Explains when super may become unclaimed and how you can find it.
Member aged 65 years or older
An amount payable to a member of a superannuation (super) fund is taken to be unclaimed super if it meets all these criteria:
- the member has reached the eligibility age (65 years, or older if so prescribed by the super fund’s governing rules)
- the super fund has not received an amount for the member (and in the case of a defined benefit super scheme, no benefit has accrued for the member) in the last two years
- after a period of five years since the super fund last had contact with the member, the super fund has been unable to contact the member again, after making reasonable efforts.
Under the family law legislation, if a person has a super interest as a member in a super fund and an agreement or court order requires the person to split their super interest to their non-member spouse, it is referred to as a payment split.
Under the unclaimed super money legislation, an amount payable to a non-member spouse is taken to be unclaimed super if all these criteria apply:
- there is a payment split under the family law legislation
- as a result of the payment split, the non-member spouse (or their legal personal representative if they have died) is entitled to be paid an amount
- after making reasonable efforts and after a reasonable period has passed, the super fund concerned is unable to ensure that the non-member spouse or their legal personal representative will receive the amount.
- the member has died
- the super fund determines that, under the governing rules of the fund or by operation of law, a benefit (other than a pension or annuity) is immediately payable for the member
- the super fund has not received an amount for the member (and, for a defined benefit super scheme, no benefit has accrued for the member) within the last two years
- after making reasonable efforts and after a reasonable period has passed, the super fund is unable to ensure that the benefit is received by the person who is entitled to receive the benefit.
From 27 March 2009, the Commissioner will treat a super guarantee shortfall for former temporary resident as if it has been paid to the Commissioner as unclaimed super by a super fund.