Find your Lost Super
It is important to keep track of your super. If you’ve ever changed your name, address or job, you may have lost track of some of your super. Having several super accounts could mean that fees and charges are reducing your overall super investment. There are a number of ways to check and manage your super.
Use myGov for a full view of your super
You can create a myGov account and link the ATO to:
- see details of all your super accounts, including any you have lost track of or forgotten about
- find ATO-held super – if the government, your super fund or your employer can’t find an account to transfer your super to, it is held on your behalf
- combine multiple super accounts by transferring your super into your preferred super account; if this is a fund-to-fund transfer it will generally be actioned within three working days.
To find out if you have lost super please visit the below link
https://superseeker.super.ato.gov.au/SuperSeekerWeb/Super/PrivacyAgreement.aspx?Task=a71ea0b4-0b0c-4eac-a305-aa2ad327899a&NavGraph=Privacy&View=Privacy&pid=71
Check your super statement
Getting your annual super statement is a great trigger to do a quick review of your super.
Whether you receive your statement by post, online or in an email don’t neglect or delete it. Check the following details and think about any changes you want to make.
- Balances – Check the balance at the start and end of the year. If the balance doesn’t look right or you’re just not sure, contact your super fund straight away.
- Employer’s payments – Make sure you received all your super from your employer – see below for more details on what to look for.
- Extra contributions – Be sure any extra money you paid in is included. See contributing extra to super.
- Fees – Make sure you’re not overpaying because that can really eat away at your super over time. For more information see super fees. And if you’re not happy with the fees you’re paying consider changing super funds.
- Insurance – Check you’re covered for the right amount of insurance through super.
- Tax – Ensure you are being taxed at the correct rate for contributions, usually 15%.
- Investments – Make sure you’re in the investment options you chose and all returns are being credited to your account – these could be positive or negative.
If you don’t understand the statement or think there is an error, contact your super fund. You have the right to a clear explanation.
Keep all your statements in a safe place so you can keep track of your accounts and know how to contact your fund.
Source- www.ato.gov.au
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