Your retirement benefits

Contributing members of PSS are generally eligible for a retirement benefit on leaving employment from the age of 55 onwards.

An early voluntary retirement benefit is payable between the ages of 55 and 60, and a normal retirement benefit is payable on retirement after reaching 60.

If you are aged 65 and over, you may choose to exit PSS while still working and receive payment of or defer your retirement benefits.

While PSS is basically a pension scheme, at certain times you have an option to commute all or part of a pension entitlement to a lump sum.

Benefits tax is not payable on superannuation benefits paid when you are over the age of 60. If you are under 60 when your pension is paid, you may have to pay tax. Please see STC Fact Sheet 3: Taxation for more details.

If you have any outstanding debts on your account, such as a contributions surcharge tax debt, no TFN tax debt, outstanding contributions or an early release debt, these must be settled before any benefits are paid.

It is important to note that your ability to access your Basic Benefit and if applicable Additional Employer Contributions (AEC), Commonwealth Government co-contributions and Low Income Superannuation Contribution amounts are governed by your preservation age.