Knowing how to check your super balance is the first step to taking control of your super and ensuring you’re doing everything you should be doing to maximise your retirement savings.
How to Check My Super Balance
There are a number of ways to check your super balance, such as contacting your super fund by phone, logging into your account online or checking your superannuation statement.
Whichever way you decide to check your super balance, it’s important to take note of the date of balance and understand that your balance will change daily as a result of market movements.
Let’s take a look at each of these ways to check your super balance in Australia.
How to Check Your Super Balance By Phone
If you want to check your superannuation balance by phone, you will need to find the contact phone number for your superannuation website. This can be done by visiting your super fund’s website and navigating to the contact page.
Prior to calling your super fund, you should ensure you have your superannuation member number ready, as well as your personal details, such as your full name, date of birth, address and possibly even your employer company name.
How to Check Your Super Balance Online
To check your super balance online you will need your login details that would have originally been supplied by your superannuation provider.
Your login details will generally include your username, a password and possibly your date of birth or a security question or code.
If you have not been provided with login details, you may need to register with your superannuation provider, before you can check your super balance online.
How to Check Your Super Balance on Your Statement
You can check your super balance on your superannuation statement. Your superannuation statement will either be sent to you in the post, via email or both.
Superannuation statements will often only be issued every six months or on an annual basis. Therefore, while you can check your super balance on a statement, it is unlikely that your statement will provide you with a current balance, unless you check your statement on the day that it is issued.
How to Check Your Super Balance on MyGov
To check your super balance in MyGov, login to your MyGov account and navigate to the super section within the portal.
This will give you information relating to your superannuation account such as your balance, concessional contributions, non-concessional contributions, and carry-forward contribution amounts.
Should I Check Other Super Information?
Checking your superannuation balance is one thing, but you may also want to check other details associated with your super, such as insurance information, death benefit nominations, contribution details, preservation components and investment options, to name a few.
Once you have obtained all of this information, you can consider whether the features of your super account are aligned with your needs and retirement goals, or whether any changes should be made.
How Do I Check Who My Superannuation is With?
If you do not know where your superannuation is held, there are a number of ways to find out which super fund your super is held with. Firstly, you can look for a statement by doing a search of your emails, or checking to see if you have a paper-based copy in your files.
If looking for a statement proved fruitless, your next option would be to contact your previous employer and ask them which super fund they were paying mandatory employer contributions into.
If you are still unable to find your superannuation, you can look for your lost super through the ATO here. This is how you can claim any unclaimed super from the ATO.
What Do I Do Once I’ve Checked My Super Balance?
If you’re checking your super balance, you’re obviously becoming aware of the importance of your superannuation and what it means for your retirement. Taking control of your super now and obtaining professional financial advice in relation to it can greatly influence how soon you can retire and your quality of life throughout retirement.
Our financial planning firm, Toro Wealth, specialises solely in helping 50 to 70 year-olds optimise their financial position in the lead up to retirement. If you’re interested in learning more about our service and cost, click here.
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