3 practical ways to trace super funds you’ve lost track of

Category: News & United Kingdom

If you’re an Australian living in the UK, or if you’re a Brit who has previously worked in Australia, it’s likely that you’ve got money in one or more super funds.

It’s been estimated that the average Australian will have 13 different jobs in their working life. That’s potentially 13 different super funds to keep track of.

As you approach retirement, or even if you’re just doing some financial housekeeping, it’s good to keep track of all your super funds. Checking the value at least annually is prudent. This gives you the chance to see how your investments are performing in line with your expectations.

But do you have all the details of all your super funds?

You may well be wondering how to trace details of your funds. Read on for three tips to find any funds you’ve lost track of. You also might want to see this as a prompt to make sure your records are up to date.

1. On the Australian Tax Office website

If you haven’t already got one, it’s well worth setting up a “myGov” online account.

It provides you with convenient and secure access to most of the Australian government agency sites and can help make your interactions quick and straightforward.

Once you’ve logged on to the Australian Tax Office (ATO) site, just click on “Manage my super” and you should be able to trace all your fund administrator details there.

2. Via the DASP site

This is really only applicable to Brits who worked in Australia for a short period and may have paid into a super fund while working there.

Subject to your eligibility, you may well be entitled to a “Departing Australia Superannuation Payment” (DASP).

Using the DASP online application system, you’ll be able to check the eligibility requirements. You then provide your Tax File Number (TFN), find your super details and request a payment, if applicable.

3. Using the “lost super search line”

In 2019, the Australia government recognised the difficulty many people were having tracing details of their super funds. So, they set up a “lost super search line” for people to use to help find their funds.

Use the lost super search line on +61 2 6216 111 (from outside Australia) between 8am and 5pm Monday to Friday (Australian Eastern Standard Time or Eastern Daylight-saving Time).

Around the same time as setting up the search line, they mandated that super providers be required to pay inactive low-balance super accounts to the ATO. This provides a central point for all inactive funds, making them easier to trace.

You’ll need to provide as much detail as possible when calling the search line number. This will include:

  • Your personal details, including TFN and your visa details (if applicable)
  • Up-to-date contact details, including your address, phone number and email
  • Details of your super funds, including the fund name and when you were an active member
  • Your previous details, such as previous addresses and employment information.

Get in touch

Once you’ve traced your super funds, you’ll need to decide what you want to do with the various accumulated funds.

We have a wealth of experience advising clients in both the UK and Australia as to how to build and manage their retirement fund.

Get in touch to find out how we can help you.