Lost and found super

Make the most of your super by keeping track of it.

Keeping track & lost super

Have you kept track of all your super? If you’ve ever changed your name, address, job, or done casual or part-time work, you may have lost track of some super.

See how to check your super by registering for the Australian Taxation Office’s online services via myGov so you can:

• See details of all your super accounts, including any you have lost track of or forgotten
• Find ATO-held super – if the government, your super fund or your employer can’t find an account to transfer your super to, the ATO holds it on your behalf
• Transfer your super (including lost and ATO-held super) to the super account you want. Fund-to-fund transfers will generally take 3 working days.

Registering online with the ATO will help protect the personal information displayed and ensure that any transactions are only made by you.

Check your super statement

Getting your annual super statement is a great trigger to do a quick review of your super.

Whether you receive your statement by post, online or in an email don’t neglect or delete it. Check the following details and think about any changes you want to make.

• Balances – Check the balance at the start and end of the year. If the balance doesn’t look right or you’re just not sure, contact your super fund straight away.
• Employer’s payments – Make sure you received all your super from your employer – see below for more details on what to look for.
• Extra contributions – Be sure any extra money you paid in is included. See contributing extra to super .
• Fees – Make sure you’re not overpaying because that can really eat away at your super over time. For more information see super fees . And if you’re not happy with the fees you’re paying consider changing super funds .
• Insurance – Check you’re covered for the right amount of insurance through super .
• Tax – Ensure you are being taxed at the correct rate for contributions, usually 15%.
• Investments – Make sure you’re in the investment options you chose and all returns are being credited to your account  – these could be positive or negative.

If you don’t understand the statement or think there is an error, contact your super fund. You have the right to a clear explanation.

Keep all your statements in a safe place so you can keep track of your accounts and know how to contact your fund.

Check your employer’s super contributions

Employers must pay contributions at least quarterly, although many employers make their super payments more often than that. Your payslip must show the amount of super contributions that have been paid into your fund and the date they are to be paid into your account.

Your employer must make minimum contributions according to the current super guarantee (SG) rate, although they can elect to pay more than the minimum. Use our employer contributions calculator to check that you are receiving what you are entitled to.

Employer contributions calculator

This is especially important if you are a casual or part-time worker. Talk to your employer if you don’t think you are being paid the correct amount of super.

If you are concerned about unpaid super contributions, see the ATO’s information on unpaid super or call 13 10 20.

Keep track of your super to boost your retirement income. The sooner you take control, the greater the benefit. Act now.

The information in this article is of a general nature only and does not consider your personal objectives, financial situation or particular needs.

Source: ASIC’s MoneySmart website, 02 September 2015. https://www.moneysmart.gov.au/superannuation-and-retirement/keeping-track-and-lost-super