Older State Super schemes

SASS members who are former members of the NSW Retirement Fund (NRF) or Local Government Pension Fund (LGPF) may receive part or all of their employer-financed benefit in the form of a lifetime fortnightly indexed pension.

These pensions are generally payable on retirement at or after age 60 or on total and permanent invalidity.

A reversionary pension may also be payable to an eligible spouse on the death of a pension member. Pensions are also payable to the dependent children of the deceased former Local Government Pension Fund members.

If a member with a pension option elects to take part or all of the employer-financed component of their SASS benefit as a pension there is no provision in the legislation that allows them to exchange the pension for a lump sum in the future.

For further information, please refer to SASS Fact Sheet 12: SASS Pension: Your Questions Answered fact sheet or contact us.

Former members of NRF or LGPF

A SASS pension may be payable to a former member of NRF 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 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 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 Super Tax Offset (LISTO) must be paid as a lump sum.