Returning lost superannuation benefits people not only in retirement but also those who may have suffered a serious illness or injury, according to Maurice Blackburn Lawyers.
The law firm said lost super and underpaid super remained key issues that affected many Australians.
Maurice Blackburn principal, Kim Shaw, said: "Unlike regular super accounts, no death or disability insurance cover is provided in lost super, which means members and their families cannot claim if they die or cease work due to injury or sickness".
"We have acted for many people who have discovered that they are unable to claim only after their account balances have been transferred into lost super," she said.
Shaw noted that it was important that lost super was returned to an active super account and not just any super account as many inactive accounts had their balances eaten up in fees.
"Therefore, we also call on any federal legislation introduced to address these issues to ensure that active accounts are prioritised for the distribution of lost super," Shaw said.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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