Australians are being urged to double-check their tax accounts to ensure their money isn't in a growing, $16 billion pot of lost or unclaimed superannuation.
The Australian Taxation Office says lost or unclaimed super funds have risen by $2.1 billion since last financial year, taking the total to $16 billion.
Lost super is money held by funds when a member is uncontactable or inactive. Unclaimed super is money sent to the ATO from inactive low-balance accounts for people 65 years or older, or temporary residents who have left Australia for six months or more and their visa has expired or been cancelled.
