Lost Superannuation

An Wespac study has shown that one in two, that’s right half of all working Australians have unclaimed superannuation adding up to a pool of lost superannuation of $20 billion!

ACA conducted a study last month that revealed that South Australia accounts for $750 million! The biggest suburbs in the Adelaide with missing superannuation area include:

Salisbury approximately $16 million superannuationr
Aberfoyle approximately $14 million superannuationr
Andrews Farm approximately $14 million superannuationr
Morphett Vale makes up about $13.5 million superannuatio

Also on the list is the town of Mount Gambier which makes up about $16 million in lost superannuation.

The benefits of consolidating your superannuation fund are:

It is easy keep track ofr
You can monitor performance from one set of financial statementsr
You can save on tax if there are some funds that do not have your tax file numberr
It will make your accountant and financial advisor’s life much easierr
It will help you stay on track with your financial pla

I know retirement seems like it’s a long way away, but it is important that you get it under control early rather than panicking later. It’s worth taking a few minutes to check the Australian Taxation Office’s “Super Seeker” website to see if you are entitled to any missing money, here’s the link:
https://superseeker.super.ato.gov.au/SuperSeekerWeb/Super/PrivacyAgreement.aspx?Task=89926b94-edc7-499e-86ed-27244124f4ff&NavGraph=Privacy&View=Privacy&pid=71

Seriously, in the realm of personal finances consolidating your superannuation is the easiest thing you can do that can add thousands to your retirement nest egg.