How to read your Annual Member Statement

Written by:

Member Experience team

15th of December 2021

A helpful guide to understanding annual member statements.
Only got 2 mins? Check out our video explainer.

We know that annual superannuation statements can contain a lot of information, so we wrote this handy guide to help you understand the details.

Your Account Summary

The annual statement is a summary of your account in the past financial year (from 1 July 2020- 30 June 2021)

Opening balance is the balance of your account at the start of the financial year, 1 July 2020.

What’s been added include funds allocated to your account, such as rollovers from your other super accounts, contributions (government, employer and personal contributions, for example) and tax rebates (you receive a tax rebate of 15% on direct fees deducted from your account).

What has been deducted from your account include deductions like taxes on your contributions, withdrawals, insurance premiums and direct fees. (Fees are explained further below). Note, anything in brackets means a deduction or loss.

Investment Earnings shows the net return (or loss) for the year. This is the net movement in value of your investment over the year, less any indirect fees or taxes. (Read more about this below).

Closing balance is the balance at the end of the financial year (ending 30 June 2021). Please note, this is not your current balance.

Accessing your super

Your account balance is broken into different components in the ‘Access Your Money’ section.

Preserved means you can only withdraw this money if you meet a condition of release.

Restricted non-preserved benefits generally stem from employment-related contributions (other than employer contributions) made before 1 July 1999. You can access this component of your super if that employment has terminated.

Unrestricted non-preserved benefits are the funds in your account that you can withdraw without restriction.

Investment Performance

How returns are calculated

Your investment performance is displayed after the percentage-based fees and taxes are deducted (more on this below). This also means our published fund returns are shown after those fees and taxes are deducted.

Your personal investment performance may differ to the fund performance depending on when you rolled in, and when and how much you contributed during the financial year.

Your insurance details

Future Super provides insurance on an opt-in basis only, i.e., we do not automatically provide members with default insurance. If you have cover with us, it will appear in the Insurance Cover section and state your policy type and coverage amount.

You can read more about our insurance cover here. You can also see more information about our policy in our Insurance Guide.

Your Beneficiaries

This shows who you have nominated to receive your super and/or insurance benefit if you die. These nominations can be applied as binding or non-binding. 

If you do not nominate a beneficiary, the Trustee of Future Super will have the final say as to who should receive your benefits. 

You can read about how to nominate a beneficiary here.

Total Fees You Paid

You pay direct fees and percentage-based fees. Combined they make up the total fees. A more detailed breakdown of fees can be found from page 24 of the Additional Information Booklet

The percentage-based fees are deducted when calculating your investment earnings figure, so they don’t appear in your transaction history. In the statement, they are listed under total of indirect costs of your investment and other fees of your investment.

A direct fee is deducted directly from your account and appears in your transaction history and is typically the dollar based administration fee.

If you have any further questions you can find answers on our Support and FAQs page, email us at or call us on 1300 658 422.

You should read the important information in our Product Disclosure Statement, Additional Information Booklet and Target Market Determination before making any financial decisions with Future Super.

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