In Australia, there are an estimated 5.8 million super accounts worth approximately $18.8 billion dollars currently separated from their owners.
It can be challenging enough to fund retirement, without losing money that belongs to you along the way.
The Federal Government are doing their bit - they've recently introduced legislation to enable super funds to use Tax File Numbers to identify the owners of these lost souls, and are intending to introduce laws enabling consolidation of the various accounts by January 2012.
Kerrianne Hebinger
Financial Planning Essentials
w: www.finplans.com.au
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