News

New job, same great super fund!

Posted 1 March 2017 9:50am

New job, same great super fund!

What happens next

The legislative changes required to allow PSSap members who have left the Australian Public Service to continue to contribute to PSSap has been passed by the House of Representatives. It is currently awaiting Senate approval. It must be passed by both Houses of Parliament before becoming law.

In preparation, we are updating our systems and processes to facilitate the changes once they are approved. We will update members when you can begin to take advantage of these enhancements.

In the meantime, it’s important to keep your contact details up to date so we can inform you of any future developments. You can check and update your contact details via Member Services Online

As a PSSap member, (including existing preserved members) you will soon be able to keep your PSSap membership if you leave the Australian Public Service.

This exciting change will give you the flexibility to build for retirement while avoiding the costly annoyance of multiple superannuation accounts.

More significantly, you will be able to maintain the advantages of CSC’s 10 year platinum-rated ‘best value for money’ 1 superannuation offering within the trusted government superannuation environment.

Keeping your PSSap membership means:

  • The ability to elect PSSap as your ‘Choice of Fund’ to continue to receive employer super guarantee (SG) contributions from your non-public service employer 2
  • Continued access to CSC’s investment expertise - CSC’s investment team is highly regarded in Australia and globally for its stewardship of an integrated approach to investment risk management
  • The ability to continue to access PSSap’s exclusive lifePLUS cover designed exclusively for PSSap members including a 15.4% super contribution via the income protection benefit (well above most other competitor superannuation funds)
  • Access to CSC’s well regarded products and services such as Education, free single issue and fee for service financial advice with no hidden commissions.

Notes:

1 - As assessed and rated by SuperRatings Pty Ltd (ABN 95 100 192 283) - an independent research house that assesses superannuation funds. The most recent rating being 24 February 2017.

2 - Members must have been a Commonwealth employee or office holder for at least continuous 12 months. They must also be engaged in non-Commonwealth employment in respect of which their employer has a Superannuation Guarantee obligation.

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