Page 4267 - Week 10 - Wednesday, 21 September 2011

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across several accounts people may end up paying excess fees or having money invested in the wrong assets. Many people never claim their lost superannuation money, so in retirement they may not enjoy the standard of living that is rightfully theirs.

Together with the federal member for Fraser, Andrew Leigh, I have been visiting shopping centres in the suburbs in my electorate with the highest amounts of unclaimed super, such as Charnwood and Kippax. We have voiced a campaign to let Canberrans know about the ATO SuperSeeker website. This website helps people find their lost and unclaimed super and transfer it into one account. This service is free and a phone service is also available 24 hours a day.

At the campaign launch we chatted to a part-time actor who had recently found $6,000 in lost super from a previous job. In Kippax on Saturday we met Kevin, who had read about our campaign in the Northside Chronicle and had come looking for us. Kevin logged on to our laptop and found lost superannuation from a job he had had as a panel beater in the mid-1980s. The employer had died and Kevin had not known which super fund the money was in. Thanks to the SuperSeeker website he will be able to be reunited with his retirement savings from a quarter of a century ago.

Nowadays most people have several jobs during their working lifetimes and may have several part-time jobs at once. It is easy to lose track of super, but there are great benefits in consolidating all super accounts into one. At a time when many Canberrans are planning for their retirement, having one super account is the most effective way of managing their money. Fees are reduced and a coherent investment strategy can be planned.

I also want to mention a new initiative for small businesses with less than 20 employees. The commonwealth Department of Human Services has established the small business superannuation clearing house. This free service enables a small business to meet its super guarantee obligations with one electronic payment. As someone who ran a small business in Canberra for more than 17 years, I welcome this initiative and congratulate the commonwealth on its innovative thinking. Time and paperwork previously involved when making multiple payments will be eliminated. This clearing house will seek to reduce the burden of compliance for small business.

As many Canberrans are ageing and looking to access their super, Andrew Leigh and I are showing them just how easy it is to consolidate their accounts. All they need is their tax file number and date of birth. The ATO’s SuperSeeker tool will do the rest.


Woden Valley girls under-14 soccer team

Woden Valley Football Club

MR DOSZPOT (Brindabella) (8.51): I rise tonight to bring to the attention of the Assembly the inaugural Ride4Epilepsy event on this Sunday, 25 September, at Sandown raceway. The ride is a free cycling event for riders of all ages and abilities, to raise awareness and funds for the Epilepsy Australia Foundation.

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