Reunite with 'lost' super
GRAFTON residents have more than $13 million in lost superannuation waiting to be found.
According to research from the Australian Taxation Office (ATO), Graftonians have more than 2400 accounts with an average value of $5338 that they do not even know about.
People in the postcode of 2462, which includes Wooli and Tucabia, also have a substantial amount of unclaimed super with more than $700,000 in 189 accounts averaging $3703 per account.
The ATO has introduced a new website called Superseeker.com to help people reclaim some of their hard earned.
"While more Australians have successfully reclaimed lost super recently, there is still plenty out there for people to find," said deputy commissioner for superannuation Neil Olsen.
"Superseeker can help people to not only find lost super, but move money sitting in inactive accounts to one fund and save fees and charges."
This means taxpayers can now log onto the ATO system and move money out of super funds they no longer use and get all their money in the one place.
This measure is important as small amounts of superannuation left with a company will often be chewed up by fees.
To log onto the website, people need their tax file number and either their bank account details, a PAYG summary, a share dividends summary or a Centrelink payment summary.
The ATO also suggests making sure you have provided your tax file number to your super company.
This is because the ATO has recently made changes which make it easier to find lost super and super the ATO is holding.
People earning under $37,000 may also be eligible for a new program intended to boost their super savings by $500 annually.
From July 1, 2013, the amount of super people have contribute will slowly increase until it reaches 12%.
The upper age limit for compulsory super contribution is also being removed, meaning no matter how old you are, if you are working you have to put money away.
The amount of superannuation workers have to contribute is being increased to 12%.
Regardless of how old you are, if you're working you will have to put money away.