20/10/2026
$21 BILLION IN LOST SUPER IS WAITING
More than $21 billion in lost and unclaimed superannuation is currently sitting idle across Australia, according to the latest ATO figures. The average lost account holds around $41,000. Last year alone the ATO reunited more than $1.1 billion with members.
That is real money that could be working harder for your retirement. Tax time is the natural moment to check whether any of it belongs to you.
How super becomes “lost”
Super generally becomes lost when an account becomes inactive and the fund can no longer contact the member. Common triggers include:
• Changing jobs and leaving an old account behind
• Moving house or updating your phone number without telling the fund
• Changing your name
When the fund cannot reach you, the account may be classified as lost. In some cases, the balance is eventually transferred to the ATO to hold until the rightful owner claims it. The money does not disappear; it simply sits waiting to be reunited with its owner.
Many people are surprised by what turns up from old accounts from early jobs, small balances that have grown over time, or larger amounts they had completely forgotten about.
This can be especially valuable if you are approaching retirement
For clients still decades from retirement, finding lost super is useful. For those at or approaching retirement age it can be particularly meaningful. An extra $20,000 or $40,000 (or more) can make a noticeable difference to the size of the nest egg available to draw on. Even smaller amounts compound further once consolidated into a single active account that continues to earn returns and attract any future contributions.
For more information contact the My Fortress Accounting team:
4771 3800
[email protected]
www.myfortress.com.au/accounting
