Lost Super

Do you know where all your Super is? Have you kept a close eye on all the accounts you’ve held with different employers?

If not, you could be costing your Retirement Savings a lot more than you would think.

Changes to Super rules which took effect in 2012, saw accounts with less than $2,000 (previously it was accounts less than $200) be sent to the ATO, for the ATO to act as the care takers for all these accounts. **There are over 3.4 million accounts, totaling over $12,000,000,000.00 (yes billion) at the ATO, that’s a rather large amount of money. Is any of it yours?

How could the ATO taking care of your smaller accounts, cost your Retirement Savings long term?

Sure, any earnings that your “Lost Super” accrues can be returned to you, this is true, however the returns are linked to CPI, usually 2-3%. The difference between the ATO and other Superannuation funds is that the ATO doesn’t offer Investment Choices, such as a Balanced fund, which may return CPI plus 5-6%. Therefore having the ATO take care of your Super could see your overall returns diminished costing your Retirement dearly.

What can be done?

Contact our friendly staff today so we can help you get your money back, and have it start working for you.

Questions to ask yourself….

When was the last time I reviewed my Super?

Do I hear from my Investment Manager on a regular basis?

If not, now is the time to take control of your Retirement and contact our friendly staff today.