news, business, superannuation, Andrew Leigh
Canberrans are being encouraged to find out if they’re the part owners of $215 million in unclaimed superannuation. Fenner MP Andrew Leigh is on a mission to see millions in lost superannuation linked to the ACT claimed by the rightful owners by this time next year. The Australian Taxation Office keeps track of lost super and has determined residents in the federal seat of Fenner have $59 million unclaimed, while residents in the seat of Bean have yet to claim $73 million. But it’s residents in the inner ACT seat of Canberra that have the most unclaimed super at $83 million. Super becomes lost when when people move jobs, change addresses and forget update their details with their fund. “Typically they’ve worked casual jobs and haven’t connected them up with their tax file number,” Mr Leigh says. “But through the ATO’s super tool, which was developed under Labor, you’re able to very quickly link up to your lost super savings.” Australians can find their super though an ATO-linked myGov account. Beyond people finding out they might have more of a nest egg, Mr Leigh said finding lost super benefits the community as some will be close to retirement and it could be only a few years before they’re spending that super and having it flow back into the economy. “They’re spending that lost super – it’s good for them, but it’s good for the community as well,” he said. Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
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Canberrans are being encouraged to find out if they’re the part owners of $215 million in unclaimed superannuation.
Fenner MP Andrew Leigh is on a mission to see millions in lost superannuation linked to the ACT claimed by the rightful owners by this time next year.
The Australian Taxation Office keeps track of lost super and has determined residents in the federal seat of Fenner have $59 million unclaimed, while residents in the seat of Bean have yet to claim $73 million. But it’s residents in the inner ACT seat of Canberra that have the most unclaimed super at $83 million.
Super becomes lost when when people move jobs, change addresses and forget update their details with their fund.
“Typically they’ve worked casual jobs and haven’t connected them up with their tax file number,” Mr Leigh says.
“But through the ATO’s super tool, which was developed under Labor, you’re able to very quickly link up to your lost super savings.”
Australians can find their super though an ATO-linked myGov account.
Beyond people finding out they might have more of a nest egg, Mr Leigh said finding lost super benefits the community as some will be close to retirement and it could be only a few years before they’re spending that super and having it flow back into the economy.
“They’re spending that lost super – it’s good for them, but it’s good for the community as well,” he said.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
Labor MP for Fenner Andrew Leigh is encouraging Canberrans to find their lost super and for the good of the economy. Picture: Sitthixay Ditthavong
