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Is there lost super in your area? Compare the top ten postcodes
Australians are putting in the hard yards to reclaim their lost superannuation, but there are still billions of dollars waiting to be claimed.
According to the Australian Tax Office (ATO), the total amount of lost super in Australia was reduced by $420 million over 2017-2018, however $17.5 billion is still out there, spread across more than 6.2 million accounts.
ATO assistant commissioner, Graham Whyte, said that over the past financial year over 530,000 active, lost and unclaimed super accounts worth almost $3.2 billion were consolidated using myGov, though there are still plenty of inactive and lost super accounts out there:
“For example, one New South Wales account has over $2.2 million waiting to be found.”
“We know that more than a third of Australians still hold two or more super accounts. While some people intentionally maintain multiple accounts, a lot of people are unaware of this, and that their super is possibly being eroded by fees.”
Top ten postcodes with the highest amount of lost and unclaimed super
Compared with last year, Mackay remained the Australian area with the most lost super. New areas included the top ten this year included Sydney and Hoppers Crossing, while Bondi and Cranbourne left the top ten.
| Postcode | State | Total number of accounts | Total value | Rank change since last year |
|---|---|---|---|---|
4740– Mackay and surrounds | QLD | 12,140 | $60,172,250 | No change |
2170 – Liverpool and surrounds | NSW | 13,236 | $59,192,322 | +1 |
4870 – Cairns and surrounds | QLD | 15,450 | $57,463,430 | -1 |
3030 – Werribee and surrounds | VIC | 10,457 | $56,665,113 | +1 |
4350 – Toowoomba and Surrounds | QLD | 13,425 | $53,259,353 | -1 |
2560 – Campbelltown and surrounds | NSW | 11,310 | $50,193,212 | No change |
2010 – Surry Hills and Darlinghurst | NSW | 7646 | $45,659,021 | +1 |
2000 – Sydney CBD | NSW | 6520 | $44,048,306 | New entry |
6210 – Mandurah and surrounds | WA | 10,983 | $43,997,603 | -2 |
3029 – Hoppers Crossing and Surrounds | VIC | 9296 | $43,761,841 | New entry |
Source: ATO
Disclaimer
This article is over two years old, last updated on October 16, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent superannuation articles.
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