Review Your Australian Super Statement: Contributions, Fees and Questions
A practical worksheet for checking an Australian super statement, comparing costs on a consistent basis and recording questions for your fund.
Read the statement before changing the strategy
Super is retirement savings invested through a super fund. Reviewing it begins with the information about your actual arrangement, rather than an old list of contribution rates or a promise of higher returns.
Moneysmart explains how super works and provides guidance on choosing a fund. This worksheet turns that research into a set of records and questions. It does not recommend a fund, a rollover, a contribution amount or an investment option.
Make a statement checklist
Find your latest fund statement and record its date. Identify the opening balance, contributions, fees, insurance premiums, investment movements and closing balance as the statement presents them.
Keep the labels used by the fund. An investment return is not the same as a contribution. A fee deducted from the account is not money withdrawn for living costs. If an entry is unclear, ask the fund what it means before changing the categorisation.
Compare contributions recorded by the fund with the relevant payslips and dates. If something appears missing, record the period and ask the employer or fund to explain it. The ATO publishes current super-guarantee information; use that guidance for the relevant period rather than relying on the old figures this article previously contained.
Do not upload payslips, account identifiers or statements to WealthHerd. Keep those records private.
Reconcile an invented example
Suppose a fictional statement starts at A$40,000. It records A$3,000 in contributions, A$1,200 in investment gains and A$300 in total deductions.
With no other entries, the closing balance is A$40,000 + A$3,000 + A$1,200 − A$300 = A$43,900. This is a reconciliation exercise, not a forecast, tax calculation or illustration of an employer's required contribution.
A real statement might show additional entries or use a different presentation. Follow its definitions and date range. If you cannot make the movement reconcile, list the unexplained items and ask the fund about them rather than inventing a balancing figure.
Compare like with like
When researching another fund, record the exact investment option, its risk description, charges and the period of any performance figures. Comparing differently invested options using only a recent return is incomplete.
Moneysmart's choosing-a-fund guidance highlights fees, performance and other factors, and points to the ATO's YourSuper comparison tool for MySuper products. Review the scope of a comparison tool before assuming it assesses every feature of your own arrangement.
Keep insurance and other benefits on a separate line. Before any move, check what happens to existing cover and whether new cover would have different terms. A fee-only comparison does not answer those questions.
Record decisions that need individual guidance
Contribution caps, tax treatment, access and government schemes have conditions. This worksheet deliberately does not calculate a tax saving or decide whether you qualify for a withdrawal or a particular contribution arrangement.
Write down the question and the source that needs checking. If you are considering a material change, use the relevant fund and official guidance and obtain personal advice where appropriate.
Does a high past return make one option better?
It does not establish future performance or suitability. Check the investment exposure, risk and comparison period.
Can a WealthHerd model predict my super balance?
It can illustrate the growth assumptions you enter. It does not reproduce a fund's tax, insurance, contribution or access rules.
What is a useful next step?
Resolve the unexplained statement entries first. Save the worksheet date and the questions you have sent to the fund so your next review begins with clearer information.
Correction — 14 October 2026
Removed outdated super figures, a misleading tax example and unsupported brokerage/platform comparisons. Replaced them with a statement-review workflow and official references.
This article provides general education and illustrative arithmetic, not personal investment, pension or tax advice.
