Miss­ing mil­lions listed

Warragul & Drouin Gazette - - NEWS -

Su­per­an­nu­a­tion money to­talling more than $30 mil­lion that be­longs to peo­ple that have lived, or still live, in an area stretch­ing from Garfield to Trafal­gar and dis­tricts north and south of Princes High­way is be­ing held by the Aus­tralian Tax­a­tion of­fice.

The money is re­garded as lost or un­claimed.

About 1000 of the ac­counts that hold the bulk of the money are in the “lost” cat­e­gory; that is, they be­long to peo­ple that may have died, no longer live in Aus­tralia, can­not be lo­cated or have lost con­tact with their su­per­an­nu­a­tion funds of­ten by not no­ti­fy­ing change of ad­dress.

How­ever, al­most five times that num­ber of ac­counts are re­garded as “un­claimed” although their val­ues are con­sid­er­ably less.

The funds held by the ATO are pay­ments from em­ploy­ers, su­per­an­nu­a­tion funds, re­tire­ment sav­ings ac­counts or the gov­ern­ment.

The ATO has re­cently pub­lished a list of out­stand­ing lost and un­claimed su­per­an­nu­a­tion ac­counts based on post­codes.

The 3820 and 3818 post­codes, cen­tred on War­ragul and Drouin re­spec­tively, ac­count for more than half of the to­tal funds be­ing held by the tax­a­tion of­fice.

Fig­ures for district post­codes are:3814 (in­clud­ing Garfield and Garfield North), $1.62 mil­lion.

3815 (incl. Bun­yip, Bun­yip North, Iona, Ton­im­buk), $1.69 mil­lion.

3816 (incl. Long­warry, Modella, Laber­touche), $1.86 mil­lion.

3818 (incl. Drouin, Drouin South, Drouin East, Drouin West), $7.29 mil­lion.

3820 (War­ragul), $8.35 mil­lion.

3821 (incl. War­ragul South, War­ragul West, Ellinbank, Rokeby, Buln Buln, Buln Buln East), $1.25 mil­lion.

3822 (incl. Dar­num, Clover­lea) $436,000.

3824 (incl. Trafal­gar, Trafal­gar East, Trafal­gar South), $2.92 mil­lion.

3831 (incl. Neerim South, Neerim, Neerim East), $921,000.

3832 (incl. Neerim Jun­tion, Neerim North), $88,000.

3833 (incl Noo­jee, Icy Creek, Baw Baw, Mount Baw Baw vil­lage), $1.35 mil­lion.

ATO as­sis­tant com­mis­sioner Gra­ham Whyte said su­per can be lost when peo­ple lose con­tact with their funds or for­get to up­date de­tails.

He said it was im­por­tant to stay en­gaged with su­per funds through­out ca­reers and not just when near­ing re­tire­ment.

In­for­ma­tion on su­per­an­nu­a­tion ac­counts in­clud­ing lost and un­claimed funds can be ac­cessed at ato.gov.au/check­y­our­su­per

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