Financial resolutions come in all shapes and sizes. Spend less. Save more. Pay down debt. But like many resolutions, they often fade away before reaching the finish line.
One resolution that can make a significant difference over time is taking a closer look at your superannuation.
For many Australians, super is their largest long-term investment and a key part of their retirement income. Spending a few minutes reviewing it each year can help you better understand how your retirement savings are tracking.
A simple starting point is to reconnect with your super and review a few key areas.
Check your most recent super statement
The first step is locating your most recent super statement.
This might mean searching your email for a notification from your super fund, logging into your fund’s website or mobile app, or checking any paper statements you have received.
If you are unsure where your super is held, you can log into myGov, navigate to the ATO, then select Super to view your super fund details.
Your statement provides a snapshot of how your super is performing, including contributions, investment options, fees and insurance.
Step 1. Check your super contributions
Review the contributions recorded in your account and ensure they appear consistent with what you would expect.
Many Australians receive employer super contributions through the super guarantee (SG). Employers are required to contribute a percentage of an employee’s ordinary time earnings into their super fund.
For example, the SG rate was 11.5% in the 2023–24 financial year, increasing to 12% from 1 July 2025.
Your super statement will typically show:
Employer contributions
Any voluntary contributions
The total amount added to your super over the period
Understanding these contributions can help you see how your retirement savings are building over time.
Otivo’s super contributions tools can also be used to explore how employer contributions may grow over the long term and how changes to contributions can affect projected retirement balances.
Step 2. Review your super investment options
Another important part of reviewing your super is understanding how your money is invested.
Most super funds offer several investment options that differ in their mix of assets such as shares, property, fixed income and cash.
Your statement or online account will usually indicate which option your super balance is currently invested in.
Investment options can vary widely in terms of expected return and risk levels, which means reviewing your current option from time to time can help ensure it continues to align with your circumstances.
Otivo’s super optimiser provides general guidance on how investment options inside super work and how different options may influence long-term retirement outcomes.
Step 3. Check fees, insurance and other costs
Super accounts typically include several types of deductions. These may include:
Administration and investment fees
Contributions tax
Insurance premiums
For most super contributions, a contributions tax of up to 15% applies. Higher-income earners may pay additional tax on contributions.
Many super funds also include insurance cover within the account. This may include:
life insurance (death cover)
total and permanent disability (TPD) cover
income protection (salary continuance)
Insurance held through super can provide financial protection, but premiums reduce the amount invested for retirement. Reviewing the type and level of cover periodically can help ensure it remains appropriate.
Otivo’s insurance optimiser explains how insurance inside super works, the types of cover commonly available and the potential impact premiums may have on retirement balances.
Check whether your super fund is right for you
Super funds differ in fees, investment options, insurance offerings and services.
From time to time, Australians may review whether their current fund continues to meet their needs.
The Australian Taxation Office provides a YourSuper comparison tool, available on the ATO website, which allows users to compare many MySuper products.
This comparison tool ranks funds based on fees and net investment returns. However, when reviewing super funds, other factors may also be considered, including:
Insurance options
The range of investment choices
Available services and support
Consider additional super contributions
Some Australians also explore whether making additional contributions to super may help grow their retirement savings over time.
Additional contributions can occur in several ways, including:
Salary sacrifice arrangements with an employer
Personal contributions made directly to a super fund
Superannuation is designed as a long-term savings system, which means any benefits from additional contributions are generally realised over many years.
Otivo’s retirement planning tools allow users to explore how different contribution scenarios may influence projected retirement outcomes.
Give your super some attention
Superannuation often runs quietly in the background of everyday life.
However, taking time to review your super statement, understand contributions, check investment options and monitor fees can help you stay informed about how your retirement savings are progressing.
Even small improvements made today can potentially influence retirement outcomes many years into the future.
© Otivo Pty Ltd AFSL and Australian Credit License 485665. The information provided is current as at June 24 and general in nature only. Results may vary according to personal and financial circumstances. Seek specialist advice if you need guidance above what we offer. We recommend you read the relevant Product Disclosure Statement (PDS) or offer documentation before taking up any financial product offer. Target Market Determinations can be found on the provider’s website.