Gladstone tops in unclaimed super

GTC Financial managing director Neville Hughes.
GTC Financial managing director Neville Hughes.

GLADSTONE is within the top five areas for unclaimed superannuation funds in Queensland, with the Australian Taxation Office (ATO) recording more than $47 million in lost super.

Ranking number four out of 670 postcodes across the state, Gladstone's superannuation loss equates to almost 8000 lost accounts with an average of $6049 in each.

Mackay topped the ATO's list of most unclaimed areas with more than $82 million outstanding funds.

Cairns, Charlton and Bundaberg made up the top five.

Residents in neighbouring Bracewell also recorded high figures, with more than $1.8 million lost.

Surprisingly the small township of Mount Tom, located 83 kilometres south of Gladstone, also made the list with more than $2.7 million lost across 495 accounts.

Deputy Commissioner for Superannuation Neil Olesen said new reforms to be introduced by the ATO would make it easier for people to keep track of lost superannuation.

"While most Australians have successfully reclaimed lost super recently, there's still plenty out there for people to find," he said.

Across the nation New South Wales was listed as the state with the highest unclaimed superannuation, notching almost $5 billion.

Queensland ranked second in Australia with $3.4 billion in outstanding super claims.

How to reclaim lost super

The Australian Tax Office has devised a Super Seeker search engine function on their website.

Using your Tax File Number, the ATO tracks the number of active and lost superannuation accounts people have.

The ATO also searches for super that it may hold on the fund's behalf.

How can I avoid losing track?

Always attach your Tax File Number (TFN) to your super account.

Provide your TFN to your employer when you start a new job.

Always check your superannuation statements and payslips.

Topics:  gladstone superannuation

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