Encourage your clients to check if they have any lost super to claim. The latest data reveals that since 2021, we’ve reunited or paid out almost $6.4 billion in ATO-held super. However, there is still almost $17.8 billion in lost super waiting for people to claim.
If your clients have ever changed their name, job, or super fund, they could have lost super. Even finding a small amount of lost super could make a big difference to their final balance at retirement.
Finding Lost Super
Let your clients know that using ATO online to find lost super is easy and only takes a few minutes. They will need a myGov account linked to the ATO. Once they link their myGov account, they can also use the ATO app.
Using ATO online services through myGov, they can:
- Check for lost super
- Transfer lost or ATO-held super to an eligible superannuation account
- Withdraw ATO-held super (if the amount is less than $200 or if they are aged 65 or over).
If a client wants to keep their super with the same fund(s), they need to contact each fund directly to update their contact details and tax file number (TFN).
Trouble Finding Lost Super?
If your clients think they have lost super but can’t see it on ATO online, we may not have all their details.
They should contact their super fund to check their member number, the amount of lost super, and when their fund transferred it, before contacting us.
Preventing Lost Super
It’s important that clients keep track of their super, especially when changing employers. Remind them to keep their contact details and TFN up to date with us via ATO online and with their super fund.
For more information about searching for lost super, visit our website.
Please note: Many of the comments in this publication are general in nature, and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.
