Keep Track of Your Super. You Could Be Richer Than You Think

With today’s mobile workforce, keeping track of your superannuation can be difficult, and you might be unaware of valuable Total and Permanent Disability (TPD) insurance hidden in lost or old super accounts. PK Simpson can help you find and claim these entitlements.

Like many thousands of Australians, you may have lost, inactive, or even multiple superannuation accounts where you still hold insurance cover and an account balance.

If you have changed your personal details, moved jobs, switched careers, or relocated to another state or country, it is more than likely you have multiple superannuation accounts.

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PK Simpson is a personal injury law firm that charges on a No Win — No Fee basis. Unlike many competitors, we don’t cherry-pick cases — our lawyers will represent anyone with a viable TPD claim.

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Keeping Track of Your Super – TPD, Fees, Benefits & More

Your super account is extremely important as it is a form of savings you can access when you retire. Super funds can also include insurance cover such as income protection or TPD, which you may claim if you cannot work due to injury or illness.

Multiple accounts can be difficult to track and may reduce your balance due to ongoing account fees. Locating and consolidating accounts can save time and money while maximising your future savings.

Before consolidating, you should confirm whether any insurance cover or benefits will be lost and decide which super fund best suits your needs.

What Is Lost Super and Unclaimed Super?

Lost super generally occurs when a fund cannot contact you for 12 months or more, when no contributions have been made for five years, or when insufficient personal information exists to link you to an account.

Unclaimed super differs in that the fund holds money payable to you but has been unable to contact you. This can include members over 65, deceased members, or former temporary residents.

The ATO website provides up-to-date guidance on managing and merging superannuation accounts.

How to Find Out How Much Super You Have

In July 2019, new legislation was introduced to help reunite Australians with their lost super.
Low-balance and inactive accounts are now transferred to the ATO.

You can claim lost super via MyGov, directly through the ATO, or by calling 13 28 65. A solicitor or accountant can also assist you.

At PK Simpson, we take the stress out of the process. Call us on 1300 757 467.

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You’re in safe hands with PK Simpson lawyers. We can help you retrieve the lost super and TPD entitlements you deserve.

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How to Deal With Lost Super Accounts and TPD Claims

Super funds can be complex and difficult to deal with. PK Simpson can conduct a lost super search on your behalf, investigate insurance cover periods, and determine whether you are eligible to make a claim.

You may have multiple TPD or income protection claims that result in lump sum back payments. Our team ensures you receive the maximum benefits available.

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We’re committed to keeping our clients fully informed. PK Simpson is the only superannuation law firm with a dedicated client services department focused solely on client satisfaction.

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How Do I Claim TPD on Lost Superannuation?

Making a TPD claim can be legally complex. Policy definitions, exclusions, and interactions between multiple funds require careful legal consideration.

Lost Super and Tax Payouts

TPD lump sum payouts resulting from accidents or compensation claims are generally not taxable and do not need to be declared as income.

However, interest earned on recovered super or compensation payouts may be taxable.

How PK Simpson Can Help

Our specialist compensation lawyers can help you locate lost super, consolidate accounts, and claim TPD compensation if you are eligible.

We also assist with:

• TPD super withdrawals
• TPD super payment tax
• Super TPD tax calculations