Understand your UniSuper statement

Regardless of who you are or where you live in Australia, if you’re a UniSuper member there's one thing you’ll have in common with many of your colleagues this month. You’ll be receiving your bi-annual superannuation statement and, dependent on your preferred delivery, you will be alerted by email to access your statement online, or it will be mailed to your postal address.

Reading and understanding the statement is crucial in taking control of your financial fitness. Here is a quick rundown of what you're likely to find, and why it's important:

• Investment options and performance: This tells you how your fund has performed over the last six months and is likely to grab your attention first. Your investment option choice can impact how much superannuation you end up with when you retire, so make sure your choice is right for your personal circumstances.
• Insurance cover: Have a good look at your cover and make sure your beneficiary details are up to date. The right insurance options can provide you and your family peace of mind, protection and financial security if something were to happen to you. Make sure that it's sufficient for your needs and circumstances.
• Defined benefit calculation (for members of the Defined Benefit Fund): This provides a breakdown of how your defined benefit component is calculated, giving you a better understanding of what the benefit formula means to you.
• Fees: Your statement will list any of the fees that UniSuper deduct from your super savings to make up for the cost of running the fund.

To better understand your statement and superannuation details you can book an appointment with a UniSuper Super Consultant, call the UniSuper Member Service Team on 1800 331 685 or visit the UniSuper Tools and Learning webpage.