Your interactive Year in Review and Annual Statement provide you with an update and important information about your super account. It’s a snapshot of how your super has done over the year and gives you the opportunity to make any changes if you wish (such as to your investment strategy or contributions).
A (super) helpful online experience
Your year in review features two experiences for you to explore:
1. Cruise through highlights – you’ll see this when you first get in. It’s a scroll-through experience that shows you key highlights and outcomes for the financial year. It allows you to flag items you can follow-up on later and will appear as a list at the end of your scroll.
2. Dive deeper into details – you’ll see this at the end of your highlights when you scroll down to the bottom. It’s a personalised site that has sections for you to explore. Each section offers a bit more detail with links to more information, suggested tips for you to consider and the ability to take action or update details in real time while you’re logged in.
Throughout your journey, you’ll be prompted with options to think about; like making an appointment with a financial planner in your area, bringing your super together, using the calculators to see what extra contributions could add up to, updating your beneficiaries and a lot more.
How you’ll receive your annual statement
If you have opted to receive your Annual Statement digitally, you will receive an email to advise that your Year in Review is ready to view, as well as a secure link to the interactive experience and Statements page in Member Online where you can download a copy of your Annual Statement.
If you’ve opted for hardcopy communications, you’ll receive a copy of your Annual Statement in the mail.
You can also log in to Member Online or jump on the Member App to view these.
Before your interactive year in review becomes available, check that you have your Member Number and PIN handy to log into Member Online. If you can’t remember your login details, give Member Services a call on 1800 757 607 and they’ll get you sorted.
A few things to start thinking about before you get your year in review …
Your account balance and activity
You’ll find your account balance, as well as a list of your account transactions for the past financial year – both going into and coming out of your account. You can also dig deeper to see individual transactions.
Take a look at your account balance: is it what you expected? Amazingly, it’s estimated that around 40% of Australians don’t know what their super balance is! In the same way you keep track of how much money you have in the bank, know how much is in your super. After all, your future self depends on it.
Your projected balance when you retire
We’ve done some calculations to estimate what your account balance could be at age 67, based on a number of general assumptions which may or may not apply to you. You’ll also see how much income this could provide for you each year in retirement.
According to ASFA, the average couple currently needs around $62,000 per year to live comfortably in retirement - looking at your projected figure, how are you tracking?
Checking in on whether you’re on track for a comfortable retirement is a great starting point to take action and plan for your future.
Being on top of how your super is invested is very important. That’s because your investment strategy will have a huge impact on how much you’ll end up with at retirement.
Your Year in Review will detail how your super is invested and your investment earnings for the financial year. Your Annual Statement provides you with more information on investment earnings and fees and costs.
Your investment strategy should not be a ‘set and forget’ - when you look at your investments, think about whether your investment strategy is still appropriate for you, bearing in mind how long you have until you can retire.
Get free advice from one of our financial planners to ensure your super is invested in the best way possible for you. Call Member Services on 1800 757 607 to request a callback from a financial planner.
Your insurance cover
Have a look at your insurance and ask yourself whether you’re adequately covered in the event of death, disablement or illness. Now’s the time to consider whether your insurance is keeping up with any changes to your personal circumstances – make sure you have the cover you need.
Take a look at the beneficiaries listed – are they up to date? Have your circumstances changed – such as marriage, divorce, children? Now’s your chance to update your beneficiary nomination if required so that your super is distributed according to your wishes.
Got a question about your Annual Statement?
Member Services are always here to help – simply call them on 1800 757 607 during business hours.
The information on this page has been issued by Maritime Financial Services Pty Limited (MFS). It contains general information that doesn’t take into account your individual objectives, financial situation or needs. It’s important to consider how appropriate this general information is in relation to your situation before making an investment decision. We recommend that you seek financial advice before making any decisions regarding your super or investments. The information on this page is current at the time of publishing.