Find my super: Why it's important to recover lost super

This is sponsored content for Australian super finder.

A superannuation account, also known as super, is where Australians keep their savings for when they retire.

The Australian government designed the superannuation program to encourage people to depend less on age pension and acquire for themselves an income stream through their super after they retire.

Super funds can be made up from contributions paid by the employer of an account holder, which is usually a percentage of the latter's salary, as well as personal contributions or from the government.

This is why it is important to find lost super.

The term "lost super" doesn't necessarily mean that it cannot be found.

There are ways to find lost super accounts, and many people have attested to this, as evidenced by this video:

Super is considered lost under two conditions: first is when there were zero contributions made to the account in the last 12 months.

Second, if mail has been sent to an account holder and has been returned unclaimed, or if the super account doesn't have an address.

Checking online by typing in the keywords 'find my super' can yield various results regarding ways on how an account holder can locate their lost super, further proving that it is important for every Australian to find their super at the soonest possible time.

There are several reasons why it's important to be always on the top of finding one's super even if their retirement is still a couple of decades away.

Some of these reasons include the following:

As previously mentioned, a super account is for the express purpose of having savings during retirement.

With super, one no longer has to rely on Age Pension for funds, enabling them to be financially stable as they grow through their golden years.

Through super, they may also be able to adequately support those who may still be dependent on them.

Those who are eligible for Age Pension comprise of Australians aged 65 years or older.

However, the amount that one can receive may not always be sufficient to support one's lifestyle or current financial obligations.

With super, one can supplement their Age Pension and have more than enough funds to enjoy one's retirement.

This may open opportunities for retired Australians to travel or even take up new hobbies should they wish.

Recovering one's lost super can also allow them to consolidate it into a single fund.

By consolidating multiple super accounts into one, tracking can be easier. This can also save one on costs as the account holder will only be paying for one set of fees, not to mention they will have less paperwork to deal with.

Consolidating multiple super accounts into one may require some time, but it is not impossible.

Ample research and checking on the part of the account holder is needed so that they can properly check on the details and requirements that they may need in order to consolidate their super accounts.

It stands to reason that super is a beneficial long-term investment for many Australians as it allows them to keep their financial stability even after retirement.

One cannot predict how long one's retirement may last. Moreover, one cannot also predict how much finances one would need to last the duration of their retirement.

It is highly probable that one's main source of income after retirement will be gone or diminished, which is why it is important to secure an income stream through one's golden years.

This is why finding one's super becomes a matter of great importance.

It's common for many Australians to lose their super.

Those who frequently change their jobs or move to another city can easily lose track of their super accounts and where their money is placed.

Not being able to find one's super immediately and failing to consolidate multiple accounts into one will likely have a huge impact on one's retirement funds.

Moreover, having multiple accounts can result in paying a various sets of fees and an abundance of paperwork to deal with.

However, finding lost super is not an impossible endeavour as one can always ask for the help of the Australian government or find numerous legitimate services online that can aid in recovering lost super accounts.

This is sponsored content for Australian super finder.