Lost Superannuation – What We Do for You
Australian Lost Super Pty Ltd is a private company operating Australia wide to find and consolidate lost and/or multiple superannuation accounts.
Once located, Australian Lost Super Pty Ltd can rollover your superannuation accounts into one competitively priced account to eliminate paying multiple sets of fees.
As part of the service we offer you, Australian Lost Super Pty Ltd will send you an easy to fill-in questionnaire to help determine your financial requirements from which we can advise on your superannuation consolidation.
Going forward, Australian Lost Super Pty Ltd can review your financial requirements on a regular basis to help you protect and grow your retirement nest egg.
Lost Super - Your Privacy
What is Superannuation
Superannuation was designed as a compulsory long term savings vehicle to provide for you in retirement. Money is contributed to a superannuation fund by your employer, and this money is then managed and invested by the superannuation fund for a fee with the aim of growing your retirement nest egg. There are many different investment options within superannuation funds, and you should consider what best suits your needs as it can have a big impact on the size of your retirement nest egg. People often have Life, TPD (total permanent disability), or income insurance in their superannuation and these insurances are an important consideration also when thinking about your superannuation.
Why do people have lost super?
Most people end up with lost super or multiple super accounts because they have allowed their current or a previous employer to pay their superannuation contributions into the default employer super fund. Allowing your employer to dictate where your super is paid is one of the main reasons people end up with lost super, and when people change employer they tend to just go along with the new default fund of the new employer. It’s a cycle that continues to repeat, and people can and do end up with numerous super accounts all over the place. The majority of people are now able to choose where their employer pays their superannuation, and this has been the case since July 2005. It’s your money and your retirement savings so you should think twice before allowing someone else decide where they are going to pay it.
Do I have any lost super - if so what can I do about it?
It is estimated that up to 1 in 2 Australian's have lost super or multiple superannuation accounts, and industry bodies estimate that there is over $16 billion in lost super. If you have had several different jobs, changed your name, address or contact details and not informed all of your previous employers then there’s a good chance you will have some lost or inactive super. If you have lost super it is usually recommended that you consolidate it all into one account to save paying multiple sets of fees, however there are implications that should be considered before doing this, and our team of specialists will discuss all the options with you.
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