Mandurah tops WA for amount of lost, unclaimed super

Friday, 15 November 2019 09:33

By Hannah Salt

Mandurah has the highest amount of lost and unclaimed super in WA, according to new data released today by the Australian Taxation Office (ATO).

There's over 10,000 accounts in the post code of 6210 who are missing super, to the value of over $50 million.

Under new legislation, the Tax Office is working to reunite Australians with their super which has been unclaimed or missing through job changes, working overseas, or moving home.

Last year, over 540,000 active, lost or unclaimed super accounts were recovered and consolidated, worth more than $4.4 billion.

ATO assistant commissioner Graham Whyte said they have seen people receive meaningful boosts to their retirement savings.

“We are now working to reunite Australians with these amounts by either transferring it into an active super account, or directly into their bank account where the amount is less than $200 or the member is aged over 65 years," Whyte said.

“We expect more than one million people will receive a direct payment."

The ATO data shows that there is over $20.8 billion in lost and unclaimed super across the whole of Australia.

"It’s important to know that this doesn’t mean it’s lost forever, getting back in touch is easier than you think”, Mr Whyte said.

For information on how to manage your super and view all your super accounts including lost and unclaimed super, visit ato.gov.au/checkyoursuper.