Your annual statement

If you’ve opted to Go Digital, you’ll receive links to your Annual Statement and Digital Annual Statement Summary either by email or SMS.

To check where yours will be sent, log into online account to Go Digital and update your details. If you prefer to receive your Annual Statement through the post, we’ll mail it to your nominated postal address.

You can check your Annual Statement at any point after it’s been sent out by logging into your online account.

Your Annual Statement will include all the information specific to your CSC super account. This could include any contributions you’ve made, your investment performance, any insurance policies or cover attached to your superannuation, as well as what was deducted over the year—including withdrawals, tax and fees. Where possible, you will receive a projection of your balance and potential retirement income based on information available to us as at the date of the statement.

If you're not sure, get in contact with us and we'll take you through it.

If you haven't received your Annual Statement, you can log into your online account to access it. If you can’t access your online account, or you can’t find your Annual Statement online, contact us

Please note: We send paper Annual Statements in batches from the second week of September through to November 2022. If you haven’t received your paper Annual Statement, it may be because we haven’t sent it to you yet.

You can log into your online account to change your details.

For more information, visit Go Digital and update your details.

Two calculations are included in your statement. They’re both used to measure performance, but they measure different things.

Standard option (time-weighted) rate of return measures the compound growth rate of one unit of money over an evaluation period. It removes the impact of cash flows when calculating the return. This makes it ideal for calculating the performance of an investment option or comparing between options on a like for like basis, by assuming there are no transactions in or out of the portfolio.

Individual customer (money-weighted) rate of return measures the compound growth rate of an overall portfolio over an evaluation period. It takes into account both the size and timing of cash flows in and out of an investment portfolio, placing a greater weight on periods when the portfolio size is at its largest. Using a superannuation balance example, cash flows that will differ between customers include:

• switching between options
• starting or stopping contributions part way through the time period¹
• redemptions (e.g. pension payments)
• additional contributions (e.g. salary sacrifice).

Here’s an illustrative example: Let’s imagine a customer made three transactions over a period of two years.

1. On 1 July 2020 they invested $1,000 to buy 1,000 units of Option A at $1.00 (spending $1000).
2. On 1 July 2021 they bought another 1,000 units of Option A at a price of $2.00 per share (spending $2,000).
3. On 1 July 2022 they sold their entire holding of 2,000 Option A after the unit price fell to $1.25 (receiving $2,500).

In this example, our customer lost $500 in their portfolio over the two-year period.

But here’s how the return numbers differ. The money-weighted return is –12.9% p.a., while the time-weighted return is 11.8% p.a.

The time-weighted return was positive, even though our customer lost money in the portfolio.

Why? Because a time-weighted return measures the underlying performance of the units held in the portfolio. (What it doesn’t measure are the actions of the customer buying into or out of those units, or the impact of the size of those actions over the period being measured.)

And if there are no cash flows in or out of the portfolio during the period being measured, the money-weighted and time-weighted rates of return will be the same.

These two methods can give different results, but understanding which one matters to you depends on how you intend to put this information to use.

1. If you want to compare the performance of a fund to other funds, you should look at the time-weighted rate of return.

   Portfolio managers do not control the timing of cash flows into and out of their fund—customers control that according to your cash flow needs—so it is not reasonable to include this effect when evaluating the performance of the fund manager.

2. If you want to see the performance of your retirement account, you should look at the money-weighted rate of return.

For many customers, a money-weighted rate of return is the most appropriate method of measuring the performance of your portfolio because you—the customer—control the inflows and outflows of your retirement balance.