Lost mil­lions await own­ers

Tax of­fice re­veals un­claimed su­per

Geelong Advertiser - - NEWS - JEMMA RYAN Bel­mont/ Grovedale/ Waurn Ponds 3216: Torquay/ Jan Juc 3228: Co­rio/ Nor­lane 3214: New­comb/ St Al­bans Park/ Whit­ting­ton 3219: Bell Park/ Ham­lyn Heights/ Rip­ple­side 3215:$

THE Gee­long re­gion has more than $120 mil­lion in com­bined lost and un­claimed su­per, new data from the Aus­tralian Tax­a­tion Of­fice has re­vealed.

A post­code break­down of the fig­ures found the 3216 area, which in­cludes Bel­mont, Grovedale and Waurn Ponds, has a sum of lost and un­claimed su­per to­talling $25,686,160.

More than $22 mil­lion of that fig­ure is tied up in 859 lost ac­counts — an av­er­age of 25,500 per per­son — while the other $3 mil­lion to­tals from 3660 un­claimed ac­counts.

The 3216 com­bined fig­ure is more than dou­ble the sec­ond and third worst ar­eas in the re­gion: Torquay and Jan Juc (3228) on $11,374,057, and Co­rio and Nor­lane (3214) on $10,916,968.

Surf Coast towns Apollo Bay, Lorne, Aireys In­let and Fairhaven have the least VALUE OF LOST AND UN­CLAIMED SU­PER BY POST­CODE $25,686,160 $11,374,057 $10,916,968 $10,055,141 9,756,832 Full list on­line at gee­lon­gad­ver­tiser.com.au amount of lost and un­claimed su­per, to­talling less than $1 mil­lion each.

The data also shows Vic­to­ri­ans had the big­gest boost to their re­tire­ment sav­ings last year, with a re­duc­tion of over $174 mil­lion in lost and un- claimed su­per across the state.

As­sis­tant Com­mis­sioner Gra­ham Whyte said one of the ATO’s pri­or­i­ties was to re­unite peo­ple with their lost su­per, which to­tals $17.5 bil­lion across more than 6.2 mil­lion ac­counts na­tion­ally.

“I’m pleased to say that in the past fi­nan­cial year more than $3 bil­lion was con­sol­i­dated into ac­tive su­per ac­counts across the coun­try,” he said.

Mr Whyte said peo­ple of­ten lost con­tact with their su­per funds when they changed jobs, moved house, or sim­ply for­got to up­date their de­tails.

“Our ad­vice is to re­main en­gaged with your su­per fund through all stages of your ca­reer, not just when you’re ready to re­tire.”

View all your su­per ac­count de­tails, in­clud­ing any that you have lost or for­got­ten, and con­sol­i­date your ac­counts any time by link­ing your myGov ac­count to ATO on­line ser­vices. For more in­for­ma­tion, go to ato.gov.au/check­y­our­su­per

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