New legislation means the Western Australian public sector superannuation funds will see its lost and unclaimed money moved to the Australian Taxation Office (ATO).
This means funds like GESB, which was formerly immune from the rules, will feel the impact.
RSM Bird Cameron Financial Services financial adviser Robert Zammit said West Australians could feel the pinch of the new legislation as once they close a GESB West State account they cannot re-open it.
"West State is a unique super scheme, which can provide substantial retirement planning opportunities owing to its status as a constitutionally protected fund," he said.
"Although individuals may believe their accounts are small and insignificant they may also have life and disability insurance cover within their accounts. This cover may be lost and irreplaceable once the account is closed."
GESB said it will have to close accounts and transfer balances if a member is uncontactable (no address and two pieces of mail returned to GESB as undeliverable) or inactive (member's account has not received any contribution for five years).
GESB will try to contact members over the coming weeks, and members will need to choose to be excluded from any transfers before 27 February.