More than $16 million in lost superannuation is waiting to be claimed in Melton and surrounding suburbs, according to statistics released by the Australian Taxation Office last week.
The figures reveal there are 2268 accounts across Melton, Melton West, Kurunjang and Toolern Vale with a total of $16,602,472 yet to be collected.
Brookfield, Exford, Eynesbury and Melton South have a total of $7,944,194 in lost super, while Caroline Springs, Ravenhall, Cairnlea, Burnside and Deer Park have $26,488,099.
ATO assistant commissioner John Shepherd said there was a total of $14 billion in lost super across Australia.
“There’s more than $6 billion of super sitting in accounts where funds have not been kept up to date with changes to personal details,” Mr Shepherd said.
“It’s easy for this to happen because when people get married or move house, the last thing on their mind is updating their details with a super fund.”
An additional $8 billion in super is sitting in accounts that have not received contributions for five years or more.
“More than 40 per cent of super account holders have more than one account,” he said. “Many of these accounts have not received contributions for some time, and those with small balances can be eroded by super fund fees and charges.”
Search for any lost super by creating a myGov account and linking to the ATO.
