Superannuation is quickly becoming the most important way to save for retirement. It will probably become the main source of retirement income for most of us; so keeping a track of it is vital. Unfortunately, many of us have little idea of how much and even where our superannuation is. If this is you (or me), it’s time to do a super audit!
How to find out how much superannuation I have – where to start
Ok, so I’ve admitted to myself I have lost total track of my superannuation. I know that because I
- Am between 18 and 70 years of age
- have been payed $450(before tax) or more in a calendar month
- work full time, part time or on a casual basis
I should have some superannuation accumulated. So, now I’m wondering how to find out how much superannuation I have. The first thing I need to do is work out where my super is. Superannuation funds send their members benefit statements every 12 months. So, I need to drag these out the bottom draw and take a look. If I don’t have the latest statement, I’ll contact my fund and ask for one. This is one step in how to find out how much superannuation I have.
How to find out how much superannuation I have – lost super
Now I’ve had quite a few jobs over the years. Maybe there’s some super I’ve lost a track of. Locating that lost super is a really important step in knowing how to find out how much super I have. The Australian Taxation Office has a SuperSeeker tool to help me and anyone else wanting to find their lost super. All I will need is my name, date of birth and my tax file number to identify any super I’ve forgotten about and I will be closer to knowing how to find out how much superannuation I have.
How to find out how much superannuation I have – now what?
So I’ve located all my accounts and I’ve tallied it up. Wow, quite an impressive sum! I’m certainly glad I now know how to find out how much superannuation I have.