Unclaimed super money
Twice a year we are required to report and pay ‘unclaimed super money’ to the Australian Taxation Office (ATO). The ATO holds this money on your behalf.
You may be affected if you are in one of the three categories:
Act now to stay with us
There are some simple ways to keep your account with Aware Super and to stop the transfer of your account to the ATO:
What happens if your account is paid to the ATO?
If your account is transferred to the ATO, you will no longer be a member of Aware Super and any insurance cover you may have with us will stop. The ATO will try to transfer your balance to an active super fund if you have one. The ATO won’t charge you fees but your super will earn interest based on the consumer price index, which may be less than the investment returns you earn if your account remains with us.^1
You can claim the money from the ATO at any time. Generally, you will need to meet a condition of release to have this money paid to you in cash. Otherwise, it will need to be transferred to an eligible superannuation fund, such as Aware Super.
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Based on the performance of Aware Super’s default Growth and Balanced Growth investment options that have CPI-linked return objectives between 31/01/2010 and 31/01/2020. Investment returns for Aware Super options are net of account fees, costs and tax. Past performance is not indicative of future performance. For more information, click here ↩