Your 2021 Annual Statement is now available in your online account. Read on to find answers to some commonly asked questions.
Each year, we print and post thousands of letters confirming account transactions as well as periodic statements for all members. Going digital means a faster, easier and more environmentally friendly way to get information to you and, best of all, we’ll save members’ money by reducing how much we spend on paper and postage. You can find more information about this on mine.com.au/digital.
Your statement provides a detailed summary of your account for the period of 1 July 2020 to 30 June 2021. Any transactions that were made from 1 July 2021 are not included. You’ll also have a detailed summary of any insurance on your account, including the premiums you paid over the statement period.
Did you know? You can update your insurance details anytime via your online account. Simply log in and select Manage my insurance to change your cover, update your job classification or submit a claim.
Your projection has been made using standard assumptions with input from the Australian Government Actuary. It’s important to understand that the projection is just an estimate, not a guarantee and that the assumptions used may not match your actual circumstances. The actual money you get in your retirement may be very different from your estimate. There are a number of factors that influence what you’ll get, such as:
Online calculators let you explore your potential retirement income in more detail. They also allow you to personalise the estimate and show how you can improve your retirement income. To help you work out what income you're likely to get from super and
the age pension when you retire and how contributions, investment options, fees and retirement age affect your retirement income, you can use ASIC's MoneySmart retirement planner.
Not everyone receives a retirement projection on their statement. It depends on factors such as what account type you have, your age, how your super is invested, whether you’ve received contributions recently or if you’ve already retired.
It’s been a bumper year for our members in the 2020-21 financial year, with a typical growth fund delivering its best financial year return in 24 years¹. Investment options with the highest exposure to shares performed best, benefiting from a sharp rebound in markets, with the Australian share market gaining 27.8%² over the period. This was in stark contrast to 2019-20, when the economy fell into recession and markets posted sharp losses as the COVID-19 pandemic took hold.
A financial adviser can discuss your personal circumstances and help you understand your options. For more information on how Mine Super Financial Advice can help and what to expect, check out this page.
Enclosed with your Annual Statement is a flyer that steps you through a typical statement and explains terms we’ve used. If you still have any questions about your statement, you can give us a call on 13 64 63, Monday to Friday, 8am to 6pm, or email email@example.com.
Sources: ¹ ChantWest ² Bloomberg