Many Indigenous Australians are not receiving a warning that if they have less than $6000 in a superannuation account, it will be on the move to the Australian Tax Office and when that happens, automatic insurance cover will be lost. First Nations Foundation is trying to alert people around the country to these changes, coming on 1 July 2019.
Amanda Young, CEO of First Nations Foundation said: "Now is the time to tell everyone you know to check their superannuation. First Nations people deserve to make informed choices". This includes whether people want to keep paying insurance premiums in case something happens and they can't work any more (called TPD or total permanent disability insurance) or to keep track of where their superannuation is going.
First Nations Foundation is the only non-profit that travels around Australia helping Indigenous people with their superannuation. Their Big Super Day Out program travels to Darwin, Kununurra and Broome in July 2019 and then to four remote Arnhem communities in August 2019.
For the ABC story on this go here: ABC story
For a website to help you decide what to do: timetocheck