The Public Sector Superannuation Scheme (PSS) is designed for eligible Australian Government employees.
The following information outlines the general workings of the fund and is not intended for preserved members, pensioners or those with a spouse account or associate benefit.
As a contributing PSS member, your benefit is calculated using the formula:
Your FAS is typically the average of your last three reported super salaries. If you’re employed on a part-time basis, your super salary will be the full-time equivalent. If you’re employed on a casual basis, a notional salary is used. Super Salary and PSS Factsheet
This accrues fortnightly depending on your nominated contribution rate, length of service and work hours.
As a contributing PSS member, you are required to make member contributions each fortnight from your after-tax salary.
These contributions will be a percentage of your fortnightly super salary, and may be pro-rated if you are a part-time employee.
Your contribution rate can be 0% or any whole percent between 2% and 10%.Whichever rate you nominate will affect both your member contributions and your ABM accrual (see How it works).
If you don’t nominate a contribution rate, you will be defaulted to 5%.Your employer contributes 2-3% of your super salary each fortnight you are employed by that designated employer into your PSS account (known as productivity contributions).
Find out more about how your defined benefit super grows, including member and employer contributions.
As a PSS member, you can also access a personal accumulation account through a PSSap membership*. A PSSap account can accept contributions that are not permitted to be paid into PSS, such as salary sacrifice and spouse contributions. You can add extra money to your super by making before-tax and after-tax contributions, or consolidate your super by transferring in money from other super funds.
*Subject to eligibility requirements
As a PSS member, you do not pay any administration, switching or other ongoing fees, as these costs are covered by your employer (or former employer, if you’re a Preserved Benefit member). We do not charge any fees for managing your account. However, fees and costs that relate to the investment performance of your contributions are deducted from investment returns.
As a contributing PSS member you’ll receive automatic Death and Invalidity Cover at no cost.
Generally, you are covered for a benefit based on your entitlement had you worked to age 60. However, if you are a Limited Benefits member, your entitlements do not take into account any prospective service—that is, your benefit is calculated up to your date of retirement or death.
Contributing members can increase the amount they are covered for by purchasing Additional Death and Invalidity Cover (ADIC). Premiums are typically subsidised by your employer.
You can also access flexible Death, Total and Permanent Disablement (TPD) and income protection as a PSSap Ancillary Member.
There are a number of ways you can withdraw your super in retirement, and how you access your money will depend on your specific circumstances. Depending on these circumstances, you’ll be able to claim your benefit as a lifetime fortnightly indexed pension, a lump sum or a combination of both.
Access free education material to help you make the most of your super through member consultations, webinars, videos and seminars, as well as financial planning* to help guide you through your questions.
This factsheet is for contributing CSS or PSS members who want to make super contributions in addition to the member contributions required by their scheme.
This document outlines the fees and costs that you may be charged. It forms part of the PSS Product Disclosure statement.
CSC acknowledges the traditional owners and custodians of country throughout Australia and their continuing connection to land, waters and community. We pay our respect to their Elders past and present, and extend that respect to all Aboriginal and Torres Strait Islander peoples today.
Commonwealth Superannuation Corporation (CSC) ABN 48 882 817 243 | AFSL 238069 | RSE Licence No: L0001397
Any financial product advice on this website is general advice only and has been prepared without taking account of your personal objectives, financial situation or needs. Before acting on any such general advice, you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. You may wish to consult a licensed financial adviser. You should obtain a copy of the relevant Product Disclosure Statement and consider its contents before making any decision regarding your super.
Are you a member of a Defined Benefits scheme?
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The information on this page for Defined Benefit members (CSS, PSS, DFRDB & MilitarySuper) has been moved to a new page on our website.
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