The NSW Government is currently making preparations for the proclamation of the State Authorities Non-contributory Superannuation Amendment Act 2013. When proclaimed, the Act will provide for an additional State Authorities Non-contributory Superannuation (SANCS) accumulation benefit of 0.25% p.a. of salary from 1 July 2013, increasing to 0.50% p.a. of salary from 1 July 2014, to relevant employees* who are active members of the following schemes:
- the State Authorities Superannuation Scheme,
- the Police Superannuation Scheme, and
- the State Superannuation Scheme.
The Trustee has been closely monitoring progress of the legislation and working with the Government and our administrator to identify the actions that need to occur when the legislation is proclaimed, so that we can make the required benefit adjustments to relevant employees' accounts. The Trustee will update the 'Latest News' section of the State Super website to keep members informed of progress in this matter.
*Note this will also include relevant employees who have exited one of the above Schemes after 1 July 2013.