Generally, State Authorities Superannuation Scheme (SASS) member benefits are paid as lump sums. However, SASS members who are former members of the NSW Retirement Fund (NRF), Transport Retirement Fund (TRF), Local Government Pension Fund (LGPF) or Railway Super Account (RSA) (Ten and a penny scheme) may be eligible to receive all or part of the employer-financed component of their SASS benefit as an indexed fortnightly pension. These pensions are payable for life and indexed for inflation.
An indexed pension may also be paid to:
- an eligible spouse following the death of a SASS member who was originally a member of NRF or LGPF
- an eligible spouse following the death of a SASS pension member who was originally a member of LGPF or RSA
- an eligible spouse following the death of a SASS pension member who was originally a member of NRF or TRF, and elected to take a pension with a reversionary pension entitlement on retirement
- a dependent child, until the child reaches 16 years of age, or up to age 25 if the child continues to be a full-time student in an approved course of study
For further information, please refer to the SASS Pension: Your Questions Answered fact sheet
Former members of NRF, TRF or LGPF
A SASS pension may be payable to a former member of NRF, TRF or LGPF in a number of instances:
- Members of these funds (as listed in the table below) retain an option to take all or part of their SASS employer financed benefit (EFB), and additional benefit where applicable, as a pension on retirement.
- The member can nominate the number of benefit points to be used in the calculation of the pension.
- Members of the NSW Retirement Fund (NRF) and Transport Retirement Fund (TRF) can also choose on retirement whether a reversionary spouse benefit will be payable in the event of their death. A reduced pension will be payable where an NRF or TRF member elects for a reversionary spouse benefit to be payable.
- The remainder of the benefit i.e. the member's personal account balance (contributor financed benefit), the basic benefit and any applicable Additional Employer Contributions (AEC), Commonwealth Government co-contributions and Low Income Superannuation Contributions (LISC) must be paid as a lump sum.
|Closed Fund||Pension Option||Spouse Pension||Children's Pension|
|NRF||On retirement at or after turning 60, on total and permanent incapacity, or on death where there is an eligible spouse.||Member may choose reversionary pension. The reversionary spouse pension is 62.5% of the member pension||Not payable|
|LGPF*||On retirement at or after turning 60, on total and permanent incapacity, or on death where there is an eligible spouse.||Reversionary pension is always available. The reversionary spouse pension is 62.5% of the member pension.||Payable|
|TRF||On retirement at or after turning 60 or on total and permanent incapacity. No pension option is available to a spouse on the death of a contributing member.||Member may choose reversionary pension. The reversionary spouse pension is 62.5% of the member pension.||Not payable|
Former members of RSA
Former members of RSA also have a pension option, but that option is calculated based on the benefit points which were contributed for prior to their transfer to SASS on 1 June 1990.
Benefit points contributed since transfer on 1 June 1990 contribute towards an employer-financed lump sum benefit which is paid in addition to the member's personal account balance, Basic Benefit and where applicable any Additional Employer Contributions (AEC), Commonwealth Government co-contributions and Low Income Superannuation Contribution (LISC) amounts.
|Closed Fund||Pension Option||Reversionary Spouse Pension||Children's Pension|
|On retirement at or after turning 60 for men and 55 for women. On total and permanent incapacity or partial and permanent incapacity at or after age 58 or under age 58 for members not qualified for SASS Additional Benefit. Spouse pension may be payable on death.||Small reversionary pension may be payable.||Not payable|
To assist you with the planning of your bills around your fortnightly pension payments State Super has created a pension pay day calendar, which you can download at your convenience.
Your pension will be adjusted each year in accordance with the percentage movement in the Consumer Price Index (CPI) (All Groups Index).
Communications to our pension members
If you are under age 60, State Super will send you a PAYG payment summary, which you will need to include with your annual income tax return. For more information, please refer to PAYG payment summary.
All pension members will receive a Pensioner Details Confirmation form in October each year that you must complete and return to Mercer Administration within four weeks. If you do not return the form within the required timeframe and we are unable to contact you, your pension may be suspended.
Completing this form each year reduces the risk of pension overpayments and helps State Super locate potential reversionary beneficiaries.
State Super has a responsibility to protect the assets held in trust for current and future beneficiaries. This includes implementing necessary procedures to ensure, as far as possible, that pensions are paid only to those entitled to them and cease to be paid when a pension member passes away.
If your pension is suspended, it will be reinstated when the administrator, Mercer, receives a completed Pensioner Details Confirmation form. You will receive pension arrears for the period that your pension was suspended.
If you will be away from home during October in any year, it is important that you let us know in advance by contacting Customer Service on 1300 652 113.
Change of contact or banking details
To minimise the risk of overpayment, State Super will suspend pension payments if any correspondence sent to a pension member is returned unclaimed and we are unable to contact the member. It is therefore important that you notify State Super of any changes to your contact details, including your residential address and telephone numbers.
If your contact details have changed, please complete Pension Form 301: Change of contact details. If your banking details have changed or will soon change, please complete STC Form 207: Change of personal and banking details.