Missing super dormant

AUSTRALIANS are missing out on more than $ 18 billion in ‘‘ lost’’ superannuation sitting in unused accounts, a survey says.

Forty-seven per cent of Australians are likely to have superannuation sitting in old accounts, the Westpac survey found.

It found 38 per cent of Australian consumers don’t know whether they have lost super, while 57 per cent have never searched for it.

‘‘Lost’’ superannuation are contributions dormant accounts and accounts set up by a previous employer, Westpac says.

I t said there was $18.1 billion worth of lost super.

The ACT has the most lost super per person ($2912), followed by the Northern Territory ($2845) and Western Australia ($2731).

Westpac head of superannuation, Deanne Stewart, said Australians needed to stay on top of the issue.

‘‘Superannuation is a subject that most people tend to avoid, particularly when it comes to lost super, where Australians seem to be disengaged,’’ she said.