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Showing 1 - 10 of 40 results for "unclaimed super"

Lost super bill sits at $18bn: ATO

JAMIE WILLIAMSON  |  TUESDAY, 17 SEP 2024
... 39% belong to women. By value, 59% of the total lost assets belong to men, whereas 38% belongs to women. As for unclaimed super currently held by the ATO, this totals $5.98 billion. The bulk of this is made up of small or insoluble member accounts, inactive ...

Regulators prioritise emerging areas of risk

CASSANDRA BALDINI  |  WEDNESDAY, 22 MAR 2023
... Rosenzweig shared a few areas of focus. Rosenzweig said the ATO has just published its major statistics on lost and unclaimed super. "Since November 2019 when we started doing that up to June last year, we proactively consolidated about 4.7 million accounts ...

Multiple accounts already in sharp decline

ELIZABETH MCARTHUR  |  THURSDAY, 12 AUG 2021
... is more work to be done to reduce the number of multiple accounts and to address the $3.6 billion in lost and unclaimed super which currently sits with the ATO," McCrea said. When inactive accounts fall below $6000, they are automatically transferred ...

Key Treasury initiatives outlined

JAMIE WILLIAMSON  |  TUESDAY, 11 MAY 2021
... committing $11 million over the coming four years and $1 million per year thereafter to facilitate the transfer of unclaimed super to KiwiSaver accounts. And something that isn't expected to incur any cost, the government has said it will look to restore ...

PYSP reunites $4.3bn of lost super

KANIKA SOOD  |  FRIDAY, 19 MAR 2021
... Australians who have been reunited with their own hard-earned wages," Hume said. "There remains around $13.8 billion in unclaimed super, I encourage all Australians to take a moment to login to the ATO via MyGov and check if it's yours- it only takes ...

Aussies reunited with $1bn in lost super

ANNABELLE DICKSON  |  THURSDAY, 19 NOV 2020
... to thousands of dollars but the average will be about $1600. "Last year the ATO transferred a number of large unclaimed super payments, including $600,000 to a woman aged over 65 who had recently lost her house in a fire, and to a retired man who received ...

FSC, super sector steps up for bushfire affected

HARRISON WORLEY  |  WEDNESDAY, 8 JAN 2020
... urging those unaware of their super fund to use their tax file number to locate any lost super using the ATO's unclaimed super registers page. The FSC has also asked affected Australians to fill in the template published on its website and email ...

ATO guides SMSFs on PYSP changes

HARRISON WORLEY  |  THURSDAY, 16 MAY 2019
... small APRA funds are exempt from report and paying inactive low-balance accounts to the ATO as a new category of unclaimed super money in the same manner as larger funds. However, the ATO will now be able to proactively consolidate eligible unclaimed ...

Aon exits advice

HARRISON WORLEY  |  TUESDAY, 30 APR 2019
Aon will jettison its financial advice business, and has confirmed the transfer of its Eligible Rollover Fund to AUSfund. The Australian arm of the global financial services giant announced it will sell its finance advice arm and exit its aligned adviser ...

Aussies find $860m in lost super

HARRISON WORLEY  |  FRIDAY, 8 FEB 2019
... billions of dollars of retirement savings that remained unclaimed. "There is still over $17.5 billion in lost and unclaimed super," Whyte added.
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