Key points
- Super accounts are reported against your tax file number, so myGov shows all of them in one place.
- An account with a balance under $6,000 and no contributions for 16 months is treated as inactive low-balance and transferred to the ATO.
- The ATO pays interest on amounts it holds, but the money is not invested in markets while it sits there.
- Consolidating can cancel insurance attached to the account you close, including cover you would not be underwritten for again.
- Searching for lost super through myGov is free.
Changing jobs used to mean a new super account almost every time. Stapling has slowed that down since 2021, but anyone who worked through the years before it will often have two or three accounts they’ve stopped thinking about. Each one is charging fees.
Finding them takes about ten minutes. What you do with them afterwards needs more thought.
Where lost super comes from
Super becomes “lost” or “unclaimed” in a few ordinary ways. A fund cannot reach you because you moved and didn’t update your address. An account sits with no contributions for long enough that the fund is required to hand it to the ATO. Or a small balance from a casual job simply gets forgotten.
The main categories:
- Inactive low-balance accounts. No contributions for 16 months and a balance under $6,000. The fund must transfer these to the ATO, which then tries to match them to your active account.
- Lost member accounts. The fund has lost contact with you, or the account has been inactive for five years.
- Unclaimed super. Money held for members over 65 who cannot be contacted, deceased members, or former temporary residents who have left Australia.
Money sitting with the ATO earns interest, but it isn’t invested in a growth option. Over several years that gap matters more than the fees you avoided.
Finding it through myGov
This is the only search you need, and it’s free.
- Sign in at my.gov.au and link the Australian Taxation Office service if you haven’t already.
- Select Super, then Fund details.
- You’ll see every account reported against your tax file number, with balances and the date each was last reported.
- Check Manage, then Transfer super, for any amounts the ATO is holding directly.
Balances shown are as at the last report from each fund, so they can be several months behind. Treat them as a guide rather than a live figure.
If you don’t have a myGov account, you can call the ATO’s lost super search line instead, or complete a paper searching for lost super form. You’ll need your tax file number either way.
Watch for paid “finder” services
Services that offer to track down your super for a percentage or a flat fee are querying the same ATO records you can see yourself in about ten minutes. Some also arrange a rollover as part of the process, which can quietly cancel insurance cover. There’s no information advantage being sold here.
Before you consolidate
Combining accounts is usually the right move. Duplicate administration fees and duplicate insurance premiums come out of your balance every year, and a single account is far easier to manage. Two things deserve a check first.
Insurance is the big one. Many super accounts include life, total and permanent disability, or income protection cover that was issued without health questions. Closing the account cancels it. If your health has changed since the cover started, or you work in an occupation insurers rate harshly, you may not be able to replace it on the same terms. Someone with a recent diagnosis can find that an old default policy is the only cover they will get.
Then check the account itself. Before closing anything, look at:
- Exit or withdrawal fees on the account you’re leaving
- Investment performance and fees across each fund, so you keep the better one rather than the newest one
- Employer arrangements, since some employers negotiate lower fees or better insurance terms for their default fund
- Defined benefit interests, which should almost never be rolled out. If one of your accounts is a defined benefit fund, get advice before touching it.
How to consolidate
Once you’ve decided which fund to keep, you can combine the others through myGov in the same Super section, using Transfer super. Choose the account you’re keeping as the destination and select the accounts to close. Transfers usually complete within a few working days.
You can also do it through your chosen fund’s own website, which is often the better route if you want to arrange replacement insurance in the receiving fund first. Set up the new cover, confirm it’s in force, then close the old account.
After consolidating, give your employer the details of the fund you kept so future contributions land in the right place.
Talk to us about your super
Finding the accounts is the easy part. Whether to consolidate them, which fund to keep, and what happens to the insurance attached to each is where the decision has consequences, particularly if you’re within a decade of retirement or hold cover you’d struggle to replace.
Our superannuation and retirement planning advisers review this as part of a broader look at where your retirement savings sit and how they’re invested. Book a free initial discussion if you’d like a second set of eyes before you combine anything.