Superannuation Advice

Let it be known to you that the Australian superannuation industry is one of the country's impressive growth sectors - currently valued at approximately $530 billion. Thus it remains heavily regulated -- such as the recent Federal Government reform regulating financial services and the anticipated introduction of Choice of Funds.




Small Accounts

As per industry observation, many Australians now have superannuation for the first time, especially part-time, casual and seasonal workers. Naturally, these balances start out as small accounts.

Lost Members

You may be a lost member of a superannuation fund if:

your superannuation fund has been unable to contact you-the superannuation fund may not have been advised of your address or mail sent to your last known address has been returned unclaimed, or

Lost Superannuation

Maybe you have taken advantage of new Australian superannuation regulations which allow you to choose your super fund, be it an industry or commercial fund. But you have worked for a number of different employers in the past, and have lost track of your super.

Unclaimed Monies

Superannuation becomes unclaimed money if: the recipient has reached the eligibility age of 65 years for both male and female; is eligible for some benefit (other than a pension) that is payable immediately from the fund; has left the account inactive for a period of at least two years; or, when the fund's trustee cannot contact the recipient.

More Advice Resources

The Australian Securities and Investments Commission (ASIC) is the government agency that enforces and regulates company and financial services laws. The Australian Taxation Office (ATO) is the Commonwealth Government's main revenue collector, and the statutory authority responsible for the administration of Australia's taxation system.