Westpac recently released their Lost Super report. The Report revealed that younger generations are on average 2-3 times more likely to have lost super than older Australians. The report also discovered that:

• 61.8% of Australians Under 40 have Lost Super
• 54.5% of those Under 40 with Lost Super are not Actively Looking for it
• 45% of Australians are likely to have lost super, only 5.6% know they do
• Pilbara, Western Australia is the No 1 Lost Super Region in Australia

Westpac Group Head of Superannuation, Melanie Evans, commented “While we are pleased to see a decrease from last year, $17.4 billion is still a significant amount of super savings to be lost. From our research it is particularly worrying to see the lack of motivation from younger Australians to take ownership of their super given its money they have earned.