The Public Sector Superannuation accumulation plan (PSSap)
Description
- Fully funded, accumulation plan
- Established 2005
Coverage
- Basic employer contribution of 15.4%
- Allows for voluntary member (after tax) contributions, salary sacrifice (before tax) contributions and spouse contributions
- At 1 July 2005 to 30 June 2006, if you were permanently employed and had no interest in the PSS or CSS, you were required to be a member of the PSSap. It was optional for all non-ongoing employees who did not have an interest in the CSS or PSS. Your employer may have entered into an agreement to offer choice of fund from 1 July 2005 this would have been specified in an agreement at that date.
- At 1 July 2006 with the introduction of Choice of Fund to all employers (with the exception of those employers above) joining the PSSap became optional as long as you did not have an interest in the CSS or PSS. Therefore if you were a member of the PSSap and wanted to opt out of the fund you could do so from 1 July 2006.
- The PSSap continues to be the default fund for most employers where a member does not have an interest in the CSS or PSS.
Administration
Certain PSSap member and employer services are done by Pillar Administration.
Website
Last updated February 10, 2012