My Statement

Depending on how your super is invested, the balance can go up and down, even day-to-day. Even retired members are long-term investors, with investment timeframes often 20+ years after retirement. It’s important to keep in mind that ups and downs are a normal part of investing for the long term. Visit our Understanding Market Volatility webpage to learn more.

When Media Super merged with Cbus in April 2022, you would have received an exit statement that outlined your entire balance history prior to then. The information in your online account has picked up from there, and your annual statement shows your estimated balance at 30 June 2023 and transaction history for the 2022/2023 financial year.

The balance on your statement is at 30 June 2023. Your online account will show your latest estimated account balance.

We use a daily crediting rate to give you an estimated balance of your super at any time. These daily estimates can go up and down as the year goes on and as markets and asset values change. The daily crediting rate is an estimate of the investment earnings each day after fees and taxes have been deducted.

More information about crediting rates can be found here.

View our personal retirement income estimate calculate, and you can find full details about your personal estimate in your annual statement.

One of the assumptions we make is that you will retire in a couple, and your partner is the same age with the same super balance. We also assume that you own your home and have no other assets or income.

Yes, the Age Pension estimate is included based on the current pension rate for a couple. It assumes that you and your partner own your home when you retire and other than the estimated super balance at retirement (at age 67) have no other assets or income. The actual pension amount you may be eligible for will depend on whether you (or your partner) are eligible and have other income or assets. Bear in mind, the Age Pension rates and eligibility rules may change between now and when you retire.

If you are Super Income Stream member, you can generate a personalised Centrelink schedule when you log into your income stream account, which you can download as a PDF.

Fees are charged monthly and deducted from your account on the last Friday of the month.

In 2022, the last Friday of June was the 24^th, so the fee cycle for the financial year began on Saturday 25 June 2022, and ended on Friday 30 June 2023. Your fees have been capped at $1,000 for 365 days, but the fee cycle actually ran for more than 365 days this year, so the amount you were charged is slightly more than $1,000 to reflect these extra days. You’ll see this balance out in your statements over the years as the last Friday of June fee cycle moves each year.

How much cover you get and how much it costs will depend on your age. As you get older, the level of insurance reduces on a sliding scale. If you require extra cover, you can apply for it and it will be assessed according to your health and age.

The insured balance verified in your annual statement includes your account balance plus any insurance cover you have on top of that.

Log in to your account to change your insurance cover online.

Click on the ‘Insurance’ tab across the top and then click the button ‘Go to insurance online’ to:

• Apply for, increase, decrease or cancel Death, TPD and Income Protection cover
• Transfer existing insurance cover from another fund
• Change your occupation category.

Or you can complete the relevant form for your membership type and send it to us. Visit mediasuper.com.au/forms.

(Or we can send you the form to complete if you prefer.)

You may have received automatic insurance cover if you are over 25 and your account balance has gone over $6,000.

If you wish to cancel your insurance, you can do so online or contact us or complete the appropriate form at mediasuper.com.au/forms.

Expiry dates apply only to binding nominations. You will be formally notified by Media Super to update your binding beneficiary nomination before it expires. Expired binding nominations that are not renewed or updated will become non-binding beneficiary nominations. You can complete the relevant Renew your binding nomination form.

To make a binding nomination, complete the relevant form at mediasuper.com.au/forms.

To make a non-binding nomination:

• Log into your member account
• Click on the ‘Beneficiaries of my super’ tab across the top and then go to the non-binding beneficiaries section to view and edit your existing beneficiaries.
• If you are nominating more than one beneficiary, the percentages must add up to 100%.

Yes, you can change investment options at any time. Keep in mind that switching to a lower risk option during a period of market volatility may feel like the right decision if you’re close to or in retirement. However, even if you’ve stopped working, your savings could be invested for another 20+ years.

If you want to check if you’re invested in the right option for you, Contact us today.

The projection is based on you retiring at age 67 and assumes you will need your super to support 25 years in retirement. There is also a government requirement to show the projection over a 25-year period.

You can speak to our Advice Services team and they can go through the different calculators on our website. Or you can try out our retirement income estimate calculator.

You are the only one included in the projection. However, we assume you have a partner when you retire, who is the same age as you and has the same super account balance at retirement.

The projection is just an estimate, not a guarantee. For more about the assumptions used to calculate your estimate, view our personal retirement income estimate calculate. You can find full details about your personal estimate in your annual statement. The actual money you get in your retirement may be very different from this estimate. Based on the current super and tax laws, the super amounts are shown in today’s dollars and include any Age Pension you may be entitled to. This is to help you compare them with your current living costs. This does not consider any other super accounts that you may hold or other assets that you own.

For a more tailored projection of your retirement income, you can try our retirement income calculator.

We’ve sent you a brief video to complement your annual statement. It shares some ideas you can think about that could improve your outcome when you retire.

You can click the ‘unsubscribe’ link in the email you received. Or contact us to let us know you’d like to be removed from the list.

Please contact us so we can investigate further.

We’re committed to delivering great service to our members. They’re designed to answer the questions that are top of mind for members, including:

• How much super do I have?
• Will I have enough super in retirement?
• What can I do to improve my expected retirement income?

Generally, the feedback from members has been overwhelmingly positive, which is why we continue to create these videos.

Your personalised video was sent to the email address you gave us, which we use from time to time to keep you up to date with your account and important news in super.

This video is only accessible to you by clicking the link in your email. However, if you no longer want to receive these videos, there is an option in your email to opt-out in the future.

We would like to assure you that we have security controls in place to protect your account information. For example:

• The website and video are both hosted in data centres that meet our high standards of security.
• To protect your identity and access to the video, Media Super does not use any personal identifiable information in the video link. Instead, we use a unique ID that further protects you.
• We also actively limit the personal information provided in your video (rather than full details of your account, which you need to log in to access).