New laws to be introduced in July will see accounts that had no contributions for 16 months or that hold less than six thousand dollars transferred to the Australian Taxation Office.
But there are concerns that people holding these accounts could potentially lose their life insurance, and total or permanent disability funds unless they contact their super fund.
Deloitte superannuation advisor Russel Mason says that could impact negatively on some people.
“It could particularly affect people where English is not their first language, people who are travelling and are hard to be made contact with, and people in isolated parts of Australia, indigenous communities for instance, where they may not get regular communication."
Kristin Hartnett, a financial counsellor for the Salvation Army shares Mr Mason's concerns, and says the people who will be most affected by the proposed changes are the people who can least afford it.
University of Sydney finance professor Susan Thorp says there is no need to panic.
To hear more, click on the audio link above and listen to this presentation in Punjabi.
