ATO report reveals Maryborough has over $4 million in lost or unclaimed super

Maryborough residents have over $4 million in lost and unclaimed super according to data released by the Australian Taxation Office (ATO) last month.

Using postcode data, the ATO found there is $17.5 billion in lost and unclaimed super across Australia, with $4.58 million in the Maryborough postcode of 3465.

The data found that there are 154 lost super accounts with a total value of $3,906,569 in the 3465 postcode and $673,849 of unclaimed super in 802 accounts.

The 3464 Carisbrook postcode had a total 108 lost and unclaimed accounts combining to a total of $509,313.

Avoca’s 3467 postcode had 138 lost or unclaimed accounts worth $460,606.

Local financial planner Phil Hooper, of Phil Hooper Financial & Insurance Services, said super can become lost over time if people regularly change jobs and lose track of their super funds.

“If people have had multiple jobs that haven’t lasted long periods of time it’s quite possible that they have accumulated multiple super funds with relatively low account balances,” he said.

“If super is not claimed after a certain period of time it ends up going into the government’s un- claimed super fund.”

For more on this story see the Front Page of The Advertiser, Friday, November 9

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