Workers in one Bendigo region postcode have amassed a whopping $17,463,054 in lost or unclaimed super.
That includes $1,323,956 that has been added since last year in the 3551 postcode, which is Victoria’s fourth largest increase.
The Australian Taxation Office has released the data in a bid to deal with lost and unclaimed superannuation.
Assistant Commissioner Graham Whyte said now is the time for Victorians to reconnect with their lost super which is spread across the state in more than 630,000 accounts.
“We’re determined to help people find their super and I’m pleased to say that in the past financial year more than $690 million was consolidated into active super accounts by Victorians, giving their retirement savings a welcome boost,” Mr Whyte said.
“Our data shows that one Toorak account has almost $1.5 million waiting to be found.”
Related: Labor in $400m super boost for women
Mr Whyte said people can lose contact with their super funds when they change jobs, move house, or simply forget to update their details.
“It’s important to remain engaged with your super fund through all stages of your career, not just when you are ready to retire.
“The data also reveals that more than a third of Australians still hold two or more super accounts.
“While we know that some people intentionally maintain a number of accounts, many are unaware that their super may be sitting in multiple accounts and possibly being eroded by fees.
“Once you have linked your myGov account to the ATO, you can view all your super account details, including any that have been lost or forgotten about, and consolidate your accounts with just a few clicks.”
For information on managing super and viewing super accounts visit ato.gov.au/checkyoursuper
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