$80 million just waiting to be claimed on Northern Rivers
THERE is more than $80 million in lost and unclaimed super on the Northern Rivers, with about $20 million of that just in the 2480 postcode.
New data has been released by the Australian Taxation Office in an effort to encourage people to take action.
Assistant Commissioner Graham Whyte said consolidating super accounts could give your retirement savings a welcome boost.
He said people can lose contact with their super funds when they change jobs, move house, or simply forget to update their details.
"It's important to remain engaged with your super fund through all stages of your career, not just when you are ready to retire," he said.
"The data also reveals that more than a third of Australians still hold two or more super accounts."
This is the amount of unclaimed and lost super in the main postcode areas on the Northern Rivers:
- 2480 (Lismore and surrounds): $21.3 million in 5522 accounts
- 2478 (Ballina and surrounds): $12.3 million in 3368 accounts
- 2470 (Casino area): $5.1 million in 1593 accounts
- 2481 (Byron Bay): $9.2 million in 2717 accounts
- 2474 (Kyogle area): $3.5 million in 849 accounts.
The approximate value across all postcodes from 2469-2483 is about $80 million.
Mr Whyte said it was easy to keep track of your super by linking your myGov account to the ATO.
"You can view all your super account details, including any that have been lost or forgotten about, and consolidate your accounts with just a few clicks," he said.
"Tax time is a great time for individuals to check up on their super, particularly if they plan on doing their own tax return using myTax."
The ATO advises anyone who wishes to consolidate their accounts but is concerned about issues such as insurance linked to their accounts, to contact their super fund.
For information on how to manage your super and view all your super accounts including lost and unclaimed super, visit ato.gov.au/checkyoursuper