Aussies urged to check for lost retirement savings with $21 billion waiting to be collected: ATO

August 18, 2026 - 12:35

The Australian Taxation Office has revealed that a staggering $21 billion in lost and unclaimed superannuation is sitting in accounts, waiting for its rightful owners to step forward. According to new data, the average amount owed to each person is around $41,000, a figure that could make a serious difference to someone's retirement plans.

The ATO is now urging Australians to take a few minutes to check whether they have any missing retirement savings, especially those who have changed jobs, moved houses, or worked multiple roles over the years. Super accounts can easily become lost when employers use different funds, or when old accounts are forgotten after a change in personal details.

Many people are unaware that they may have multiple super accounts, with fees and insurance premiums slowly eating away at the balances. The ATO's online services make it simple to search for lost super using a myGov account, and the process takes less than five minutes. Once found, the funds can be consolidated into an existing active super fund, or transferred to a new one.

The warning comes as part of a broader push to help Australians take control of their financial future. With the cost of living putting pressure on household budgets, the ATO says that recovering lost super is one of the easiest ways to boost long-term savings without any extra effort. For those who have changed their name or contact details, the search may take a little longer, but the potential reward is well worth the time.

The ATO also reminds people to be wary of scams that offer to find lost super for a fee. The official search service is free, and anyone can access it directly through their myGov account. With billions still unclaimed, now is the time to check and see if some of that money belongs to you.