Nearly 4 million Australians have never checked their super’s performance. Here are six numbers worth knowing before your next statement hits the bin.
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This article is general information only and is not financial advice.
You know that feeling when a letter turns up that's clearly just a glossy ad, so you bin it without opening it?
That's exactly how most of us treat our super statement.
But unlike actual junk mail, your super statement is reporting on one of the biggest financial decisions you're making right now, whether you're paying attention or not.
In fact, a May 2026 Finder survey found 19% of Australians (about 4 million people) have never reviewed their super fund's performance at all.
So today, let's actually open the envelope from your super fund and walk through the key figures you should probably know.
Super statements might look a little different from fund to fund, but they usually cover the same key things. Here’s what to look for and why it’s worth a squiz.
Opening balance is how much super you had at the start of the statement period, while your closing balance is how much you had at the end.
It’s like looking at the big picture - this number bundles contributions, returns, fees and insurance all into one.
Contributions are the payments made into your super account, including money from your employer and any extra contributions you make yourself.
The main thing to check here is whether your employer's super guarantee (as of July 2026, this should be 12% of our base salary) has landed on time.
Under Payday Super, employers now pay it with each pay cycle instead of quarterly, and it should reach your fund within 7 business days. If you’ve opted to salary sacrifice or made additional personal contributions, make sure that’s landed too
Investment returns are the gains or losses your super earns from investments, over the statement period.
Compare this to your investment option's benchmark (the target it's aiming to achieve) and similar investments from other super funds. Remember, a growth investment option and a conservative one are built to perform differently.
Fees and costs are the amounts deducted from your super to cover things like managing your account and investing your money.
Common ones you’ll see are administration fees, investment fees and insurance premiums. It’s easy to brush off small fees now, but over decades this can really start to eat into your super balance!
Insurance premiums are regular payments deducted from your super to cover insurance held through your super fund. Think: life insurance, total and permanent disability cover (TPD) and income protection.
Take a peek at what cover you have and whether you’re paying for similar policies outside super too. You could be doubling up without realising it! Just make sure you understand what each policy covers before making any changes.
This is one many people forget to check.
A death benefit nomination lets your super fund know who your super should go to if you pass away.
There are generally two types - a binding nomination is one your fund must follow (some lapse after three years), while non-binding ones are just a guide.
Bonus check: If you’ve changed jobs a few times, you could have super hanging around in an old account you’ve completely forgotten about. As of February 2026, Australia has a whopping $21.5 billion in unclaimed super. Just jump onto the ATO website to track it down. You could find a little extra cash for your future self!
Annual statements are just a once-a-year snapshot though, which is a long time to go without visibility over your own money. Want to feel more across your super? The Getting on top of your super Academy in the Flux app, created in partnership with Netwealth, breaks it down in six short lessons. From how super works to consolidation your funds, to how to make sense of your statement.
Your super statement might not be top of your reading list (we get it, there’s a reason Netflix exists), but giving your super some attention could pay off big time when you’re ready to leave the 9-5 life for good.
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Flux does not operate under an Australian financial services licence and relies on the exemption available under section 911A(2)(eb) of the Corporations Act 2001 (Cth) and ASIC RG 36.66. Flux Technologies Pty Ltd provides general advice on credit products under our own Australian Credit Licence No. 530103. The product information presented does not constitute an offer and we are not recommending or suggesting any particular product.
The Information contained in this article is general information. It does not constitute legal, tax, credit or financial advice and is not tailored to an individual’s circumstances. You should consider your own personal circumstances and seek advice from your professional advisers before making any decisions that may impact your financial situation.
Netwealth Superannuation Services Pty Ltd issues Netwealth Super Accelerator. Netwealth Investments Limited issues the Netwealth Wealth Accelerator Multi-Asset Portfolio Service. Information contained within this post is of general nature only. Consider whether the products are appropriate for you and seek advice where required. To help you decide, read the PDS or IDPS Guide and TMD available at Netwealth - Super & Investment Solutions - Investors & Wealth Professionals.
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