A Financial Services Partners Adviser can help you find your lost superannuation and create a financial plan to help you reach your retirement goals.
What is lost superannuation?
If you have changed your name or address or have changed jobs and not told your superannuation fund, you may have 'lost' superannuation. Your superannuation is considered 'lost' if your superannuation fund has sent mail to you which has been returned or if your account has been inactive for more than 2 years.
Superannuation funds are required by law to provide this information to the Australian Taxation Office (ATO) and the records of this are held in the Lost Members Register.
It was recently reported that there are 5.8 million lost superannuation accounts worth $18.8 billion (source: ATO website). Lost superannuation is money that is not working for your future.
What kind of goals can lost superannuation be used for?
Finding your lost superannuation can help you:
- build retirement savings
- consolidate your superannuation accounts
- potentially pay less administration fees by consolidating your super
- ensure that all of your retirement savings are working for you.
A Financial Services Partners Adviser can help you find your lost super. They can also determine which other superannuation strategies can best meet your needs.
Talk to us about how we can put your lost superannuation to work for you