Instead of receiving a withdrawal benefit that is immediately available on resignation or dismissal, you may choose to leave your entitlement in PSS and receive the benefit later.
If you choose to defer (i.e. leave your benefit in the scheme), it can be paid later as a lump sum.
Why have a deferred option?
The deferred benefit is generally of greater value than a benefit immediately available as it will include the employer-financed benefits accrued during your service.
How your benefit is invested
Did you know your employer-financed benefit is adjusted in accordance with movements in the Consumer Price Index (CPI).
Accessing your benefit
Find out about accessing your benefit at different ages and under different circumstances and what it means for the actual benefit you receive.
Benefits paid before age 60 are subject to Commonwealth benefits or income tax but if paid after they are tax-free and not assessable for income tax purposes.