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Lost $7 billion finding its owners

More than $4.7 million worth of superannuation has been recovered since Assistant Treasurer Senator Helen Coonan launched the Unclaimed Super Recovery Initiative just over a week ago.

“A dedicated website has recorded over 420,000 hits, while a special hotline set up to help people find unclaimed superannuation has already received 58,000 calls,” she said.

The initiative, a joint effort between the Australian Taxation Office and the superannuation industry, hopes to reunite as many people as possible with almost $7 billion in unclaimed super. Most operations have involved information booths set up at major shopping centres for a few days last month.

One in every three working Australians has “lost” super accounts with an average balance of $1600. Start looking at www.unclaimedsuper.com.au. After all, the purse is better than the Melbourne Cup.