Mount Isa is home to some of the most unclaimed or lost super in Queensland.
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More than $22 million of super is sitting idly by – slowly being chewed up by fees.
The hoard of super is spread across 5180 accounts in Mount Isa’s 4825 postcode.
Cloncurry is a lot better off with just over $3 million lost.
ATO assistant commissioner Graham Whyte said the tax offive is trying to reunite people with their lost super which is spread across more than 6.2 million accounts across the country.
Mr Whyte said people often lose contact with their super funds when they change jobs, move house, or simply forget to update their details.
“We know that more than a third of Australians still hold two or more super accounts. While some people intentionally maintain multiple accounts, a lot of people are unaware of this, and that their super is possibly being eroded by fees,” Mr Whyte said.
“Our advice is to remain engaged with your super fund through all stages of your career, not just when you’re ready to retire.”
You can view all your super account details, including any that you have lost or forgotten, and consolidate your accounts any time by linking your myGov account to ATO online services.
“If you’re not sure whether to consolidate, check with your super fund who can advise you on issues such as insurance that may be attached to your accounts,” Mr Whyte said.
“Tax time is a great time for individuals to check up on their super, particularly if they plan on doing their own tax return using myTax.”
For information on how to manage your super and view all your super accounts including lost and unclaimed super, visit ato.gov.au/checkyoursuper