Young women lead­ing way in find­ing lost su­per

Wangaratta Chronicle - North East Regional Extra - - News -

WOMEN be­tween 25 and 35 have been the most ac­tive so far this fi­nan­cial year in find­ing their lost and un­claimed su­per, ac­count­ing for more than one in five of all Aus­tralians who took ac­tion to man­age their su­per, ac­cord­ing to the Aus­tralian Tax­a­tion Of­fice.

Over­all, al­most 190,000 peo­ple have found, trans­ferred and con­sol­i­dated more than $1.8 bil­lion be­tween July1, 2017 and Jan­uary 31, 2018.

As­sis­tant Com­mis­sioner Deb­bie Rawl­ings said that while many peo­ple are now tak­ing ad­van­tage of how easy it is to find and con­sol­i­date mul­ti­ple su­per ac­counts through their myGov ac­count, there are still bil­lions in su­per wait­ing to be claimed.

“It’s great to see young women lead­ing the way in gain­ing con­trol of their su­per, and it’s great that al­most $2 bil­lion has been con­sol­i­dated so far this fi­nan­cial year, but that still only ac­counts for around 10% of all lost and un­claimed su­per,” Ms Rawl­ings said.

“The eas­i­est way to find lost or un­claimed su­per, or com­bine your ac­counts, is by us­ing ATO on­line ser­vices through myGov. About five min­utes and a cou­ple of clicks is all it takes, and it could save you hun­dreds or even thou­sands of dol­lars.”

Ms Rawl­ings said the av­er­age amount con­sol­i­dated per per- son this fi­nan­cial year is al­most $10,000.

For those new to myGov, once you have linked your myGov ac­count to ATO on­line ser­vices, you will be able to view all your su­per ac­counts, in­clud­ing any that have been lost or for­got­ten.

You can also choose to trans­fer or claim your su­per on­line if you are el­i­gi­ble.

Ms Rawl­ings said while the num­ber of peo­ple with mul­ti­ple ac­counts has been fall­ing, there are still al­most 2.3 mil­lion Aus­tralians with three or more su­per ac­counts.

“Some peo­ple might choose to have more than one su­per ac­count, but many Aus­tralians are still not aware that they have mul­ti­ple ac­counts and may have lost track of ac­counts from pre­vi­ous jobs or pre­vi­ous ad­dresses,” Ms Rawl­ings said.

“If you have mul­ti­ple su­per ac­counts with small amounts, there could be sig­nif­i­cant sav­ings in fees and charges if you con­sol­i­date them. More in­for­ma­tion: To find out how to man­age your su­per and view all your su­per ac­counts, in­clud­ing lost and un­claimed su­per ac­counts, visit­y­our­su­per or mon­eysmart. gov. au/ su­per­an­nu­a­tion- and- re­tire­ment/ keep­ing­track-and-lost-su­per.

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