Understanding your statement of account
This section provides information about the different elements of your statement of account (SOA).
The header of the SOA contains details identifying you (for example, your tax file number) and the period the statement is for. There is also a unique ‘Our reference' number that you can quote when making an enquiry.
We include our web address and phone number in case you need more information or help.
Summary of your statement
If you have multiple roles within your super account, this section provides a summary of all the roles and their current balances. A separate transaction list for each role will be itemised.
You may have both debits and credits appearing in this section and you should refer to the transaction list(s) for each role for further information.
Each role refers to a separate super product – for example, co-contributions, LISC, superannuation holding account (SHA), super guarantee (SG) and unpaid super money. The transactions are reported on a separate page of the statement of account.
Because each role is reported separately, one role can be in credit while another could be in debit. We will only offset roles against each other where superannuation legislation allows us to do so.
In most cases, the credits and debits are in relation to payments and recoveries to or from your super fund. If you have nominated more than one super fund for different products, the credits and debits may also relate to different super funds.
When a debit balance is reported on any role, payment may not be required by you. Where a payment by you is required, a separate notice will be issued to you. You may have already received this notice.
The payment slip is to be used with a payment if you are required to repay super-related debt.
Process date and effective date
The process date is the date that we processed a particular transaction.
The effective date is the date we use for the calculation of general interest charge and other penalties or interest. It is also the due date of any liabilities.
Refund cheque or EFT details
Your statement may be issued with a refund cheque or details of electronic funds transfer (EFT).
The cheque is protected with an ultra violet fluorescent ink which can be verified under an ultra violet light, the absence of this could indicate a fraudulent cheque.
The statement only lists those transactions that we processed on your account for the period shown. Any transactions processed earlier that are due and payable within this period are included in the opening balance.
Your statement may not cover all your dealings with us. For example, you may have amounts outstanding in relation to other accounts or current legal, release or dispute actions. You can find out the current balance of your account and details of other accounts by phoning us on 13 28 61 for individuals or 13 28 66 for business.
The transaction list or lists in your SOA provide details of all the credits and debits applied to your superannuation roles for the statement period.
If the transactions in the list(s) do not fit on page 1 of the SOA, they will carry over to page 3 and subsequent pages, depending on how many transactions are processed during the statement period.
A debit amount is an amount debited to your account such as a penalty, refund, or an overpayment waiting to be paid by your super fund. If the overpayment has been paid directly to you, you will receive a separate letter advising you of this.
A credit is an amount credited to your account such as credit interest, payment or an amount waiting to be paid into your super fund.
The closing balance may be a credit amount (CR), or a debit amount (DR). The closing balance may also be $0.00.