
- Your family name
- Your given name
- Your DOB
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