MORE than $5.5 million of lost and unclaimed superannuation is waiting to be claimed in Echuca-Moama.
Workers may have lost or unclaimed super if they have changed their name, moved jobs, changed addresses or forgotten to update details with their super fund in the past few years.
Federal Member for Nicholls Damian Drum said there was $44 million unclaimed in Nicholls to which workers might be unaware they are entitled.
“By logging into MyGov and checking for lost super with the ATO, you could in a few clicks boost your super balance,” he said.
“Thanks to actions taken by the Federal Government, $7 billion has already been reunited with workers, but with $13.8 billion still waiting, it is worth taking the time to check.”
In Echuca-Moama’s postcodes, 3564 and 2731 respectively, there were a total of 223 lost accounts and 1614 unclaimed accounts.
Lost superannuation refers to inactive super fund accounts and ones that have lost contact with their fund member.
By law, the fund is required to transfer certain accounts to the ATO, which then becomes “unclaimed super money”.
Federal Member for Farrer Sussan Ley agreed with Mr Drum.
“The ATO has done all the work for you. No need to search, no need to hand over information. If you have lost or unclaimed super, it will be sitting there waiting for you,” she said.
“If nothing out of the ordinary appears, your super is up-to-date and in order.”
For more information, visit www.ato.gov.au
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