Up for grabs: Mandurah tops state with $30.9m in lost super

Mandurah residents have more than $30 million missing in superannuation accounts. Photo: iStock.
Mandurah residents have more than $30 million missing in superannuation accounts. Photo: iStock.

Mandurah has topped the state in lost retirement savings, with the city posting more money in lost superannuation accounts than anywhere else in Western Australia.

According to Westpac there is a staggering $1.3 billion in lost super from across the state ready to be claimed.

Westpac said it could be easy to forget about old or inactive superannuation accounts and Western Australians should be getting back what is rightfully theirs.

“With billions sitting in lost super and lots of other super people may have forgotten about, it’s one of the biggest financial opportunities to better secure Western Australians’ retirement savings,” Westpac spokeswoman Hannah Oakhill said.

“There is lost super to be found in all suburbs and towns across the state, and it is so easy to find if any of it is yours.”

Western Australia’s lost super hot spots were:

  1. Mandurah ($30.9 million)
  2. Kardinya and Spearwood ($26.5 million)
  3. Success ($25.8 million)
  4. Wanneroo ($24.8 million)
  5. Joondalup ($24.6 million)

Ms Oakhill said there were many reasons why Western Australians may have inactive, missing or lost super.

“You are especially vulnerable to lost super if you have recently moved homes, changed jobs or married,” Ms Oakhill said.

Ms Oakhill said that despite high levels of lost and unclaimed super, the good news was that super is never really lost and is easy to recover.

“In fact we know from what our customers tell us that they put off searching for super because they think it will take a long time, but this isn’t actually the case. Super can be found in a few minutes,” she said.

Westpac recently launched SuperCheck to help its customers to find and sort all of their super easier and faster.

Recently Paul Wilson, 42, who works in infrastructure and is from Cloverdale, used SuperCheck and was reunited with $70,000 in super that he didn’t know about.

“It was a nice surprise to have found my own missing money,” he said.

Westpac SuperCheck is available to customers via online banking allowing you to search for all super accounts, consolidate them if you choose, and customise your insurance and investment options – in minutes. All in real time.

To find out more go to westpac.com.au/supercheck.