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  • Super data: multiple accounts, lost and unclaimed super

    Superannuation helps you save for retirement. There were around 16 million Australians with super fund accounts at 30 June 2020.

    On this page:

    Trend towards single accounts

    Over the past four financial years, the number of people with multiple super fund accounts has continued to decline. At 30 June 2020, more than 12 million people (around 74% of the superannuation population) had one super account only.

    Super is your savings for retirement. It is important to know how much super you are getting, what accounts you have and any insurance attached to each account.

    Having multiple super accounts could mean you are paying unnecessary fees and charges. This can reduce your overall retirement income.

    You can find and manage your super using ATO online services through myGovExternal Link. Here you can see all your fund details, including any accounts you may have forgotten about. You can also transfer super from accounts you no longer use into your main super account.

    Before transferring your super, check with your fund to see if you will lose any valuable insurance. For more information, visit ASIC's MoneySmart websiteExternal Link.

    See also:

    Multiple super accounts held

    At 30 June 2020, over 12 million Australians had one super account, with around four million people holding two or more super accounts.

    Note: Figures are based on member data reported by funds to us for the year ending 30 June 2020. Percentages have been rounded to the nearest whole number. As a result, totals may not add up to 100%.

    Number of super accounts

    Percentage of accounts held by an individual

    Number of accounts

    Total individuals

    1 account

    74%

    2 accounts

    20%

    3 accounts

    5%

    4 or more accounts

    2%

    Individual account holders by gender

    Number of accounts

    Male

    Female

    Unknown

    1 account

    74%

    74%

    80%

    2 accounts

    20%

    20%

    16%

    3 accounts

    5%

    5%

    2%

    4 or more accounts

    2%

    2%

    1%

    Number of super accounts by age and gender

    Percentage of accounts held by age group (male)

    Age

    1 account

    2 accounts

    3 or more accounts

    18 and under

    88%

    11%

    1%

    19 to 25

    73%

    21%

    6%

    26 to 30

    74%

    20%

    6%

    31 to 35

    76%

    18%

    6%

    36 to 40

    74%

    19%

    6%

    41 to 45

    72%

    20%

    7%

    46 to 50

    70%

    21%

    8%

    51 to 55

    70%

    22%

    8%

    56 to 60

    70%

    22%

    8%

    61 to 65

    73%

    21%

    6%

    66 or over

    84%

    13%

    3%

    Percentage of accounts held by age group (Female)

    Age

    1 account

    2 accounts

    3 or more accounts

    18 and under

    88%

    11%

    1%

    19 to 25

    73%

    21%

    6%

    26 to 30

    76%

    19%

    5%

    31 to 35

    76%

    18%

    5%

    36 to 40

    74%

    20%

    7%

    41 to 45

    71%

    21%

    8%

    46 to 50

    69%

    22%

    9%

    51 to 55

    69%

    22%

    8%

    56 to 60

    72%

    21%

    7%

    61 to 65

    76%

    19%

    5%

    66 or over

    85%

    12%

    2%

    Number of super accounts by region

    Percentage of accounts held by state or territory

    State/territory

    1 account

    2 accounts

    3 or more accounts

    ACT

    69%

    23%

    7%

    NSW

    75%

    19%

    6%

    NT

    69%

    22%

    10%

    QLD

    69%

    21%

    9%

    SA

    73%

    21%

    6%

    TAS

    76%

    19%

    5%

    VIC

    76%

    19%

    5%

    WA

    73%

    20%

    7%

    Unknown

    85%

    12%

    3%

    Note: Unknown refers to invalid and overseas addresses.

    Number of super accounts held by individuals, 2017 to 2020

    Number of super accounts

    2017

    2018

    2019

    2020

    1

    61%

    64%

    65%

    74%

    2

    24%

    23%

    23%

    20%

    3

    10%

    8%

    7%

    5%

    4 or more accounts

    5%

    5%

    4%

    2%

    Individuals with 1 or 2 super accounts

    85%

    87%

    88%

    94%

    Individuals with 3 or more super accounts

    15%

    13%

    11%

    7%

    Account consolidations

    You can use ATO online services through myGovExternal Link to keep track of your super and consolidate accounts, including ATO-held super, into your preferred super fund.

    Over the past three years, the number of accounts consolidated using ATO online services has continued to increase.

    Accounts consolidated by individuals using ATO online services

    Year

    No. of accounts consolidated

    Value ($ billion)

    2020

    663,000

    $6.9

    2019

    538,000

    $4.4

    2018

    532,000

    $3.2

    2017

    548,000

    $2.9

    Note: accounts have been rounded to the nearest 1,000. Values have been rounded to $100 million.

    Lost and ATO-held super

    Lost superannuation is super money held by super funds where the member is either:

    • uncontactable – the fund has lost contact with the member and the account hasn’t received a contribution or rollover for 12 months
    • inactive – an account hasn’t received a contribution or rollover in five years.

    ATO-held super refers to super money we hold for you. This includes amounts paid by employers, super funds, retirement savings accounts (RSA) or the government on your behalf.

    Generally, super money will be transferred to us from super providers for any of the following:

    • unclaimed super for members who are 65 years or older, non-member spouses and deceased members
    • small lost member accounts and insoluble lost member accounts
    • inactive low-balance accounts
    • super for temporary residents who have left Australia for six months or more and their visa has expired or been cancelled.

    You can consolidate your lost or ATO-held super using ATO online services in myGovExternal Link.

    See also:

    Account numbers

    Number of super accounts for both lost and ATO-held categories

    Category

    2017

    2018

    2019

    2020

    Fund held: lost uncontactable

    257,000

    257,000

    188,000

    241,000

    Fund held: lost inactive

    372,000

    323,000

    486,000

    193,000

    ATO-held: unclaimed (general, small and insoluble)

    4,599,000

    4,571,000

    4,273,000

    3,452,000

    ATO-held: inactive low balance accounts

    n/a

    n/a

    n/a

    997,000

    ATO-held: unclaimed (temporary resident)

    786,000

    790,000

    797,000

    811,000

    ATO-held: superannuation holding accounts (SHA) active

    238,000

    273,000

    200,000

    184,000

    ATO-held: superannuation holding accounts (SHA) inactive (consolidated revenue)

    66,000

    66,000

    124,000

    142,000

    Total

    6,318,000

    6,280,000

    6,068,000

    6,020,000

    Notes: In 2019, funds transitioned from annual reporting to event-based reporting. As a result, direct comparisons between 2019 and previous years may not be practicable.

    The reduction of lost inactive accounts in 2020 may be due to inactive low balance accounts now being reported and paid to us under the protecting your super (PYS) package.

    Figures have been rounded to the nearest whole number.

    Account values

    Value of super accounts for both lost and ATO-held categories

    Category

    2017

    2018

    2019

    2020

    Fund held: lost uncontactable

    $5b

    $5.2b

    $3.8b

    $4.8b

    Fund held: lost inactive

    $9.1b

    $8.2b

    $12.7b

    $5.5b

    ATO-held: unclaimed (general, small and insoluble)

    $3.2b

    $3.3b

    $3.3b

    $2.1b

    ATO-held: inactive low balance accounts

    n/a

    n/a

    n/a

    $751m

    ATO-held: unclaimed (temporary resident)

    $590m

    $595m

    $607m

    $630m

    ATO-held: superannuation holding accounts (SHA) active

    $93m

    $105m

    $83m

    $75m

    ATO-held: superannuation holding accounts (SHA) inactive (consolidated revenue)

    $13m

    $13m

    $29m

    $38m

    Total

    $17.9b

    $17.5b

    $20.5b

    $13.9b

    Notes: In 2019, funds transitioned from annual reporting to event-based reporting. As a result, direct comparisons between 2019 and previous years may not be practicable.

    The reduction of lost inactive accounts in 2020 may be due to inactive low balance accounts now being reported and paid to us under the PYS package.

    Figures have been rounded to the nearest whole number.

      Last modified: 18 Mar 2021QC 37783