Find Your Superannuation Video Series Part 3

We have created a series of three videos to help you locate your superannuation online, using a set of tools that have recently become available online from the Australian government and Taxation Office.

View Part 1 and Part 2 of the series.

Hi. This is Greg Major from Blueprint Wealth.

Welcome to the last in a series of three videos that we’ve put together to help you locate your superannuation online using a set of tools that have recently become available from the Australian Government and from the tax office.

Okay, we’ve successfully linked to the ATO and now, we get to the interesting part. We are good to go now and finally check out what we have got in terms of our superannuation. We’re in here at the services page and you can see now that we’ve got our services linked here, Australian Tax Office, linked and the date that it was linked. We haven’t yet gone through and linked these other things but you could do that if you wanted to, and we’re all ready to go through to the ATO.

We can easily get there by clicking on this link here that says Australian Tax Office. Click the link, give it a second while it waits and here we are, we’re over at the Australian Tax Office website now and we are ready to go.

We’ve got a bunch of things we can do over here in the ATO website. We can actually lodge your tax return here using My Tax and a bunch of other things. You can check and pay your tax if you’re so inclined to do it that way, but the thing that we are after here is checking super account balances.

Now, there’s also a function here to consolidate your super. That’s not something we’re going to go into today because we would recommend before you go and just consolidate you always speak to your advisor, come and talk to us at Blueprint Wealth. Consolidating super can be a good way to save fees, but before you go and do it, you want to always check about insurances that you might have attached to some of those accounts that may be valuable and once you consolidate, you could lose those insurances, so always talk to an advisor before you go and consolidate your super accounts. Sometimes, you may be better off not consolidating, so we will urge you to seek advice before consolidating any of your superannuation.

Today, let’s just have a look at checking your super account. Merely click on that link and it will then go away and look at all of your super accounts. Now, I actually havr self-managed super so that is not showing up in here, but for all of your industry in retail, it will show up here. Now, I’m not a great example because it’s just got one Colonial First State here with a zero balance, but I’ve seen clients in here that might have three, four, five, six or more different super accounts, some of which they didn’t know about.

We had a client recently that discovered $70,000 worth of superannuation they didn’t know about in here. You’ll find, as you go into this, a listing of all your super accounts, known and unknown, and use this little plus symbol here on the left to drill into it a little bit more. That will give you the detail of not just the balance but also whether there’s been any recent contributions, and importantly, whether there is insurance attached to that or not.

That’s a really good starting point to find out a lot more about what super accounts you have available.

All right, so that’s all there is from us today. That was a pretty interesting way of finding out a lot more about what super you’ve got. If you’ve got any more questions, please give us a call at Blueprint Wealth, 9423 0300. Check us out on the web at bpwealth.com.au or give us an email,help@bpwealth.com.au. My name’s Greg Major and it’s been a pleasure showing you through the navigation of the myGov website and we look forward to seeing you soon.

If you have any questions about your superannuation or would like to review your personal financial plan, please contact us to receive a complimentary initial consultation.