Your 2022 annual statement

From 6 September, Choice Income and TTR Income statements will be emailed and mailed.

From 18 October, accumulation statements will be emailed and mailed.

Members who have registered their email address with AustralianSuper will receive an email notifying them that their statement is available to view in their online account.

We will send you an email once your annual statement is ready to view online. This will be from 6 September for Choice Income or TTR Income members and 18 October for accumulation members. 

If you have an online account, you can download your statement. Just log into your account and follow the prompts to your communications inbox. If you don’t have an online account yet, you can register for one in just a few minutes.   

Once registered for an online account, you can view your statement on our app. 

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Members will receive:

• a letter from AustralianSuper CEO Paul Schroder
• 2021/22 annual statement

You can either log into your account or download the AustralianSuper app to update your contact details. If you want to update your mobile phone number, you must call the contact centre.   

You can change the way we contact you, through your online account.

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If you have a super account, your administration fee is $2.25 per week plus up to 0.04% pa of your account balance for the financial year 21/22 period.

The $2.25 per week is calculated weekly and deducted monthly from your account. The percentage component of up to 0.04% pa of your account balance is deducted daily from investment returns, before returns are applied to your account.

Talk to your employer first. If you’re unable to resolve your unpaid super query with them, visit the ATO website or call them on 13 10 20 for a step-by-step guide on how to recover missed or underpaid super.

If you're an employee, aged 18 or over and earn more than $450* a month (before tax) then you're generally eligible to receive SG super contributions. Remember, it is compulsory for employers to pay at least 10%* of your salary to an eligible super fund like AustralianSuper. These payments need to be made by quarterly deadlines set by the ATO.
*no longer applicable from 1 July 2022

All contributions should be listed on your annual statement, but if in the last couple of days in June we hadn’t received the money, it won’t appear in your statement this financial year. You should see this contribution on your next statement or you can login to your account to view it. If you’re still experiencing issues, please contact your employer.

A projection is an estimate of how much income you could get when you retire, based on a number of assumptions and the balance in your AustralianSuper account at 30 June 2022.

The amounts are shown in today’s dollars and are based on a specific set of assumptions prescribed by the regulator, ASIC. If you have a projection graph on your statement, the relevant assumptions are covered on page 2 of your statement.

Whether you received a projection on your statement depends on factors such as your age, how your super is invested, whether you’ve received or made contributions recently, whether you’ve given us your tax file number and whether you’re already retired or transitioning to retirement.

You can use our online Super Projection Calculator. It helps estimate how much money you could get in retirement, how long your super could last and how adding a few extra dollars to your super now, could make a big difference when it’s time to retire.

Use the online calculator now

The results provided by the Super Projection calculator will be different to those on your statement, mainly because your statement projection was based on your full date of birth while the calculator results are based only on the age you enter.

Also, the assumptions in the projection on your statement may not be identical to the assumptions in the Super Projection Calculator. You can see the relevant assumptions on your statement and within the online calculator.

Your annual member statement will report the amount of investment returns for your account. The investment returns you receive will depend on the investment option you are invested in and any transactions that have occurred during the financial year, such as switches between investment options, contributions and withdrawals.

Your 2021/22 investment returns
The past financial year has been challenging for many members. We have experienced the ongoing impacts of COVID-19, increases in the cost of living and the effects of global economic uncertainty and conflict. Against this backdrop it’s important to remember that your superannuation is a long-term investment for your retirement. At AustralianSuper we actively invest your super as markets move up and down, so that it can grow over time.

For the 2021/22 financial year the Balanced option returned -2.73% for accumulation and TTR Income accounts* and -3.02% for Choice Income accounts*, largely as a result of challenging global investment conditions and emerging concerns about the global economy.

Our PreMixed investment options, such as the Balanced option, are diversified portfolios that invest in a range of different asset classes across regions and sectors. This means they’re purpose-built to cushion the impact of the market’s ups and downs over the long term. In the 2021/22 financial year, positive returns in unlisted infrastructure, unlisted property, private equity and private credit all helped to ‘cushion the fall’ in global share and bond markets. This demonstrates the benefit of investing in a diversified portfolio as we move through market cycles.

After a long period of positive returns, we understand that it can be difficult to see a negative return this financial year. Rest assured that through this period of market uncertainty, our global team of experienced investment professionals remains focussed on ensuring the portfolio is very well positioned and continue to use the size, scale and skill of the Fund to your advantage. As the economic cycle progresses and markets respond, we will adjust the portfolio to manage risk and take advantage of long-term investment opportunities, as we have successfully done over the long term.

If you’d like to hear more about how your investments have performed, watch our review at australiansuper.com/investments.

*Remember that investment returns are not guaranteed and past performance is not a reliable indicator of future returns.

In recent months, the economy and investment markets have been affected by a range of events.

Pent-up demand from consumers, supply chain blockages and the war in Ukraine have all contributed to higher prices – both at home and globally. Central banks have responded by raising interest rates, resulting in falls in investment markets as investors became increasingly cautious about the impact of higher prices and interest rates on consumer spending and business profitability. This has impacted member balances across the super industry.

While a negative return can be unsettling to see, it’s important to look at performance over the long term. Remember that market ups and downs are a normal part of investing. History shows that market downturns and recoveries are to be expected over the lifetime of superannuation investing.

To grow member balances over the long term, the Balanced option invests in a diversified portfolio of growth and defensive assets. As we implement our investment strategy, you may see the performance ranking move around in the short term.

It is important to remember that super is a long-term investment. Staying focused on the long term gives you a more realistic perspective of superannuation investment returns.

In FY22, as markets shifted to a lower growth outlook, investments in high-growth sectors, such as technology and consumer discretionary companies, fell in value, after performing strongly for a number of years. This has negatively impacted our short-term returns.

As active managers, we shifted to a more defensive strategy as conditions for growth assets deteriorated. We continue to review and adjust the portfolio in response to the changing economic and market outlook.

Balanced option Super and TTR Income – returns to 30 June 2022

SUPER RETURNS
TIME PERIOD TO 30 JUNE 2022	BALANCED OPTION	BENCHMARK – MEDIAN RETURN
1 year	-2.73%	-3.44%
5 years pa	7.28%	5.94%
10 years pa	9.32%	7.99%
20 years pa	7.84%	7.04%

Source: AustralianSuper data as at 30 June 2022. Benchmark data: SuperRatings SR50 (Balanced (60-76) Index- median return. Returns from equivalent investment options of the ARF and STA super funds are used for periods before 1 July 2006. Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.

Balanced option for Choice Income accounts – returns to 30 June 2022

ACCOUNT BASED PENSION - CHOICE INCOME BALANCED OPTION RETURNS
TIME PERIOD TO 30 JUNE 2022	BALANCED OPTION	BENCHMARK – MEDIAN RETURN
1 year	-3.02%	-4.09%
5 years pa	7.89%	6.38%
10 years pa	10.27%	8.92%

Source: AustralianSuper data as at 30 June 2022. Benchmark data: SuperRatings SRP50 Balanced (60-76) Index- median return. Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.

When returns are negative, accumulation returns can be higher than pension returns. This is largely due to the different tax treatment of the two investment options.

Returns on pension account investments are tax exempt. While for accumulation returns, investment earnings are generally taxed at 15%, with long-term capital gains taxed at 10%.

As FY22 saw fluctuating investment market and negative returns (investment losses), there was a reduction in the unrealised tax liabilities for accumulation options (i.e. a reduction in the tax accrual). This meant that a tax adjustment was credited to accumulation accounts.

As pension earnings are tax exempt, they were not subject to this tax adjustment, and therefore achieved a lower after-tax return than accumulation accounts.

For the 2021-22 financial year the investment fee for the Balanced option for super and TTR accounts was 0.73% compared to 0.63% for the previous 2020-21 financial year. For Choice Income accounts invested in the Balanced option, the Investment fee in the year ended 30 June 2022 was 0.72% of your account balance. Fees and costs have three components: investment fees and costs, performance fees and transaction costs. The increase in the investment fee in the 2021-22 financial year was primarily due to an increase in the transaction costs component. During the financial year ending 30 June 2022, we invested in several large infrastructure and property assets which incurred upfront costs such as stamp duty. These are assets we intend to hold for the long term but have contributed to higher investment fees for some of our investment options.

Find out more about investment fees for other options and our other fees and costs.