There are almost $18 billion in lost and unclaimed superannuation accounts either held by super funds or the Australian Taxation Office.
Assistant tax commissioner Debbie Rawlings is encouraging Australians to keep track of their super through the ATO's online services on myGov, saying it has reunited $8.12 billion worth of accounts in the past four financial years.
"But these figures show there are many people who still may not realise how quickly and easily they can check their super accounts," Ms Rawlings said in a statement.
Updated figures on Thursday show super funds are holding $14.12 billion of lost super, with a further $3.75 billion of unclaimed super held by the ATO.
People can lose contact with their super funds when they change jobs, move house, or haven't updated their details with their super fund.
Australia's peak superannuation body argues the law should be changed to put the emphasis on the tax commissioner to reunite lost funds with active accounts.
The Association of Superannuation Funds of Australia says the tax office holds tax file numbers and other identifying information in regard to most super accounts, making it easy for the commissioner to match lost accounts.
"A move to place the responsibility on the ATO to reunite lost accounts with their true owners would be welcomed by consumers," ASFA chief policy officer Glen McCrea said in a statement.
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