Lost and Unclaimed Superannuation

Opt-out super account consolidation initiative could save $100 million a year

An industry super fund initiative to consolidate multiple superannuation accounts on an opt-out basis will “cut through red tape” and could save eligible members an average of $260 a year in fees and insurance. Industry Super Australia announced that eighteen industry super funds, so far, were cooperating on a “collective… Read More »Opt-out super account consolidation initiative could save $100 million a year

Find lost and unclaimed super before threshold increases to $6,000: ASFA

The Association of Superannuation Funds of Australia is urging Australians to reclaim their superannuation before it goes into government consolidated revenue. Association of Superannuation Funds of Australia (ASFA) CEO Dr Martin Fahy said Australians should do themselves a “festive favour” and claim their lost and unclaimed superannuation. “$2.5 billion currently sits… Read More »Find lost and unclaimed super before threshold increases to $6,000: ASFA

Higher lost super threshold impacting retirement savings and insurance

The Association of Superannuation Funds of Australia (ASFA) says the government’s increase to the lost superannuation threshold is having an “enormous impact” on the retirement savings and insurance benefits of Australians. ASFA, pointing to recently released ATO data, says that superannuation held by the tax office increased by around $470… Read More »Higher lost super threshold impacting retirement savings and insurance