ATO pushes SuperSeeker campaign
The Australian Taxation Office (ATO) has renewed its campaign aimed at reuniting people with their lost superannuation accounts.
The ATO has announced that it intends mailing 500,000 letters before the end of the financial year to people on the lost members register urging them to make contact with their superannuation fund.
The Tax Office said super funds could expect to receive more calls as a result of the mail-out as people become more aware of the methods they can use to track their lost super.
In line with the mail-out, the ATO said it was reminding superannuation funds, approved deposit funds, eligible roll-over funds and providers of retirement savings accounts to report details of lost, found and transferred members.
At the same time as undertaking the mass mail-out the ATO has initiated a phone service as part of its SuperSeeker service.
It said the service would be available 24 hours a day, seven days a week with the search conducted using a person’s tax file number and date of birth.
In 2003 the amount of super assets that were unaccounted for stood at $6.6 billion, and the ATO through campaigns such as SuperSeeker, has been working towards finding owners for the nation’s lost super.
AUTHOR
Craig Phillips
Recommended for you
ASIC has cancelled the AFSL of a Gold Coast advice firm, its tenth AFSL cancellation since the start of the year with the majority being advice firms.
Career changers, such as accountants and teachers, are a valuable demographic for potential advisers as industry commentators say adviser numbers are “not touching the sides” of consumer demand.
Financial advisers and wealth managers need to exceed their clients’ desires for personalisation, a new EY report writes, and the requirements for this will vary between client segments.
Betashares chief executive, Alex Vynokur, believes technology advancements will enable banks to return to financial advice in the future as the need for advice is greater than ever.
