The benefits of lost or inactive members are protected by:
Who is a lost member?
Members are considered lost if:
See Superannuation Industry (Supervision) Regulations 1999 (Cth) reg 1.03A
Who is an inactive member?
Members are considered inactive if:
See Superannuation Industry (Supervision) Regulations 1999 (Cth) reg 1.03A
What protection is available?
The full account balance of lost members must be protected whether the account balance exceeds $1000 or not. Protection begins 90 days after a member is determined to be lost.
Paying the benefits into a rollover fund
A fund trustee may choose to roll a lost member’s benefits into an eligible rollover fund rather than maintain the accounts.
Reporting lost members to the Tax Office
Superannuation funds (including eligible rollover funds) must report lost members to the Commissioner for Taxation and provide details, including the members’ withdrawal benefits, every six months.
Finding lost superannuation
The Australian Tax Office maintains a register of lost members with a view to re-uniting people with their superannuation benefits. Members of the public can see some details from the register on the Australian Tax Office’s website free of charge. People can log into or register for a MyGov account to see whether any of the lost or unclaimed super in the register is theirs.
We embrace diversity and welcome all people, irrespective of culture, faith, sexual orientation and gender identity.
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Legal Services acknowledges Aboriginal people as the Traditional Owners and ongoing occupants of the lands and waters in South Australia and we respect their spiritual, cultural and heritage beliefs. We recognise their continuing connection to land, water and community and pay our deep respect to Elders past and present.
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