Find your super and give a damn about it – it’s your money after all

OK, I have been talking about this with so many people over the last couple of weeks that I had to write a quick post about it. Superannuation… Let’s face it, not a hot topic in most peoples books and something that most workers couldn’t give a rats about but I’m going to give it a shot. Think for a second, If your boss paid you a weeks wage into your account and then said you have to give back 9% because they were going to go spend it on your future., you’d want to know what and how they were going to spend it right??? Damn straight you would. Well this is happening every week with your super contributions, only to most people its just a number that shows up on your payslip… You don’t really see it, you don’t really know where its going and you don’t really care because you can’t touch it for like a billion years! Speaking of billion, the ATO says their is currently around $20.2 Billion dollars in unclaimed super lurking in the abyss (Australian Taxation Office, commissioner of taxation annual report 2010-11). Chances are that some of that is yours. Tip for you today, give a damn about it. The reason it exists is because you need a big pile of cash to survive on after you decide to retire and these days, from retirement until till you’re expected to drop off the perch is a looonng time. Quite possibly just as long as you were in the work force! This being the case, that pile needs to be stacked high to ensure it lasts as long as you do. You need this thing to be working for you, you need to know where it all sits and you need to be looking after it as early as possible.

All private sector superfunds must report and pay their unclaimed super money to the ATO so that’s the best place to start the search for any unclaimed money. Go to and use their “superseeker” facility to track it down. They also have a 24/7 phone line 13 10 20 but, hot tip, have your tax file number handy in order to access this information. As an added bonus if the balance is less than $200 you can withdraw this money tax free, regardless of your age.

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