Northam residents could have a share in $5 million worth of lost super

​Residents of Northam, Spencers Brook and Irishtown are among those who have more than $5 million in lost and unclaimed superannuation, according to the Australian Taxation Office.

As of June 30 there are 251 lost super accounts in the postcode of 6401 adding up to more than $4.7 million.

There are also 1159 unclaimed super accounts totalling more than $1 million.

ATO assistant commissioner Graham Whyte said the total amount of lost and unclaimed super was reduced by over $420 million in 2017-18 but there is still $17.5 billion waiting to be found.

“We’re determined to help people find their super and I’m pleased to say that in the past financial year more than $3 billion was consolidated into active super accounts across the country,” Mr Whyte said.

“Our data shows there are some large amounts still lost. For example, one New South Wales account has over $2.2 million waiting to be found.”

Mr Whyte said people often lose contact with their super funds when they change jobs, move house or simply forget to update their details.

“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.

“Our advice is to remain engaged with your super fund through all stages of your career, not just when you’re ready to retire.”

You can view all your super account details, including any that you have lost or forgotten, and consolidate your accounts any time by linking your myGov account to ATO online services.

For information on how to manage your super and view all your super accounts including lost and unclaimed super, visit ato.gov.au/checkyoursuper