It’s easy to lose track of your super when you move or change jobs. It’s also easy to find it and takes less than ten minutes. Having more than one account means paying more fees that can reduce your super balance over time.
Key points
- You may have super accounts you’ve forgotten about or don’t know about. This can happen for a few reasons including if you’ve:
- changed jobs,
- changed your name, or
- moved overseas.
- Australians have around $16 billion in lost and unclaimed super. Super funds need to transfer unclaimed super to the ATO. If your Aware Super account is transferred to the ATO, you'll no longer be a member. Any insurance through your super account will also stop.
- If your super is transferred to the ATO, they will try to find your active super account. They will pay the money to your active account if you have one.
How super becomes lost or unclaimed
You may have super accounts you have forgotten or don’t know about if:
- you have not specified your super fund with each job change and been added to your employer’s super plan
- you have married or changed your name
- you moved overseas
- your fund has not been able to contact you. For example, if you’ve moved house and not updated your details
- your account has not received a contribution or rollover for a period of time.
Why finding your super matters
Finding and combining your super into one fund is a positive step in taking control of your finances.
Having more than one account means paying more fees that can reduce your super balance over time.
Super accounts held by the ATO earn interest at the consumer price index rate. This rate may be significantly less than investment returns from a super fund.
One account also means one statement and less paperwork. You also only need to remember one login and password.
Best of all, you can be confident you haven’t lost any of your hard-earned money.
This happens if:
- Your super fund loses contact with you, and
- There’s been no contribution or rollover to your account for 12 months.
Your account is inactive when there’s been no contribution to your account for five years.
Your super fund will hold your lost super until they find you. If they can’t find you, some types of lost super will be transferred to the ATO.
If you’re identified as someone with lost super, your super fund will contact you. They may send you an email, SMS or letter. It will let you know what action you need to take to reclaim your super.
- Download our award-winning app from the Apple Store or Google Play.
- Create an account or sign in
- Go to the Profile screen and select Update details. Add your mobile number if you haven’t already.
- Go to Accounts
- You will receive a PIN code to prove it’s you. You will need to verify your identity with two pieces of Australian identification. This could be a Medicare card and driver licence.
- Select Consolidate now and follow the prompts.
- You will receive a list of accounts if you have lost super. Select Consolidate.
- Sign in to your account
- Select Contributions and go to Consolidate super.
- You will receive a PIN code to prove it’s you. You will need to verify your identity with two pieces of Australian identification. This could be a Medicare card and driver licence
- Review what super we’ve found and select Consolidate.
- Print the Transfer request form and post it to us.
- You’ll need to know all your super funds' names and account numbers.
- This is a good place to start but you may not find ATO-held super in your name.
- Log in to myGov
- Link your account to the ATO if you haven’t already
- Go to Manage my super
The ATO’s automated super search phone number is 13 28 65.
Before you start
It saves time if you have as much as possible of the following information ready.
Your:
- tax file number (TFN)
- name
- date of birth
- visa status (if applicable)
- postal address
- daytime phone number
- email address
Details of known funds:
- super fund name
- account number
- beneficiaries
- period of contributions
- previous name/s, addresses and employment
Unclaimed super
Super funds need to report and pay unclaimed super to the ATO twice a year. There are several reasons super might be transferred to the ATO. These include certain lost accounts and unclaimed super money of former temporary residents.
If your super is transferred to the ATO, they will try to find your active super account. They will pay the money to your active account if you have one.
Visit the ATO website to learn more about unclaimed super.
If you’re 65 or older
The ATO may make a direct lump sum payment to you if they can, when they receive your unclaimed super money. At that point your super will be withdrawn from the superannuation system. You can request the funds to be paid to a super account, but this can only be done over the phone. You can find out more on the ATO website.
Leaving some or all of your money in your super account means your money stays invested. It also means you can hold onto your insurance cover. You can also continue to contribute while you decide how best to use your money. Keep in mind, investment earnings are taxed at 15%.
What you need to do to keep your Aware Super account
There are some simple ways to keep your Aware Super account and stop the transfer of your super to the ATO.
If you are 65 years or older
Your super might be at risk of being transferred to the ATO if:
- We haven’t received any contributions or rollovers from you for 2 or more years, and
- We’ve been unable to contact you for five years.
Here are some ways you can keep your account with us.
Call us on 1300 650 873 and confirm your contact details or log in to your account. This will ensure your super money stays with us.
There are several ways you can add to your super. Adding to your super account will activate it and ensure your super money stays with us.
Combine any other super you have into your Aware Super account. This will also activate your account.
If you have an inactive low balance account
An inactive low balance account:
- Has a balance of less than $6,000, and
- Has had no contributions or rollovers for 16 months.
- Has no insurance
Here are some ways you can keep your account with us.
Inactive Low Balance Authorisation form
Contribute to your account
You can activate your account by contributing. The easiest way to contribute is via BPay®.
- Biller code: 736850
- Customer reference number: you can find this by logging in to your online account or by checking your latest statement.
Download and complete our form. You can choose us as your super fund and either email or print a copy and give to your employer.
Use our find and combine tool to combine any super you may have with another fund into your account.
Making or changing a binding beneficiary nomination will activate your account.
You can update your investment options in your online account at any time. A change to your investment options will activate your account.
What happens if your account is paid to the ATO?
You’ll no longer be an Aware Super member if your account is paid to the ATO. Any insurance cover you 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. This may be less than the investment returns you earn by keeping your account 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.
Where to next?
Attend an event
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Find your lost super
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Simple advice at no cost
Take advantage of simple financial advice over the phone or virtually. Our superannuation advisers can help with questions about your Aware Super account.