Mercer MyChoice       |       Your annual statement

Your annual Mercer MyChoice statement


To ensure you get the most out of your statement, we’ve unpacked some key sections below.

Inside your annual statement


Your annual Mercer MyChoice statement shows you how your super performed over the past financial year, but it’s more than that. Your statement is a great source of valuable information to help you understand how you’re tracking and how to reach your long-term financial goals.

When will you get your annual statement?


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

Get the most out of your annual statement


To help secure your financial future, you can do a few simple things after receiving your annual statement.

Depending on your account type or when you joined Mercer MyChoice, some of the example images shown below may not match your statement. However, you will still receive the same information.

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  • Review your account summary

    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.

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    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.

  • Check how much you’ve paid in fees

    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.

  • Review your investment performance

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    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.

  • Check your insurance cover meets your needs

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    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.

     

  • Make sure your beneficiaries are up to date

    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.

  • Investigate your projected retirement balance

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    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.

  • Check your personal details are correct

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    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.

  • Review your transactions

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    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.


Frequently Asked Questions


General

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Fees

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Insurance

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Beneficiaries


Contributions

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  • Why aren't my tax deductions I've claimed appearing?

    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.

  • Why aren't all my contributions showing?

    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.


Financial advice

Need more information?

If you require general information, visit the Mercer MyChoice website.

Member Online Support

Member Online support

Log in to your account for more information or to submit an online enquiry.

Contact Our Helpline

Contact our helpline

Visit the member support page or call 1800 682 525, Monday to Friday, 8am - 7pm (AEST/AEDT).

 

Published by Mercer Superannuation (Australia) Limited (MSAL) ABN 79 004 717 533, Australian Financial Services Licence 235906, the trustee of Mercer MyChoice, a plan in the Mercer Super Trust ABN 19 905 422 981 ('Mercer Super'). Any advice contained in this document is of a general nature only, and does not take into account the objectives, financial situation or personal needs of any particular individual. Prior to acting on any information contained in this document, you need to consider the appropriateness of the advice taking into account your own objectives, financial situation and needs. Consider the Product Disclosure Statement, Target Market Determinations, Product Guide, Insurance Booklet, and Financial Services Guide before making a decision about the product, or seek professional advice from a licensed, or appropriately authorised financial adviser if you are unsure of what action to take. For more information about this product, please refer to the PDS which is available free of charge. You should consider the PDS in deciding whether to acquire, or to continue to hold, the product.

The material contained in this document is based on information received in good faith from sources within the market and on our understanding of legislation which we believe to be accurate. Neither Mercer nor any of its related parties accepts any responsibility for any inaccuracy.

This information is based on the interpretation of current tax laws which may change. You should obtain your own tax advice.

Mercer financial advisers are authorised representatives of Mercer Financial Advice (Australia) Pty Ltd ABN 76 153 168 293, Australian Financial Services Licence #411766.

The value of an investment in the Mercer Super Trust may rise and fall from time to time. The investment performance, earnings or return of capital invested are not guaranteed. Past performance is not a reliable indicator of future performance.

'MERCER’ is an Australian registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917.