Your benefits - at a glance

PSS benefits generally are made up of three parts:

  • member component - your fortnightly contributions plus earnings.
  • productivity component - a fortnightly contribution by your employer plus earnings
  • employer financed component - a defined amount paid by your employer at retirement. The amount will depend on your length of membership, your salary and your rate of contribution.

More information on how your benefits are calculated and the different components can be found in the PSS Super Book.

Our At Work for You workshops explain the main features of the PSS.

Glossary »

How does the PSS work?

The PSS is a defined benefit scheme. This means the benefits payable to you are defined in advance according to a formula. This formula is based on your years of membership in the PSS, your contribution rates to the Scheme and your Final Average Salary.

You will know before you retire that you have a defined amount invested and available for your retirement.

Planning for your future has never been easier.

How much can you contribute?

In most cases, you can choose how much super you contribute into the PSS.

You have the flexibility to choose a contribution rate of between 2% and 10% of your salary (as a whole percentage). Or you can choose not to contribute at all. We understand that your financial needs can vary and the PSS allows you to change your contribution rate at any time.

Your contributions are deducted from your net salary and sent to us each fortnight to invest.
Some special provisions apply to persons on certain categories of leave without pay (LWOP). For more information see The facts about Leave Without Pay (LWOP)

How much does my employer contribute?

Your employer will contribute between 13% and 21% of your superannuation salary to your PSS super. This will depend on such things as the rate of contribution that you choose and whether or not you work part time.

There is also a restriction on how much your employer will contribute for a ten year period of your membership (not necessarily a continuous period or the first ten years).

How can I calculate my retirement benefit?

You can estimate your retirement benefit by using the i-Estimator in Member Online Services.

Managing your money

The Scheme's key objective is to maximise members' real returns while minimising risks.

The PSS has more than $10 billion under management. These funds are divided into investment portfolios and looked after by investment managers who have expertise in particular asset classes, such as shares, property or debt.

Please refer to Investments for more information.

Sound investment strategy

The PSS investment strategy is based on four integral principles:

1 Taking a global view

Investing only in Australia can limit potential returns. ARIA searches for investment opportunities in both established and emerging international markets.

2 Long-term versus short-term

It is important to maintain a balance between short- and long-term investment. Our investment strategy is based on a long-term outlook rather than short-term expectations, but we are cognisant of the desirability of reducing short-term volatility.

3 Diversification

Your Scheme's investments are spread over all major asset classes to spread risk.

4 Structuring to capture market returns

While the overwhelming majority of your Scheme's investments are actively managed by specialist investment managers, these managers generally operate within investment constraints designed to ensure that their returns capture at least most of the return delivered by the market in which they operate.

Need to find out more?

It is important that you understand your rights to contribute and receive benefits from the PSS.

If you require additional information, please contact us or call an Information Officer during business hours on 1300 000 377.