Your CSC 2021-22 Annual Statement
Stay up-to-date with when your Annual Statement will be available, and what information it will provide.
Your Annual Statement is a key way to check in on your super and review how it's tracking. At a glance you'll see your account balance, insurance cover (where applicable), any contributions you may have made, and a benefit estimate.
Annual Statements will be sent out from September 2022, so in preparation we encourage you to log into your online account and update your details.
So that we can seamlessly reach you, check you have provided:
- a personal email address that only you use;
- a mobile phone number; and
- a mailing address.
While you're there, op-in to Go Digital to receive your Annual Statement instantly via email, and save on paper. It's quick and easy.
Annual Statements 2022 timeline
Check that your contact details are up-to-date and opt-in to receive your Annual Statement digitally. It's quick and easy—and while you’re there, consider opting to Go Digital to receive your Annual Statement.
Although it is the end of the Financial Year, there’s still time to make additional personal contributions. Submit additional personal contributions prior to 24 June 2022 to ensure they are allocated in this Financial Year.
23 July 2022 is your last chance to update your contact details and preferences. You can do this by logging into your online account.
Whether you prefer electronic or post, Annual Statements and Digital Statement Summaries will be mailed progressively from the second week of September 2022. They’ll be sent out in staggered lots, so don’t panic if you haven’t received it right away.
"Superannuation isn't about how much money you make on paper at any point in time, but how much real wealth you're able to realise as purchasing power in retirement1."
Chief Investment Officer, CSC
Frequently asked questions
How will I receive my 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.
What’s included in my Annual Statement?
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.
What should I do if I don't understand something on my Annual Statement?
What should I do if I think my Annual Statement may be incorrect?
What should I do if I haven't received my Annual Statement?
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.
How do I change my contact details?
Standard option (time-weighted) rate of return vs individual customer (money-weighted) rate of return. What’s the difference?
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).
1For example, returning to work, retiring, changing superannuation funds
Show me an example of time-weighted and money-weighted rates of return.
Here’s an illustrative example: Let’s imagine a customer made three transactions over a period of two years.
- On 1 July 2020 they invested $1,000 to buy 1,000 units of Option A at $1.00 (spending $1000).
- On 1 July 2021 they bought another 1,000 units of Option A at a price of $2.00 per share (spending $2,000).
- 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.
Which one should I use: time-weighted or money-weighted rates of return?
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.
- 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.
- 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.
1The method used to calculate fund returns for comparison by regulators and rating agencies is the time weighted return. However, no individual customer receives this return because each customer controls your own individual cash flow decisions, which determines your actual (money weighted) return.
Investment performance is subject to market volatilities and past performance is not an indicator of future performance.