WA Super News

Sign up for our new roadshow and reunite your staff with $18 billion in lost super!

14/12/2018

Our Employer Relationship team have been rolling out a new Find and Combine roadshow to many of our employers.

This roadshow is aimed at reuniting our members, your staff, with any super they may have lost track of with great success for many members.

According to the Australian Taxation Office (ATO), Aussies have more than $18 billion¹ in lost super!

40%¹ of Aussies have more than one super fund and could be paying multiple sets of fees and insurance premiums.

40 of Australians

That means, with 3 accounts, they could be paying $13,500² in super admin fees over the next 25 years!! $13,500² that could be better invested back into their WA Super fund.

In the past month we have visited and had fantastic feedback from:

  • City of Canning
  • City of Swan
  • City of Joondalup
  • City of Wanneroo
  • Nolan Meats

The WA Super roadshow so far has reunited members at these workplaces with over $1.2 million in lost and other super!  This number continues to grow each day.  

What are we offering?

WA Super will visit your workplace at a time that is most convenient to you and your employees. We will undertake a Find and Combine search for any WA Super member, this only takes around 5 minutes. Your staff can help themselves to a cupcake and ask our experienced team any other questions they may have about their super.

Find and combine pop up booth2

How do I sign up my workplace? 

To get involved with this great initiative in 2019 and reunite your staff with their lost super, email us at education@wasuper.com.au.

Finally, we would like to thank the HR and payroll staff at the above councils and businesses that have helped us get this initiative off the ground!


Source: ¹ATO - Super Accounts Data Overview, at 30 June, 2017.

Assumptions: Calculated using the average ²MySuper product administration fees for a $50,000 balance of $180 p.a. This amount does not take into account investment fees and costs, investment earnings or inflation. Source: Chant West Super Fund Fee Survey for March 2018.

 

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