Your super is yours. You earned it, so you should benefit from it when you retire. However, it’s all too easy to lose track of super. If you’ve had a number of jobs in the past, then you may have a number of super accounts in your name.

If you’ve changed your name or address, past super account providers may have lost track of you. That means there could be money lost in super accounts that belongs to you – and now it’s time to claim it.

How to find lost super

There are a number of ways to find lost super, however, one of the most common ways to find lost super is to use the ATO SuperSeeker. By registering with SuperSeeker, you can check all super accounts in your name and find any lost super that you may have lost track of.

That means checking all Australian super funds for super in your name, as well as ATO-held super. If your super fund, your employer or the government can’t find an account to transfer your super to, it is transferred to the ATO.

SuperSeeker also allows you to transfer super into the super account of your choice, allowing you to easily consolidate all your super into one super fund.

Your super fund may also be able to help you find lost super. For example, if you have a Suncorp super account, or you want to sign up for one, you can find lost super with Suncorp and have it transferred into your Suncorp super account.

The benefits of consolidating your super

So, why should you keep track of your super? And why should you consolidate it all into one super fund? First up, there are fees to think about. If you have five different super funds, you may be paying fees on all of them. If you have one super account, you will only pay fees on that one fund.

Paying too much in fees will reduce the amount of super you end up with, shaving off a percentage of your super in each of the super funds in your name.

There is also super management to think of. It’s much easier to keep track of and manage one super fund than multiple super funds. Your super should work for you, and consolidating all your super into the best super fund should allow you to make the most of your money.

Managing your super

When you receive your annual super statement, check it over.

• Check the balance is correct, checking the start and end balance. Contact your super fund if you’re unsure or if you think there is something wrong with the balance.
• Check the payments you have received from your employer are correct.
• Make sure any extra contributions you have paid into your super are included in the balance.
• Check the fees you are paying to ensure you are not overpaying.
• Check what insurance coverage your super offers.
• Check you are being taxed at the correct rate for contributions.