Pension Scheme
Pension Scheme
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Pension Scheme and Superannuants
A Pension Scheme member can receive a percentage of your final salary as a pension for life providing you meet certain rules.
As a Pension Scheme member, you may be eligible for
An indexed fortnightly income when you leave the SA public sector after age 55.
An indexed fortnightly income payable to your spouse upon your death
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How do I maximise my benefit in the Pension Scheme?
Each pay your employer deducts any member contributions from your after-tax pay, and these contributions are paid into your Member Account.
Contributing at your standard contribution rate (averaged over your membership until maturity) may maximise your benefits.
Your standard contribution rate can be found in your annual statement, and is usually between 5% and 7%.¹
In order to receive the maximum employer funded component of your retirement entitlement, you need to average your standard contribution rate for at least 30 years leading up to age 60. For further information please refer to the Pension and Lump Sum Schemes Points fact sheet.
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With the Pension Scheme, you can grow your super by:
Making regular before-tax (salary sacrifice) contributions – this will be directed into a Triple S account.2
Roll-in super from other funds.
Potentially qualify for the Government’s
Co-contribution scheme – this will be directed into a Triple S account.2
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Income Protection and Death & TPD benefits
Income protection
As a Pension Scheme member you’re automatically covered by Income Protection up to age 60. You do not need to do anything to apply for or maintain this benefit.
Death & Total & Permanent Disablement
As a Pension Scheme member you’re automatically covered in the event of your death or total and permanent disablement up to age 60. You do not need to do anything to apply for or maintain this benefit.
If you salary sacrifice into a Triple S account you can apply to purchase additional voluntary Triple S Death and TPD cover. (Conditions apply)
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Super SA aims to keep your fees to a minimum
Administration and investment management fees
The cost of the administration of the Pension Scheme is shared between you and you employer. You pay 30% and your employer pays 70%.
Investment management fees are deducted from your investment earnings before they are deposited in your account, which means you will see a lower investment return, rather than a separate fee deduction.
For more information download the Fees fact sheet.
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Superannuants
If you are former SA Public Sector employee who is in receipt of a pension from the Pension Scheme, or former members of other Super SA administered schemes, who have rolled their funds into the Super SA Income Stream you are defined as a Superannuant.Consumer Price Index (CPI)
Fortnightly incomes are adjusted twice a year, in April and October, to reflect any changes in the Consumer Price Index (CPI), all groups for Adelaide.
| Year | April | October | |||||||
| 2024 | 2.39% | 2.04% | |||||||
| 2023 | 4.39% | 2.37% | |||||||
| 2022 | 2.21% | 4.07% | |||||||
| 2021 | 1.66% | 1.12% | |||||||
| 2020 | 1.50% | -0.69% | |||||||
| 2019 | 0.80% | 0.62% | |||||||
| 2018 | 1.83% | 0.81% | |||||||
| 2017 | 1.12% | 0.46% | |||||||
| 2016 | 0.47% | 0.19% | |||||||
| 2015 | 0.66% | 0.56% | |||||||
| 2014 | 2.05% | 1.05% | |||||||
| 2013 | 1.9% | 0.2% | |||||||
| 2012 | 0.94% | 0.22% | |||||||
| 2011 | 1.20% | 2.65% | |||||||
| 2010 | 1.41% | 1.33% | |||||||
| 2009 | 1.01% | 0.59% |
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Pension Scheme CPI increase - how is it calculated?
Pension increases in the Pension Scheme are based on the movement in the Consumer Price Index (CPI). The Australian Bureau of Statistics (ABS) provides the official adjustment figures by measuring inflation over a period of time. When the figures are released by the ABS, Super SA uses the All Groups Index for Adelaide to determine what adjustments need to be made.
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PS SuperannuantsPS Superannuants is an association of public sector retirees/employees providing representation and advocacy for members of the SA Public Sector superannuation schemes.
Eligibility for membershipFor many years membership of the Association was restricted to members of the Pension Scheme but has, in recent years, been opened up to members of other SA Public Sector schemes. The Association speaks for all its members, those retired and those still at work.
Anyone receiving, or eligible to receive, a lifetime pension from the Pension Scheme, or members of other SA Public Sector superannuation schemes can join the Association.
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When did the scheme close to new members?
The Pension Scheme closed to new members on the 30th of May 1986.
The scheme is a defined benefit scheme. This means that most member will receive a defined pension in retirement. The amount of the pension will depend on the year of contributory membership and final salary.
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What is my fortnightly pension indexed to?Your fortnightly pension is adjusted twice a year, in April and October, to reflect changes in the Consumer Price Index (CPI), all groups for Adelaide.
April 2021 - CPI adjustments and half yearly income statement
July 2021 - PAYG payment summary
October 2021 - CPI adjustments and half yearly income statement and confirmation of entitlements form3 -
How does tax work within the Pension Scheme?
The Pension Scheme is an untaxed fund.
This means that the 15% contributions tax is not paid until the pension or benefits are paid.
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What happens when I’m ready to retire and claim my super?
If you retire from the SA public sector at or after age 55 you'll receive a fortnightly pension.
Like employment income, your fortnightly pension is subject to income tax. Each year Super SA will send you a PAYG Payment Summary - superannuation income stream, to help you complete your tax return.
You should provide us with your Tax File Number to make sure that you're not taxed at the highest rate.
Within three months of the date your pension commences, you have the option of exchanging part or all of your fortnightly pension for a lump sum payment. This is called commutation and is calculated by giving you a set lump sum amount (determined by your age) for each $1 of annual income you choose to forego.
It’s important you are aware that any part of your Rollover Account that was subject to preservation before it was rolled into the Pension Scheme will still be subject to Commonwealth preservation rules.
This means that, depending on your age and circumstances, you may have to wait longer to access this portion of your entitlement.
Use the Benefit Projector in the secure member area of this website to see estimate your potential retirement entitlement.
Before claiming your entitlement you might want to consider the benefits of investing in the Super SA Flexible Rollover Product or the Super SA Income Stream, so that your money can keep growing as you transition to and throughout your retirement.
You should also consider getting some financial advice to help you make decisions right for your circumstances.
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What happens when I resign and leave the SA public sector?
If you resign from the SA public sector before age 55 you have the following options:
- preserve the fortnightly income that you've accrued to your date of resignation in the Pension Scheme, providing you have more than 120 months of contributory membership
- take the balance of your Member Account(less tax) in cash and preserve a lump sum benefit of your Employer Component, plus a productivity entitlement, in the Pension Scheme
- roll your preserved lump sum entitlement into a complying super fund, such as the Super SA Flexible Rollover Product
It’s important you’re aware that any part of your Rollover Account that was subject to preservation before it was rolled into the Pension Scheme will still be subject to Commonwealth preservation rules. This means that, depending on your age and circumstances, you may have to wait longer to access this portion of your entitlement.
Once you reach age 55 you will have access to your fortnightly pension, or if you choose, a lump sum payment.4
Use the Benefit Projector in the secure member area of this website to estimate your potential resignation entitlement.
You should also consider getting some professional financial advice to help you make decisions right for your circumstances.
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What are my options if I take a separation package and leave the SA public sector?
The retirement age in the Pension Scheme is age 55.
Members over age 55 who exit the scheme receive a retirement entitlement while members who receive a Separation Package before age 55 receive a resignation entitlement.
Any entitlements taken in cash will be subject to applicable tax rates which are determined by your Commonwealth Government preservation age.Over 55
If you are over 55 and take a Separation Package you will receive your retirement fortnightly pension and the balance of your Rollover Account.
It’s important you are aware that any part of your Rollover Account that was subject to preservation before it was rolled into the Pension Scheme will still be subject to Commonwealth Government preservation rules. This means that, depending on your age and circumstances, you may have to wait longer to access this portion of your entitlement.If you wish to claim your unpreserved entitlement in a lump sum or fortnightly pension, you must apply within three months of finishing work. It is important to note that entitlements taken in cash are subject to applicable tax rates which are determined by your Commonwealth Government preservation age.
You should also consider getting some professional financial advice to help you make decisions right for your circumstances.
Over 55 Between 45 and 55
If you are between 45 and 55 you can either:
- take your entitlement as a lump sum within three months of accepting your Separation Package
- take your entitlement as a fortnightly pension (with the option to commute within the first three months)
- preserve your money in the Pension Scheme, to be claimed between age 55 and 60, subject to applicable tax rates
- roll your lump sum entitlement into a complying super fund, such as the Super SA Flexible Rollover Product
If you wish to claim your unpreserved entitlement in a lump sum or fortnightly pension, you must apply within three months of finishing work. It is important to note that entitlements taken in cash are subject to applicable tax rates which are determined by your Commonwealth Government preservation age.
You should also consider getting some professional financial advice to help you make decisions right for your circumstances.
Between 45 and 55 Under 45
If you are under 45 you can either:
- take your entitlement as a lump sum within three months of accepting your Separation Package
- preserve your money in the Pension Scheme, to be claimed between age 55 and 60, subject to applicable tax rates
- roll your lump sum entitlement into a complying super fund, such as the Super SA Flexible Rollover Product
It’s important you are aware that any part of your Rollover Account that was subject to preservation before it was rolled into the Pension Scheme will still be subject to Commonwealth Government preservation rules. This means that, depending on your age and circumstances, you may have to wait longer to access this portion of your entitlement.
If you wish to claim your unpreserved entitlement in a lump sum or fortnightly pension, you must apply within three months of finishing work. It is important to note that entitlements taken in cash are subject to applicable tax rates which are determined by your Commonwealth Government preservation age.
You should also consider getting some professional financial advice to help you make decisions right for your circumstances.
Under 45
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1 For more information, refer to the Points fact sheet.
2 For more information about Triple S, refer to the Triple S PDS.
3 The confirmation of entitlements letter is mailed to Superannuants living outside South Australia
4 Tax maybe payable.
2 For more information about Triple S, refer to the Triple S PDS.
3 The confirmation of entitlements letter is mailed to Superannuants living outside South Australia
4 Tax maybe payable.
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Want to learn more about Super SA’s Pension Scheme?
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The superannuation schemes administered by Super SA are exempt public sector superannuation schemes and are not regulated by the Australian Securities and Investments Commission (ASIC) or the Australian Prudential Regulation Authority (APRA). Super SA is not required to hold an Australian Financial Services Licence to provide general advice about a Super SA product. The information in this publication is of a general nature only and has been prepared without taking into account your objectives, financial situation, or needs. Super SA recommends that before making any decisions about its products you consider the appropriateness of this information in the context of your own objectives, financial situation, and needs, read the Product Disclosure Statement (PDS), and seek financial advice from a licensed financial adviser in relation to your financial position and requirements.