This step-by-step guide will help you take a valuable step towards getting on top of your super.
You need to regularly check how much super you have as it’s your money and it should be working hard for you.
When you’ve completed this step-by-step guide, you’ll have a much better idea of where you are with your super. You should also feel confident you’re more in control of this important financial asset.
Keeping track of your super
Check your employer is making contributions for you
Check whether your employer is making regular super contributions for you by reviewing some recent payslips.Employers are required to make SG payments for employees at least four times a year (by 28 January, 28 April, 28 July and 28 October).
What to do if your employer isn’t making contributions
- If you find your employer isn’t paying the correct amount of super – or not paying at all – the first step is to talk to your employer or payroll person. Ask how often they are paying your super contributions and into which fund the money is being contributed.
Contact your super fund to confirm whether your employer has made contributions on your behalf.If your employer isn’t contributing, ask your super fund to follow up with your employer.
- Contact the ATO on 13 10 20 or use the ATO’s Report unpaid super contributions from my employer online tool if you still believe your employer is not paying your entitlements.
Ensure you’re receiving the right amount of super
- Work out how much Superannuation Guarantee (SG) your employer should be paying regularly into your super based on your current before-tax salary.
The SG rate for 2022-23 is 10.5%, but this is due to increase by 0.5% each year until it reaches 12% from 1 July 2025.
- Check how much your employer should be contributing if you have a salary-sacrifice agreement in place.
- Pull out your annual statement from the super file you set up in step-by-step guide 1 (or log in to your online account) and identify how much super each of your employers is paying into your super account each month or quarter.
Compare these contributions with the amounts you’ve worked out for your SG entitlements and salary-sacrifice arrangement.If these contribution amounts aren’t correct, go through the action steps in section 2.
Check the ATO’s super information is up to date
The ATO holds lots of information about you and your super, so using its online records can be an easy way to manage your super. This information is accessible through your myGov account.
- Log in or create a new myGov account.
- Link your myGov account to the ATO.
- Review the information the ATO has listed about you and your super fund and ensure it is current.
- Update your name, address or current employer if necessary. Otherwise you could lose track of some of your super entitlements.
Find out if you have multiple super accounts
Many people have multiple super accounts – often ones they’ve forgotten about – so it’s worth doing a little investigating to find them.
- Log in to your myGov account and go the ATO section.
- Check the records held by the ATO as these will list all your super funds – both active and inactive.
- Note down the account balances listed for each fund so you can check whether you want to keep all your super funds or whether you want to consolidate some of them.
- Check the employer contributions listed by the ATO (SG, salary-sacrifice amounts, voluntary employer and award contributions).
Check for lost or unclaimed super
If you’ve moved, changed jobs or simply forgotten about a super fund, you may have super contributions that have become lost. Ensure you are getting the most from your savings by transferring any lost super to one of your active super funds.
- Log in to your myGov account and go to the ATO section.
- Select ‘Super’ then ‘Manage’ then ‘Transfer super’.
- Select the lost super and select which fund to transfer it to.
If you don’t have access to online services, you can find lost super by phoning the ATO on 13 28 65 or by completing a paper form.
Consider whether to consolidate multiple super funds
Multiple super account cost you more in fees and reduce your retirement savings, so think about whether it’s smart to roll them into a single account.
- Check you won’t be charged an exit fee if you move your super savings.
- Investigate if you will lose valuable insurance cover if you close an account.
- Decide which super fund will be your main account.
- Log in to your myGov account and use the ATO tools to transfer your money to your main account.
The next task is reviewing your super. When you’re ready to take the next step, click on the button below.