Time to reorganise your sock drawer
Over 105,000 superannuation accounts representing $860 million were consolidated by Australians in the last quarter of 2018.
However, there is still over $17.5 billion in lost and unclaimed super.
Marie Kondo’s “Tidying up’ seems to be a hot topic at the moment, so before you spend too much time re-organising your sock drawer and kitchen cupboards
this summer, take a few minutes to tidy up your superannuation.
While there won’t be any insurance in your lost super account, before you go and consolidate all of your super make sure that you don’t lose your current
insurance in any other super account by consolidating without being aware of the consequences.
It is a good idea to talk to your financial planner to organise the best place for your super that is tailored specifically to you.