Your annual statement

At BT, we want to make understanding your super or pension investments simple!

Your annual statement provides a lot of information, so we want to let you know what to look out for, and to explain some key terms.

Section One, explains some of the key terms you should know when reading your statement, while Section Two provides some sample statements highlighting the key pieces of information you should look out for when reviewing your own annual super or pension statement.

Section One: Understanding your annual statement

Annual Statement

  • A detailed summary of your account including performance of your investment options, transactions, insurance and a record of all fees (including any insurance premiums) and taxes paid.

Insurance (super members only)

  • Cover on death or disability. On the occurrence of death, your beneficiaries or Estate will receive your life insurance amount, plus your superannuation account balance.
  • In the event of disability, you may be able to receive an insurance payout and can apply to access your superannuation balance before retirement in extenuating circumstances.
  • Salary Continuance Insurance (SCI) provides cover if you have an injury that prevents you from working for a period of time by providing a regular payment in place of salary. SCI is not available in all products. Please check the relevant disclosure document or call us on 132 135.

Fees

  • The total fees you paid during the year.

Account Balance OR Withdrawal Value, Withdrawal Balance, Investment Value

  • Your account balance is the amount of your investment as at 30 June 2011.
  • Should something happen to you, your amount payable on death is the total of your account balance and any insurance benefits you may have.

Personalised Rate of Return OR Net Earnings Rate, Performance of Your Investment

  • Your Personalised Rate of Return looks at your total investment and shows your earning rate after allowing for your transaction history, taxes and fees.
  • It is always displayed as a percentage.
  • It not the same as the Long Term Return rates displayed on your statement.

Long Term Returns

  • The Long Term Return rates are the performance of the investment options in your super fund.
  • These are not the actual returns experienced for your own investment. For each investment option selected, these rates reflect the historical earnings achieved at product level so may not match your individual earning rate.
  • These rates show the average annual return of each of your investment options over a certain number of years (for example, 5 or 10 years to 30 June 2011).

Beneficiary

  • A beneficiary is someone you have nominated to receive your super and insurance (if applicable) in the event of your death. You can nominate a dependent or legal personal representative (the executor of your Estate). Make sure that your beneficiaries are updated so that if it comes to it, your superannuation fund knows who you want it to go to. You can download our online ‘Nomination of Beneficiaries’ form from the forms page or contact us on 132 135 to nominate your beneficiary.

Section Two: How to read your annual statement

Depending on which super fund you are with, and even which product, your annual statement layout and content may vary.

To make it easier for you to read your statement, we have some examples of annual statements to help you find the key things you should look for when reading your own statement.

Simply, click on one of the links below to view an annual statement sample that may be relevant to you.

Things you should know: Information current as at 22nd June 2011. The information on this website does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. The information provided is factual only and does not constitute financial product advice. This information provides an overview or summary only and it should not be considered a comprehensive statement on any such matter or relied upon as such. © BT Financial Group Pty Limited ABN 38 087 480 331.