UP FOR GRABS: Rockhampton has $78m of unclaimed super

ABOUT 143 people could retire comfortably on Rockhampton's $78 million pool of unclaimed super.

APN Australian Regional Media research reveals $78,257,914 is gathering dust in the Rockhampton-Livingstone region's 7194 forgotten superannuation accounts.

The Association of Superannuation Funds of Australia says today's retirees need a nest egg of $545,000 to live out their lives "comfortably".

The Australian Taxation Office estimates that each unclaimed account is costing its owner at least $532 a year in fees and charges.

"If you already have lots of super accounts, you need to know that every super account costs you money," an ATO spokesperson said.

"Combine any super accounts you no longer need.

"But remember, before you close your super accounts, check with your fund about insurance and fees and charges."

National Seniors Australia chief executive officer Michael O'Neill said many retirees could not afford to lose large amounts of money.

"Whether it's lost superannuation or lost savings - all that can be part of your retirement income so it is terribly important that people connect with their super, that they connect with their lost savings and to maximise what they have got going into retirement," Mr O'Neill said.

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Combined Pensioners and Superannuants Association research and advocacy manager Amelia Christie said unclaimed accounts could easily become small change over time.

"It's really important that people do find their super and consolidate it into one account because they could be paying fees across the board," Ms Christie said.

"There is a chance, particularly if you don't have much in the account, that you will lose it all."

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Find your nest egg post haste

THERE are 7194 unclaimed super accounts in the Rockhampton-Livingstone region and postcode 4701 is home to most of them.

APN Australian Regional Media analysis of Australian Taxation Office data reveals $24,418,341 is sitting in 2335 accounts scattered across the 4701 district.

Filling out the top three lost super postcodes are 4702 where 1681 accounts hold $18,995,706 and 4700 which has 1215 accounts containing $13,325,588.42.

- APN Australian Regional Media


 



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