Nearly $18 billion in lost super is waiting to be claimed. 

The Australian Taxation Office (ATO) is encouraging people to check if they are among those missing out on retirement savings due to outdated contact information or multiple super accounts, with more than $17.8 billion in lost and unclaimed superannuation on the books. 

“Since 2021, the ATO has reunited almost $6.4 billion of unclaimed super with its owners. But there is still more than $17.8 billion waiting to be found,” says Deputy Commissioner Emma Rosenzweig.

She said that many people may have lost track of their super due to changing jobs, moving homes, or simply not updating their personal details with their super fund.

Rosenzweig also pointed out that retirees are not exempt from having unclaimed super, with the ATO holding $471 million for individuals aged 65 and over. 

“We want to make sure Australians are claiming the investment they’ve worked for,” she said.

The ATO advises Australians to begin by checking their superannuation accounts online or through their funds. 

A five-step Super Health Check is available on the ATO website, which aims to assist individuals in consolidating multiple accounts, checking balances, and recovering lost or unclaimed funds. 

Completing the process only takes a few minutes, but could help Australians reclaim significant amounts from their super.

The ATO is urging all Australians, especially those who have changed jobs or moved homes, to take action and ensure their super is accounted for.

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