Annual superannuation statements - what you need to know

author-avatar By on September 20, 2021
Annual superannuation statements - what you need to know

Annual super statements arrive for all Australians this month and QSuper Chief of Member Experience, Jason Murray, has released five important details that Aussies should be checking. 

1. Check your account balance

"Your statement will show your opening and closing balance for the financial year," Mr Murray said.

"Ideally, your statement should also include a snapshot of your account over the past five years so you can see how your retirement savings are tracking over time.

2. Review your transactions

"Just like a bank statement, your super statement will detail all the transactions on your account for the year, including the contributions made to your account, and any fees, insurance premiums and withdrawals that have come out.

"If you are employed, check to make sure you've received regular contributions from your employer.

"If you have been topping up your super through salary sacrifice or after-tax contributions, make sure they are on there too.

3. Check how your investments performed

"Your statement will show you how your money is invested and how those investments performed, including your total investment earnings for the year.

"Super funds offer different options that range from low to high risk, so make sure you’re comfortable with where your money is invested.

"The right investment can make a big difference to your retirement.

4. Check your insurance cover

"Your statement will provide you with a summary of the automatic insurance that may come with your super account, including whether you are covered if you’re off work due to sickness or injury and the amount that will be paid out if you die or become totally and permanently disabled.

"Check the total benefits available to you and review your premiums to make sure your cover is right for your current circumstance.

5. Review nominations

"Review your personal details including who you have nominated to receive your super if you die.

"Make sure your super fund has your most up to date contact details, including your email and postal address, so you don’t run the risk of losing your super account down the track.

"If your circumstances have changed recently, make sure you have updated your beneficiaries because your super does not form part of your estate."


Looking to take control of your retirement? This table below features SMSF loans with some of the most competitive interest rates on the market.

Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details


  • Easy refinance process
  • No application fee and no settlement fee
  • No monthly, annual or ongoing fees


  • Easy refinance process
  • No application fee and no settlement fee
  • No monthly, annual or ongoing fees
FixedMore details

SMSF 80 Fixed 5 Years (Purchase) (New Customer)

VariableMore details

Liberty SuperCredit SMSF (LVR < 60%)

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of October 23, 2021. View disclaimer.

Picture by Cathryn Lavery via Unsplash


The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered which includes retail products from at least the big four banks, the top 10 customer-owned institutions and Australia’s larger non-banks:

  • The big four banks are: ANZ, CBA, NAB and Westpac
  • The top 10 customer-owned Institutions are the ten largest mutual banks, credit unions and building societies in Australia, ranked by assets under management in November 2020. They are (in descending order): Great Southern Bank, Newcastle Permanent, Heritage Bank, Peoples’ Choice Credit Union, Teachers Mutual Bank, Greater Bank, IMB Bank, Beyond Bank, Bank Australia and P&N Bank.
  • The larger non-bank lenders are those who (in 2020) has more than $9 billion in Australian funded loans and advances. These groups are: Resimac, Pepper, Liberty and Firstmac.
  • If you click on a product link and you are referred to a Product or Service Provider’s web page, it is highly likely that a commercial relationship exists between that Product or Service Provider and

Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site.

In the interests of full disclosure,, Performance Drive and are part of the Firstmac Group. To read about how manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

*Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees and costs savings, such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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Aaron joined in 2021. He is a finance journalist with a keen interest in property, the share market, and improving financial literacy in young Australians.

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