Millions of dollars of super waiting to be claimed in Higgins

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Federal Member for Higgins, Kelly O’Dwyer, is encouraging people to check if they have any lost or unclaimed superannuation, with the Australian Taxation Office (ATO) having announced its latest figures.

As at 30 June this year, there were over 6.3 million lost and ATO-held super accounts worth almost $18 billion.

Ms O’Dwyer said with 27,651 unclaimed accounts worth $173,084,419 in suburbs in Higgins, it is a great reminder for people to check.

“There are many ways people can lose contact with their superannuation, including changing jobs, which may force them into a new superannuation fund, moving homes, or not updating their details with their superannuation fund,” Ms O’Dwyer said.

“I encourage everyone to log onto the ATO website to check if they have any unclaimed superannuation.”

Ms O’Dwyer said the Turnbull Government has introduced a package of reforms that will deliver a strong and modern superannuation system that is solely focused on delivering outcomes for all Australian super fund members who rely on these funds to secure their retirement.

This includes legislation to extend choice for fund to workers under enterprise bargaining agreements or workplace determinations.

“Our changes will ensure more than one million workers have the right to choose their own superannuation fund if they are currently prevented from doing so because of enterprise bargaining agreements or workplace determinations,” Ms O’Dwyer said.

“This will help to reduce the number of multiple accounts which inevitably lead to unclaimed and lost superannuation.”

For more information or to find out how to claim lost superannuation, visit www.ato.gov.au/checkyoursuper

See below for details about lost or unclaimed accounts in Higgins suburbs:

Postcode Total Accounts Total Value State
3141 4,200 $23,426,065 VIC
3142 1,770 $12,718,895 VIC
3143 1,327 $7,932,638 VIC
3144 1,157 $8,946,139 VIC
3145 2,291 $14,659,108 VIC
3146 2,239 $14,998,785 VIC
3147 1,518 $10,624,100 VIC
3163 3,628 $24,514,137 VIC
3166 2,620 $15,827,964 VIC
3181 3,949 $20,139,310 VIC
3204 2,952 $19,297,278 VIC