The government has rushed through legislation to take over bank and superannuation account balances where there has not been a transaction for as short a period as one year.
Westpac seems to be warning customers about this and we assume the other banks and financial institutions will follow suit. However it is worth reading the attached article and taking preventative action if you have accounts which could be impacted.
Note that you can check for "lost' super balances using a facility called "Superseeker" - see the following link.
Please contact our office if you would like to discuss or require assistance.
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