POWERED BY MOMENTUM MEDIA
$1 billion of lost super to be reunited
Around $1 billion of unclaimed superannuation will have been received by Australians by the end of the year, according to the Association of Superannuation Funds of Australia (ASFA).
ASFA said it estimated that 700,000 Australians stood to receive a payment as a result of the latest round of consolidation of lost and small inactive super account balances.
ASFA deputy chief executive, Glen McCrea, said: “The amount of money to be transferred back into people’s super accounts will vary from small amounts up to thousands of dollars. We estimate that the average amount will be around $1,600.
“Last year the Australian Taxation Office [ATO] transferred a number of large unclaimed super payments, including $600,000 to a woman aged over 65 who had recently lost her house in a fire, and to a retired man who received a payment of $120,000.”
The association said inactive super accounts with less than $6,000 would see that balance automatically transferred into the member’s current active super account.
If the balance was less than $200 it would be sent to their bank account, and if the person was aged over 65 and the ATO had correct details the cash would be sent to their bank account regardless of the amount.
Recommended for you
Private market assets in super have surged, while private debt recorded the fastest growth among all investment types.
The equities investor has launched a new long-short fund seeded by UniSuper, targeting alpha from ASX 300 equities using AI insights.
The fund has strengthened efforts to boost gender diversity, targeting 40:40:20 balance across its investment teams by 2030.
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
