66,000 Aussies act on lost and unpaid super

7 February 2019
| By Hannah |
expand image

Over $860 million in lost and forgotten superannuation was consolidated in the last quarter of 2018, as over 66,000 Australians made claims through myGov and the Australian Taxation Office (ATO).

At the same time as saying he was pleased that so many Australian had actively sought out their lost super, Federal Assistant Treasurer Stuart Robert called on the Labor Party to support the Coalition’s superannuation reforms.

“The Government’s reforms cap low balance fees at three per cent, ban exit fees, provide greater choice of funds as well as closing a loophole allowing employers to reduce their superannuation guarantee payments for people who salary sacrifice,” Robert said.

“Importantly, the reforms will also allow the ATO to proactively reunite people with their lost and unclaimed super where the combined balance exceeds $6,000.”

There was still over $17.5 billion in lost and unclaimed superannuation remaining.

Read more about:


Add new comment

The content of this field is kept private and will not be shown publicly.

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

6 months 3 weeks ago
Kevin Gorman

Super director remuneration ...

6 months 4 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

6 months 4 weeks ago

Submissions and nominations have opened for the inaugural Momentum Media Australian AI Awards 2024, which champions the wealth management industry for contributing to the...

21 hours ago

According to economists, interest rates are unlikely to rise again despite stronger-than-expected inflation data that has made Australia an outlier among the G10....

1 day 21 hours ago

It has announced returns of more than 16 per cent across its growth and global index options....

2 days 20 hours ago