Did you know there are over 10 million Australians with a superannuation account? And approximately 36% of which hold more than one super accounts. Which makes up $20.8 billion in ‘lost super’. Is some of that yours?
Moved house? Changed jobs? Don’t know where your teenage self stashed your super? It’s easy to track it down. The ATO offers online services that help you find and manage your super. You can learn how to use this service here.
Consider Combining it
Combining your super can help you save on fees, reduce your paperwork, keep track of your hard-earned money and grow your retirement fund. But you should seek professional financial advice first to make sure combining is beneficial for you.
Many websites offer to help find and combine your super. It is quick, easy and free. Moneysmart.gov.au offers this free guide to moving your super into one fund.
You can also ask your financial adviser for help, check with your known superannuation provider or speak to the Australian Tax Office.
A professional financial adviser can help you find an appropriate superannuation fund that will grow your hard-earned income ready for your retirement. The sooner you get on top of this, the better!