Vision Super recovers $5m in lost super
Vision Super has recovered $5 million in lost super earnings to members in the September quarter.
A total of 236 members were reunited with their super, while a further 85 had consolidated multiple accounts in the quarter. One member had consolidated five lost accounts amounting to $102,695.49.
Vision Super said members had become separated from their super if a fund had been unable to make contact with them as they moved house or changed jobs.
The fund's chief executive, Stephen Rowe, said: "[We] reunite our members with their super because we know that people might not always get around to doing it themselves".
"Having super deemed lost means a member could risk losing the default insurance coverage that super comes with," Rowe said.
"We don't want our members to miss out on the benefits of finding lost super... There's over $11 billion nationally sitting in lost super accounts."
AUTHOR
Hope William-Smith
Recommended for you
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
