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Lost Superannuation

The Tax Office is embarking on a long term project aimed at helping reunite individuals with their lost super accounts.

The project will run for three years and commences in February 2005 with a mail out to people currently on their lost members register.

The lost members register, maintained by the Tax Office, is a central register of lost superannuation fund members and retirement savings account holders.

The ATO plan to send out 500,000 letters before the end of the 2005 financial year. The letter notifies individuals of lost accounts that potentially match their personal details and includes contact details of the fund.

The letter encourages members to contact their funds directly to reclaim lost superannuation.

Subject to certain criteria, a person is considered to be a lost member if funds are unable to contact them or their account has been inactive, or they joined a fund as a lost member.

Individuals can search the Lost Members Register online at http://ato.gov.au/onlineservices/content.asp?doc=/content/36245.htm

Copyright ATO, 17 December 2004. http://ato.gov.au/superprofessionals/content.asp?doc=/content/50937.htm&page=2&H2

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