Damon Mcknight
Australians have around $17.8 billion in lost and unclaimed superannuation. If you've ever changed your name, address, or job, you may have lost track of your superannuation. Your lost superannuation may be held by your super fund or by the Australian Taxation Office (ATO). It's easy to find your lost superannuation online through the ATO by using your myGov account. You can also ask your preferred super fund to conduct a search on your behalf. If you don't have a myGov account, you can create one and link it to the ATO. You can also find lost superannuation using a paper form or by searching the Australian Securities and Investments Commission's Unclaimed Money Search.
| Characteristics | Values |
|---|---|
| Total lost and unclaimed superannuation in Australia | $17.8 billion |
| Date of data on total lost and unclaimed superannuation | 30 June 2024 |
| Where is unclaimed superannuation held? | Your super fund or the Australian Taxation Office (ATO) |
| How to find unclaimed superannuation? | Use the ATO's online services through myGov or use the ATO app |
| What is required to find unclaimed superannuation? | Tax File Number (TFN) and super fund membership number |
| What if I don't have a myGov account? | Your super fund can search for lost and unclaimed super on your behalf |
| What if I have multiple super funds? | You can transfer all your money into one fund to save on fees |
| Where else can I look for unclaimed money? | Forgotten bank accounts, shares, investments, and life insurance policies through the Australian Securities and Investments Commission's Unclaimed Money Search |
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What You'll Learn
Use the Australian Taxation Office (ATO) online services through myGov
If you think you have lost super due to changing your name, job, or address without notifying your super fund, you can use the Australian Taxation Office (ATO) online services through myGov to find unclaimed superannuation. Here's a step-by-step guide:
- Sign in to myGov and select Australian Taxation Office (ATO): Go to the myGov website and log in to your account. Once you're signed in, locate and select the Australian Taxation Office option.
- Select 'Super': After choosing the ATO, you'll need to navigate to the "Super" section. This is where you'll manage your superannuation-related tasks.
- Choose 'Information and Manage' Options: Within the "Super" section, look for "Information and Manage" options. Here, you'll find various tools to check your superannuation details and make changes.
- Check Your Super Balances and Find Lost Super: With the "Information and Manage" options, you can view your super balances and search for lost or unclaimed superannuation. You can compare super products, choose a new super fund, and transfer your super to consolidate accounts.
- Use the ATO App (Optional): In addition to the web-based myGov platform, you can also use the ATO app on your mobile device for some of these tasks. The ATO website provides more information about the app and its capabilities.
- Update Your Contact Details: To prevent future issues with lost super, ensure your super funds and the ATO have your correct contact details. You can update your contact information in myGov by signing in, selecting "My Account," then "Profile," and finally, "Contact Details." Edit the details you want to change and select "Update" when finished.
Remember, if you encounter any difficulties registering for or using your myGov account, you can contact myGov for assistance or ask your preferred super fund to conduct a search for lost or unclaimed super on your behalf.
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Ask your super fund to conduct a search
If you have lost track of your superannuation, you can ask your preferred super fund to conduct a search on your behalf. This is a good option if you don't have a myGov account or are unsure whether your employer is paying your super and which fund they are paying it to.
To prepare for the search, make sure you have provided your Tax File Number (TFN) to your super fund. You can check if you've supplied your TFN by logging into your online account and clicking 'Account', then 'Tax File Number'. You can also check the AustralianSuper mobile app under 'My Details'.
If you have changed your name, address, or job, you may have super in a few accounts that you've lost track of. Your super fund might have transferred your super to the Australian Taxation Office (ATO), where it is not currently growing, or you may be paying double the fees by leaving your super with multiple funds.
You can use the ATO online services through myGov to check your super, combine accounts, and search for lost super. If you don't have a myGov account, you can find out more about creating one and linking it to your ATO online services. You can also use the ATO app for some of these things.
If you have more than one super fund, you can transfer all your money into one fund to save on fees. You can consolidate your super by completing the 'Consolidate Your Super' form online or by downloading and completing the form and emailing it back to your super fund.
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Use the ASIC Moneysmart website
Unclaimed money received by ASIC is transferred to the Commonwealth of Australia Consolidated Revenue Fund. ASIC maintains and publishes a database of unclaimed money records, which can be accessed through their Moneysmart website. This database helps people find and claim their lost money.
The ASIC Moneysmart website can be used to search for unclaimed money lost in old bank accounts, shares, investments, and life insurance policies. To search for unclaimed money, simply enter your name or OTN and select 'Search'. If your search is successful, any unclaimed money will be displayed, along with details on how to make a claim. It is important to note that there are no time limits on claiming this money, and interest is payable to the claimant on the unclaimed money held by ASIC since 1 July 2013.
If you are unsure whether you have lost or unclaimed superannuation, it is recommended to check with your super fund or the Australian Taxation Office (ATO). You can also use the ATO's online services through myGov to check your super, combine accounts, and search for lost super. To do this, simply sign in to your myGov account, select the Australian Taxation Office, and then select 'Super'.
It is worth noting that if you have recently opened a new super account, it may take up to six months to appear on myGov. Additionally, if you are unable to register for a myGov account, your super fund can search for lost and unclaimed super on your behalf.
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Use the Australian Taxation Office (ATO) app
If you think you have lost super and it’s not in your Australian Taxation Office (ATO) online account, you can use the ATO app to search for it. The ATO app can be used for some of the same things as the ATO online account, such as checking your super balances, finding lost super, comparing super products, and choosing a new super fund.
To use the ATO app to find lost super, you will first need a myGov account linked to the ATO. Once you have downloaded the app and linked your myGov account, you can use the super health check to look for lost super. The super health check includes step-by-step instructions on looking for lost super, consolidating, and preventing lost super.
If you can’t register for a myGov account, your super fund can search for lost and unclaimed super on your behalf. If you are a beneficiary of a deceased person, you may be able to claim their unclaimed superannuation money (USM).
If you are aged 65 or over, the ATO may make a direct lump-sum payment to you of your unclaimed super money. If you don't wish to receive a direct payment, you must request a super fund nomination over the phone.
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Use the ATO's superannuation search tool
If you think you have lost superannuation, the first step is to check your ATO online account through myGov. To do this, sign in to myGov and select the Australian Taxation Office, then select 'Super' and choose from the 'Information and manage' options. Here, you can check your super balances, compare super products, and transfer your super.
If you don't have a myGov account, you can create one and link it to the ATO. You can also use the ATO app, which provides step-by-step instructions on looking for lost super, consolidating accounts, and preventing future losses.
If you have multiple superannuation accounts, it's important to combine them to avoid excessive fees. You can do this through your ATO online account or the ATO app.
If you can't find your lost superannuation through your ATO online account, it may be because your contact details are outdated. Contact your previous super funds to see if they hold your super or have transferred it to the ATO. You can also ask your preferred super fund to conduct a search on your behalf.
Make sure to keep your contact details up to date with your super fund and the ATO to avoid losing track of your superannuation in the future.
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Frequently asked questions
You can find your lost superannuation by using the Australian Taxation Office (ATO) online services through myGov. You will need to sign in to myGov and select Australian Taxation Office, then Super. From there, you can find any lost superannuation.
If you don't have a myGov account, you can create one and link it to the ATO. You can also ask your preferred super fund to conduct a search on your behalf.
You will need your Tax File Number (TFN) and, if you want to transfer your unclaimed super to your preferred super fund, your super fund membership number.
Your lost superannuation may be held by your super fund or by the ATO. If your super fund is unable to contact you, your super may be transferred to the ATO, where it will remain until claimed by you.
