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Commissioner for Superannuation
2010-11 Annual Report

 

Section 4: Appendices

In this section:

Appendix A: Main schemes administered

Section 2A contains some basic information and statistical data about the schemes we administer.

Table A1: Main schemes summary

Scheme Description Coverage
Commonwealth Superannuation Scheme
CSS
  • Partly funded hybrid scheme
  • Established
    1 July 1976
  • Closed to new members on 1 July 1990
  • From 1 July 2008, the members basic contribution rate is 0% or 5% of salary
  • Membership was compulsory for most APS employees permanently appointed before 1 July 1990
  • Full-time temporary and contract employees and full-time statutory office-holders could also join before that date
  • Productivity benefit accruing on behalf of all members since 1 January 1988
Public Sector Superannuation Scheme
PSS
  • Partly funded defined benefit scheme
  • Established
    1 July 1990
  • Closed to new members on 1 July 2005
  • From 1 July 2008, the member contribution rate is 0% or any amount between 2% to 10% of salary
  • The notional employer contribution rate varies according to the member contribution rate
  • Membership was compulsory for all permanent full-time or permanent part-time employees appointed from 1 July 1990, and optional for temporary and casual employees
  • Productivity benefit accruing on behalf of all members since establishment
Public Sector Superannuation accumulation plan
PSSap
  • Fully-funded
    accumulation scheme
  • Established
    1 July 2005
  • The basic employer contribution rate is 15.4% of salary
  • Allows for voluntary member contributions (after tax), salary sacrifice contributions (before tax) and spouse contributions
  • Compulsory for all new ongoing APS employees from 1 July 2005 until 30 June 2006
  • From 1 July 2006, PSSap became the default fund for APS agencies, however members have choice of fund
Defence Force Retirement and Death Benefits Scheme
DFRDB
  • Fully unfunded defined benefit scheme
  • Established
    1 October 1972
  • Closed to new members on
    1 October 1991
  • Member contribution rate is 5.5% of the highest incremental salary for rank plus allowances
  • Membership was compulsory for members of the ADF who enlisted before 1 October 1991
  • Productivity benefit accruing on behalf of all ADF members since 1 January 1988
Military Superannuation and Benefits Scheme
MilitarySuper
  • Partly funded hybrid scheme
  • Established
    1 October 1991
  • The member contribution rate is between 5% and 10% of salary
  • Compulsory for all new entrants to the ADF on and from 1 October 1991
  • Productivity benefit accruing on behalf of all ADF members since establishment

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Scheme membership and transactions*

Table A2.1.1: CSS (including 1922 and PNG) Membership numbers as at 30 June 2011

Type  Amount 
Contributors 15,916
Deferred 9110
Pensioners 114,999
Total 140,025

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Table A2.1.2: CSS (including 1922 and PNG) Annual transactions

Type  Amount ($m) 
Contributions 131
Benefits paid (lump sum) 516
Benefits paid (pensions) 3486

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Table A2.2.1: PSS Membership numbers as at 30 June 2011

Type  Amount 
Contributors 113,224
Deferred 103,092
Pensioners 23,921
Total 240,237

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Table A2.2.2: PSS Annual transactions

Type  amount ($m) 
Contributions 810
Benefits paid (lump sum) 392
Benefits paid (pensions) 515

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Table A2.3.1: PSSap Membership numbers as at 30 June 2011

Type  Amount 
Contributors 76,694
Preserved 33,247
Total 109,941

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Table A2.3.2: PSSap Annual transactions

Type  amount ($m) 
Contributions 719
Benefits paid (Rollovers received) 149
Benefits paid (Lump sum) 86

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Table A2.4.1: DFRDB (including DFRB) Membership numbers as at 30 June 2011

Type  Amount 
Contributors 3743
Preserved 6
Pensioners 57,016
Total 60,765

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Table A2.4.2: DFRDB Annual transactions

Type  Amount ($m) 
Contributions 21
Benefits paid (Lump sum) 102
Benefits paid (Pensions) 1375

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Table A2.5.1: MilitarySuper Membership numbers as at 30 June 2011

Type  Amount ($m) 
Contributors 56,892
Preserved 78,605
Pensioners 8166
Total 143,663

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Table A2.5.2: MilitarySuper Annual transactions

Type  Amount ($m) 
Contributions 687
Benefits paid (Lump sum) 116
Benefits paid (Pensions) 209

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Table A2.6.1: Summary of membership numbers as at 30 June 2011

Type  Number
Contributors 266,469
Preserved/Deferred 224,060
Pensioners 204,102
Total 694,631

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Table A2.6.2: Summary of Annual transactions

Type  Amount ($m) 
Contributions 2368
Benefits paid (Rollovers recieved) 149
Benefits paid (Lump sum) 1212
Benefits paid (Pensions) 5598

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* At the time of publication, these figures had not been audited. More information on the closed 1922, PNG and DFRB schemes can be found in Appendix C.

 

Last updated December 21, 2011