Consolidate your super

If you have more than one super account, you could be paying more in fees than you need to.

According to the Australian Tax Office, approximately 40% of Australian workers have more than one super account1.

By consolidating all your super in your LGIAsuper account, you could save thousands of dollars in fees over your working life – with that money making a big difference to your retirement payout.

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Find lost super

According to the Australian Taxation Office, as at 30 June 2017 there was nearly $18 billion1 in lost or unclaimed superannuation looking for a home.

There’s a difference between lost super and unclaimed super.

Unclaimed super

If you’ve got money in super that can be withdrawn but your fund can’t locate you, that’s referred to as unclaimed super.

Lost super

Where you’ve got money in super and your super fund loses contact with you – perhaps you’ve changed address – the fund will report you to the ATO as a lost member.

1. Source: Australian Tax Office, September 2017.