The first section of your statement provides a summary of the money coming in and going out of your account for the statement period as well as a closing balance for the period.

If your account with Mercer MyChoice was opened partway through the statement period, this summary will only show information from the date you joined.

While it’s always good to see your account balance increase year on year, it’s important to remember super is typically considered a long-term investment – often benefiting from a mixture of contributions and investment returns which are compounded over several decades. Returns can and will fluctuate from year to year.

Typically super funds charge a range of fees and costs for managing the fund and its investments. Your member statement outlines the fees and costs that have been charged directly to your account and deducted from your investment, with notes explaining what they pay for.

While having your super invested with a strong performing fund can be great for your super balance, these positive impacts can be further compounded when combined with low admin fees.

See how your investments performed over the statement period.

A super fund's performance over the long-term can make a significant difference to your final balance, especially when combined with low admin fees. 

When it comes to investment options, one size doesn’t fit all – which is why we offer a range of options, each with varying levels of risk and potential for returns.

If you’re unsure whether your current investment option(s) is right for you, try using the self-service e-Advice tool by logging into your account and heading to ‘Advice Tools’.

This tool, can provide you with personal advice to help you determine which of our investment options best align with your specific risk profile as you plan your retirement.

Insurance cover with your Mercer MyChoice account is an easy way of helping ensure there is some financial support for you or your loved ones if something happens to you

You should ensure that your level of coverage is appropriate for your personal circumstances. Having too little could leave you or your loved ones struggling to make ends meet, whereas having too much could mean higher premiums needlessly drain your super balance. 

Before reducing or cancelling any insurance cover, be aware that if you’d like to later increase your cover you may need to go through an underwriting assessment process before the cover can be increased.

You can find further information on insurance in Mercer MyChoice by reading the Insurance booklet.

As your super cannot typically be included in your Will, by nominating a beneficiary, you can tell us who should get your super if you pass away. There are various types of beneficiaries, each with their own rules and processes.

You should review your beneficiaries and, if required, add or update your nominations to ensure the right people are nominated.

You can find more info on beneficiaries, including how to update your nomination on our dedicated beneficiary webpage.

Look ahead at your projected balance of what your retirement savings could look like by the time you turn 67.

Find out how much income you could receive when you retire, and estimate how long your super may last by using the Retirement Income Simulator.

If you think the estimated balance won’t be enough to maintain your desired lifestyle in retirement, you may consider making additional contributions to your super or reviewing your investment strategy.

As a Mercer MyChoice member, you have access to a range of financial advice services, including self-service tools and limited financial advice about your Mercer MyChoice account, all at no additional cost.

You can also access comprehensive tailored advice at additional cost.

You can learn more about available financial advice services on our dedicated webpage.

Checking your profile is set up helps make sure you’re getting the most out of your account.

If there’s anything you need to do to complete your profile set up, you can make updates to your account by logging in and heading to the relevant section.

Your transaction history details all the money that has been deducted from your account (such as fees, taxes and insurance premiums) as well as any rebates and contributions. This includes the Superannuation Guarantee (SG) payments made by your employer.

The minimum SG amount for the 2023/24 financial year was 11% of your gross income. Employers were required to make these contributions on at least a quarterly basis. For the 2024/25 financial year the minimum SG amount was raised to 11.5%.

Check your transactions to be sure your employer has been making these contributions in full.

For further information on SG contributions, including what to do if you think your employer has made a mistake, visit our dedicated SG webpage.

Mercer MyChoice annual statements will begin being issued in early September, with most members having received their statement by late September.

Depending on your communication preference, we’ll either send you an email with a link to our secure online portal Member Online, or a letter with a paper statement. Once your statement is available you can access it any time by logging into your Member Online account and scrolling down to the ‘Account statements’ section. 

If you encounter any problems while logging in to your online account please see our dedicated webpage for helpful info, a how-to log in video and a list of frequently asked questions.

You can update how you receive future annual statements by logging into your online account, and navigating to ‘Communication preferences’, located within the ‘Personal details’ section.

You can update your personal details, by logging into your online account, and navigating to the ‘Personal details’ section.

Fees deducted directly from your account include any dollar-based administration fees, insurance premiums, and if applicable, the Mercer Direct Portfolio fee.

You can find further information about the fees deducted directly from your account in the Product Disclosure Statement.

Fees deducted directly from your investment include any asset-based administration fees, investment fees, investment costs, estimated expense allowance range and transaction costs.

You can find further information about the fees deducted from your investment in the Product Disclosure Statement.

The figure for 30 June tells you the insurance cover amount you held for the 2023/24 financial year, whereas the 1 July figure shows the amount you hold as at 1 July 2024.

You should ensure that your level of coverage is appropriate for your personal circumstances. Having too little could leave you or your loved ones struggling to make ends meet, whereas having too much could mean higher premiums needlessly drain your super balance.

You can find further information on insurance in Mercer MyChoice by reading the Insurance booklet.

For further information on beneficiaries, including the benefits, the types of beneficiaries and how to make a nomination, please visit our beneficiary webpage.

If you have previously made after-tax (non-concessional) contributions and claimed them as a tax deduction (converting them to a concessional contribution) they may not appear on your statement as a concessional contribution.

This is due to us still needing to report how the contribution was received. When we originally processed your notice of intent to claim a tax deduction we would have issued you a confirmation letter. If required as part of your tax return, you can provide this letter to either the ATO or your accountant.

The contribution amounts shown on your Mercer MyChoice annual statement are specific to your Mercer MyChoice account.

If you held another super account throughout the previous financial year any contributions made to that account will not appear in your Mercer MyChoice statement. 

To determine how much you contributed across all your accounts, you should review any relevant documentation relating to your other super account(s), in conjunction with your Mercer MyChoice statement.

If you only held the one account throughout the financial year and you believe the contribution amounts listed on your statement are incorrect. Please contact our Helpline on 1800 682 525.

As a Mercer MyChoice member, you have access to a range of financial advice services, including self-service tools and limited financial advice about your Mercer MyChoice account, all at no additional cost.

You can also access comprehensive tailored advice at additional cost.

You can learn more about available financial advice services on our dedicated webpage.