Superannuation unclaimed money in Australia

In 1992 the compulsary Superannuation system was introduced by the then Paul Keating lead Labour Party as part of their major reform package.

Addressing Australia's retirement income policies, billions of dollars have been paid by employees and employers into funds offering retirement income options for a population increasing in age.

Regular deductions have been taken out of workers pay packets and placed within super funds designed to increase in value the longer the super fund is activated. But, since it's introduction 4.3 million Australians have lost track of these superannuation contributions and now 4.4 bullion dollars has been deemed lost or unclaimed by the people who contributed them.

So how do you know if you are one of the 4.3 million Australians with unclaimed or lost Superannuation, who have every right to claim this pool of almost 4.3 billion dollars?

Lost Superannuation | Unclaimed Money

For anybody who has ever worked for any amount of time at one stage or another has had employer contributed superannuation funds deposited into one of the many hundreds of superannuation funds now operating In Australia.

Have you kept track of all the funds deposited into your Super fund? Most Australian workers have had a least 4 to 8 fulltime or partime jobs in their careers and with each job they have had money added to a Superannuation fund normally decided by the employee.

Each year you will get a notice from the super fund stating how much money you have invested with them and now you should also get a statement on your pay slip, stating how much super has been deposited in your fund.

But none the less most of us would have no idea how much lost or unclaimed superannuation we have and even less knowledge of who is managing it and who is the funds with.

But, you can know find out and in most cases it totally free to find it. If you don't have the time to find it yourself you could employ a company to do it for you, and pay their fee. Or you could go online, go to the ATO website, and do a search for unclaimed or lost superannuation. Then add your details and they will tell you exactly how much you have and were it is.

It's your money, so go and get it.

Superannuation unclaimed - finding your lost money.

Lost Superannuation | Unclaimed Money