If you have small 'lost' superannuation account balances, it's important to be aware of changes to the handling of these accounts.
Many people don't realise it, but their 'lost' super accounts could be worth a whole lot more than just the account balance...there could be some very valuable insurance benefits linked to the account. If the accounts are transferred to the ATO, those insurance benefits will be cancelled.
For anyone who has a history of medical issues (it could be a dodgy back, or any other health-related concerns), it could be difficult to arrange replacement insurance cover as the Underwriting assessment may turn out to be less-than-ideal.
So, it's REALLY IMPORTANT to consider where your super accounts are held, and whether they are at risk of being "lost".
Click on the links below to read more information...then contact your Financial Adviser or superfund IMMEDIATELY for advice.