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Super hunt worth it

IPSWICH financial advisor Rob Rush has some pretty simple words for anyone wondering if they've got some lost superannuation laying around.

As the director of Harding Martin's Financial Services, Mr Rush sees a fair cross-section of clients at different stages of planning for their retirement.

The common thread, when it comes to super, is that clients often don't see the value in hunting down what are often small contributions scattered across several super funds.

His message: If you want to enjoy the fruits of your labour, start when you're still young.

"A lot of lost super can be very small amounts that have gone into employer-nominated super funds," Mr Rush said.

"The Australian Tax Office has a good website to track it down, but a lot of people don't go to the trouble of doing it. Some people take the view that it's not worth their while."

Across Ipswich and surrounds, 11,266 super accounts are sitting unclaimed, totalling $41,112,902, with the average amount owed per account at $3649.

Mr Rush said that while professional accountants could help people track down lost super, it was more cost-effective to do the work yourself; especially if there was only a small amount of money sitting unclaimed.

"Our approach is that if it's a small amount of money, we would tell people how to do it themselves, because we don't want them to spend their lost super paying us to find it for them," he said.

"The best way forward for anyone is to take a little bit of control of their financial affairs now."

Topics:  superannuation



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