Gympie region’s lost, unclaimed superannuation worth $13 million

ATO figures just out reveal there is $13 million in lost and unclaimed superannuation sitting in 5387 unused accounts in Gympie and the surrounding area

There is $13 million in lost super in the Gympie region.

Superannuation fund QSuper is urging Gympie residents to take stock of their retirement savings.

Latest Australian Taxation Office figures revealed about $13 million in lost and unclaimed super sitting in 5,387 unused accounts in Gympie and the surrounding area.

The data shows residents in Gympie postcode 4570 own more than $11.1 million across 4,597 unused accounts.

ATO data also shows that residents in the Gympie region were reunited with more than $9.9 million in lost and unclaimed super in the financial year ending June 2020, with residents in Gympie postcode 4570 reclaiming around $8 million. Statewide, the pool of lost and unclaimed super was reduced by more than $851 million last financial year.

Elderly woman loses legal battle for former Gympie partner’s $1.6 million estate

QSuper CEO, Michael Pennisi said Gympie residents could have thousands of dollars being held by the ATO, and potentially more money sitting with old super funds if they have changed jobs numerous times.

The lost millions in the Gympie region.

Mr Pennisi said he was pleased to see that the amount of lost and unclaimed super in Gympie and across Queensland had reduced significantly over the past year.

Activate your FREE Courier Mail subscription and you could win $20,000

“I encourage all Queenslanders to take a moment to make sure they are not missing out on the money that’s rightfully theirs,” he said.

“Money in multiple super fund accounts means multiple fees and potentially insurance premiums eating into future income.

“Finding and consolidating your super is a quick and simple process using the ATO online services through myGov. You’ll be able to see all of your super, including money the ATO is holding for you as well as any old super fund accounts you may have forgotten about.”

ATO data shows Queensland residents are missing out on almost $2 billion in lost and unclaimed super. Queensland’s top ten postcodes with the highest amount are:

Australian money cash, debt, notes, coins generic. Picture: istock

1. Cairns (postcode 4870) $40,293,494

2. Mackay (postcode 4740) $36,606,452

3. Toowoomba (postcode 4350) $36,558,421

4. Stafford (postcode 4053) $24,883,039

5. Gladstone (postcode 4680) $23,919,752

6. Ipswich (postcode 4305) $ 23,897,168

7. Bundaberg (postcode 4670) $ 22,164,620

8. Gold Coast – Nerang (postcode 4211) $ 21,947,864

9. Carindale (postcode 4152) $ 21,294,728

10. Gold Coast – Southport (postcode 4215) $ 21,032,259

Originally published as Gympie region’s lost, unclaimed superannuation worth $13 million