No more 'lost' super, says minister : "Senator Sherry says he will be consulting with the super industry early this year to discuss a plan to track down lost accounts using tax file numbers and automatically roll them over into current accounts."
How simple and sensible would that be? It has been very hard on people who have to change jobs to keep track of Super because often they are diverted into the job hunt, interviews, then getting themselves settled. Some jobs don't last long and some people do more than one job. Quite a few people seem to like the plug and play lifestyle whereas others prefer to stick with one job if they can get it. It has been very hard though when you have to keep track of your super and then get it into the current fund. It means a lot of money has been accruing unclaimed...and I guess the line would have been ...well, if they didn't want it , bad luck. It's been unfair. The tax file number is the obvious link to use and since we have databases and technology...how modern is this suggestion!
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