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$47mill Ansett super unclaimedDate: 04 April 2008
Almost seven years since the collapse of Ansett it appears that almost $47million worth of superannuation remains unclaimed by around 1,959 former Ansett employees whose super was transferred to AUSfund after Ansett Airlines collapsed in September 2001. AUSfund, which acts as a holding fund for super funds that have lost track of their members, had money previously held in the Ansett Ground Staff Super fund and the Ansett Flight Attendants fund and the Ansett Pilots Management fund transferred into AUSfund back in 2004.
What is the current situation?In 2004 around $65million was transferred from these Ansett funds representing about 3,000 accounts. Despite a number of years elapsing since the collapse, 1,959 members of staff have still not claimed their super from AUSfund.The average balance remaining unclaimed as at 30 June 2007 was $24,000 with the highest balance being over $400,000. AUSfund has been actively trying to find former Ansett staff who have not claimed their super but despite these efforts the fund is still looking for a number of employees. The ASU's own experience has shown that there is still a large number of employees who ask from time to time where their super is, and so we urge all former Ansett employees to contact their various networks to ensure that all former employees have reclaimed their super. AUSfund is keen to find former Ansett employees who have not claimed their super and help them transfer their super into a new fund.
Have you failed to claim your super?If you have failed to claim your super you should contact AUSfund as soon as possible. Their details are as follows:
The website has a super search capability enabling you to type your name into their database to see if you have any super with the fund. Check it out here. If there is a match you need to ring or email AUSfund. It doesn't cost anything to use AUSfund for civilities. What should I do if I do have funds in AUSfund?AUSfund can provide you a form to roll over your Ansett funds into a current super account. This is a good idea so that you don't incur multiple fees and don't lose track of your super in future.If you're not sure where to put your new found super you should seek independent financial advice. The ACTU Members Connect call centre can give you details on ACTU approved advisers. The details of ACTU Members Connect are as follows:
What can you do?If you have rolled over your Ansett Super but are still in touch with other Ansett employees please send this news item around and alert your colleagues to the unclaimed super that is waiting there and let them know what to do, after all it's their money and should be used for their retirement.
For further information
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