Your 2020 annual statement is now available

Date Posted: 22 October 2020

Your 2020 annual statement is now available in your online account. Members will also receive a hardcopy in the mail over the coming weeks. Read on to find answers to some commonly asked questions.

If you have any difficulties accessing your statement or are unable to view it, please contact us on 13 64 63.

How do I access my statement online?

To view your statement online, simply log in to your online account and go to your inbox where you can view, save or download it.

Handy tip: Your FY2019 statement will also be available in your inbox.

I haven’t used my online account before. How can I get access?

Registering for online account access is easy and only takes a few minutes. You can register by clicking here and following the prompts. Before you get started, make sure you have your member number and mobile phone handy.

When will I receive my hardcopy statement?

You’ll receive your hardcopy statement in the mail over the coming weeks.

What period does this statement cover?

Your statement provides a detailed summary of your account for the period of 1 July 2019 to 30 June 2020. Any transactions, including any early release of super withdrawals, that were made from 1 July 2020 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’ and you can change your cover, update your job classification or even submit a claim.

How do I update my details?

You can update your email and postal address via your online account. You can also view and manage your investment options online and for pension account holders, change where your pension payments are paid from.

What does ‘not verified’ for my date of birth mean?

If we’ve received your date of birth, for example from your employer, but haven’t seen a copy of your ID to confirm this, we’ll record your date of birth but note it’s not verified. Verifying your date of birth ensures that your account details such as your default investment option or any insurance cover you may have are correct, as we’ll use your age to determine these.

To verify your date of birth, you can email us a copy of your photo identification, such as your driver licence, proof of age card or passport.

How did you work out my retirement income projection?

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:
  • the investment options you choose;
  • the performance of your investment
  • the total fees charged;
  • when you retire and get access to your super;
  • the super contributions you and your employer make;
  • whether you choose to buy an account-based pension or non-account-based income stream when you retire;
  • any allowance you make for a pension for your spouse or partner; and
  • whether you receive any age pension or other government benefit.
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. You can use ASIC’s MoneySmart retirement planner 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.

Why does my statement not include a retirement income projection?

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.

How has COVID-19 impacted my super?

Share markets remain volatile because there’s no certainty about when the coronavirus will be brought under control and markets generally don’t perform well when there’s uncertainty. The market volatility may affect members differently depending on where they are in their superannuation journey. 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, click here.

More information

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 help@mine.com.au.