Established to replace the Commonwealth Superannuation Scheme (CSS), the Public Sector Superannuation Scheme (PSS) has provided superannuation benefits for Australian Government employees since 1990. The scheme, closed to new members since July 2005, is a defined benefit fund with a formula used to determine the member’s final benefit.

How Advice SA can help PSS members

The PSS scheme offers a generous retirement benefit and if you are one of the 60,000 contributing or 90,000 deferred members you have an opportunity to optimise this benefit prior to retirement. This critical opportunity should be done with the guidance of an adviser with an in-depth understanding of the scheme.

Advice SA advisers have extensive experience guiding PSS members through the complex fund mechanisms, including optimising their Accrued Benefit Multiple (ABM), determining the best time to access their benefit, assessing the impact of any redundancy on a PSS benefit, and matching the most appropriate benefit option to their needs amongst other issues.

Common areas we provide advice to PSS members include:

  • Retirement planning
  • Contribution optimisation to maximise the PSS retirement benefit
  • Assessing the best time to claim the retirement benefit
  • Determining which PSS benefit option is best suited to the client’s circumstances
  • Redundancy impacts on a PSS entitlement
  • Managing the tax consequences associated with PSS
  • Additional contribution considerations such as salary sacrifice
  • Investment option guidance for deferred members
  • Age Pension

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