Superannuation is an attractive target for scammers as a significant volume of funds are placed into super funds by Australians. You can take some straightforward steps to protect yourself from super scams.
Know The Rules
- Becoming familiar with the rules surrounding superannuation will alert you against scams that make false claims e.g. offering early access to your super
- Keep up to date with the relevant authorities so that you don’t put your personal information on the wrong websites – always check that relevant institutions have verified their authenticity!
Check Your Balance And Contact Details
- Check what your super balance is regularly – if you notice something that doesn’t quite look right, then immediately get into contact with your super fund and ask them about what could have happened.
- Every once in a while, check that your super fund has the right postal address, email address and mobile number – this will help them get in touch with you if they spot any suspicious activity.
Stop Identity Theft
- Taking the steps to stop identity theft will also help protect your super
- This does not have to be too complicated e.g. shred important documents, change passwords every few months, etc.
If you fear that your superannuation fund may have been the target of a scam or illegal breach, it’s imperative to contact your superannuation provider as soon as possible.