It has been a significant issue for the superannuation industry for many years but a greater number of lost and forgotten retirement savings accounts will soon be under the care of the Australian Taxation Office (ATO).

To stop these accounts being eroded by fees and charges, money held in super funds that have not received an additional amount for the last 12 months or more, and have a value of $2000 or less will by transferred from the holding fund to the ATO by May 31.

Previously this was limited to accounts of just $200.

"By having these lost accounts with low balances transferred to the ATO, it will be easier for Australians to find their savings and roll their money into one fund of their choice," the ATO's deputy commissioner for superannuation Alison Lendon said in a statement.

Last month, Superannuation Minister Bill Shorten announced that federal government had upgraded its SuperSeeker online tool that allows users to manage their super accounts and search for any lost accounts.

There are about 3.4 million lost super accounts in the system totalling more than $17 billion.

Once registered with SuperSeeker, people can find out if they have any lost ATO-held super money and nominate a fund so it can be transferred.

"Being able to find and transfer lost and ATO-held super money online using SuperSeeker is a big time-saver and importantly, people can do this in a secure environment," Ms Lendon said.

Lost accounts transferred to the ATO will attract interest calculated at a rate equivalent to consumer price index inflation.