Darwin’s northern suburbs account for the biggest amount of lost and unclaimed superannuation in the Territory

ALMOST $112m belonging to Territory workers is waiting to be claimed, in the form of lost and unclaimed superannuation

ALMOST $112m belonging to Territory workers is waiting to be claimed, in the form of lost and unclaimed superannuation.

NSW tops the nation in unclaimed and lost amounts at more than $3bn, with Victoria and Queensland around $2bn.

WA has just over $1bn lost or unclaimed superannuation and is followed by SA with $798m, the ACT with $231m and Tasmania with $135m. Darwin’s northern suburbs account for the biggest amount of lost and unclaimed superannuation in the Territory, at $48.5m.

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Palmerston and Alice Springs each have $17m in lost and unclaimed superannuation.

Darwin’s rural area is not far behind on $16m.

All up there are 25,568 lost or unclaimed accounts belonging to Territorians.

Workers may have lost or unclaimed super if they have:

• Changed their name

• Moved jobs or changed addresses

• Forgotten to update details with their super fund in the last few years.

Federal Superannuation, Financial Services and the Digital Economy Minister Jane Hume said lost super occurred when members lost contact with their fund or the member’s account was inactive for a period of time.

By law, the fund is required to transfer certain accounts to the ATO, which then becomes “unclaimed super money”.

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“There is around $13.8bn in unclaimed super, I encourage all Australians to take a moment to login to the ATO via MyGov and check if it’s yours — it only takes a moment,” Minister Hume said.

“The government’s Protecting Your Super reforms have resulted in the ATO reuniting more Australians with their lost and unclaimed super.

“Since November 1, 2019 to February 28, 2021 almost 3.3 million accounts worth almost $4.3bn has been proactively reunited and paid out to their rightful owners.”

To search for lost super, visit ato.gov.au/forms/searching-for-lost-super/