Approximately half of all working Australians have lost some superannuation. According to federal government statistics, this represents approximately 5.8 million currently unclaimed for super accounts, with a total estimated value of 18.8 billion – that’s a lot of people and a substantial amount they may not realise they have. Moreover, by not reclaiming lost super, you may affect the amount of money available for your retirement.

If you have switched careers, changed your name or moved house in recent years, chances are you have super building up in different funds. It is easy to lose track or even forget about multiple accounts. Therefore it is handy to have just one combined fund. If you know where your super is, you can simply apply to have these multiple accounts consolidated into a single fund of your choice. By doing this, you effectively create a simpler management structure, as well as avoid fees associated with juggling multiple funds. Tracking down your lost super can take time and money, but luckily there are a number of consolidation services that can help you along the way.

A cost-effective and simple way to locate lost super is available through The Australian Taxation Office. This service, referred to as SuperSeeker, is free to use and available online 24 hours a day, seven days a week.

So, what are you waiting for? Get cracking and track down your lost super today!

John Whitten can be contacted on 0749722081 or 0410433919. You can also email him at jwhitten@ihl.net.au or look him up on the net www.ihl.net.au. John Whitten is a credit representative (CRN 399796) of BLASSA Pty Ltd (Australian Credit Licence No 391237).