Your retirement benefits

The State Superannuation Scheme is a defined benefit scheme that provides a pension at a member's normal retirement age (normal retirement benefit). The normal retirement age is 60 for most members, except for female members who elected on joining to retire at age 55.

For members with a normal retirement age of 60, an early voluntary retirement benefit is available from age 55. This pension is payable at a reduced rate providing the member has contributed to the scheme continuously for 10 years.

Members aged 65 and over may choose to exit SSS while still working, and receive payment of or defer their retirement benefits if taken as a lump sum.

If a member resigns prior to their normal retirement age, instead of receiving a lump sum payment(resignation withdrawal benefit), they can choose to leave their entitlement deferred in the scheme until their normal retirement age (optional deferred benefit).

Benefits are also payable in the event of retrenchment, invalidity or death.

A pension entitlement is also available for an eligible spouse or de facto partner on the death of an SSS member or pension member. For more information about the death benefits payable, refer to the sections about:

While SSS is basically a pension scheme, you have an option to exchange (commute) all or part of your pension entitlement for a lump sum at specified time frames. For more information, refer to Commutation or exchanging your pension for a lump sum.

Superannuation benefits are not taxed if you are over age 60 when the benefit is received. If you are under 60 at the time your pension is paid, tax may be payable. 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.