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50pc Australians have missing super

by Staff Reporter8 minute read
The Adviser

Staff Reporter

Almost 50 per cent of Australians don’t know whether or not they have lost super, new research has revealed.

According to a Westpac report, there is $18.1 billion in lost super sitting in Australia’s backyard and two in every five Australians don’t know whether they have a stake in it.

The nationwide report also found that 47 per cent of Australians are likely to have lost super, proving that many people are still not on top of this aspect of their finances.

“Keeping in mind the mortgage broker market share in Australia currently represents well over 43 per cent of new consumer mortgages annually, this places mortgage brokers in the prime position to help customers find their lost super with Westpac,” the lender’s general manager for mortgage broker distribution, Tony MacRae, said.

“The Lost Super Day is a fantastic opportunity for brokers to speak to an expert from our partners at BT Financial Group around how they can easily identify lost super for their customers, either through the broker channel or our retail branch network.”

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