See how we stack up

Whether you are you already a member or the PSSap, or are you thinking about which super fund to join, it’s important that you know the key features of the scheme.

As an Australian Government employee in most cases you will automatically become a member of the PSSap, unless you choose to join a different fund. On this page you will find information to help you compare us to other super funds and make an informed choice about where to keep one of your most valuable investments – your super.

Use these tools to find out about the PSSap’s key features:

• Quick overview
• Fundamentals fact sheet
• Fee comparison
• The PSSap quick guide
• PSSap Product Disclosure Statement

Quick overview

The PSSap is a ‘profit for members’ fund, which means that after fees and taxes are deducted all investment earnings are returned to members.

In brief, the PSSap provides you with:

• a 15.4% employer contribution
• competitive returns
• comprehensive death and disability insurance cover at competitive rates
• all profits returned to members (after fees, expenses and taxes are deducted from investment earnings)
• very competitive fees (your employer also helps with fees); and
• no commissions paid to financial planners.

As a PSSap member, you also have access to:

• low-cost home loans and banking services through Members Equity Bank; and
• licensed financial planners through State Super Financial Services. 

SuperRatings

The PSSap has received a platinum rating from SuperRatings for two years running.
Over 200 funds were analysed for investments, fees and charges, administration, advice, governance, insurance, and overall benefits to members. The PSSap rated as above average across these areas and was one of only 30 to receive a platinum rating.
Click here to view the SuperRatings Fundamentals Fact Sheet, which is SuperRatings’ summary information and their ‘take’ on the PSSap features and services.

SelectingSuper awards the PSSap an AAA rating

Triple A (AAA)  is the highest quality rating from SelectingSuper and marks the PSSap as an exceptional quality superannuation fund.
In assessing the PSSap, SelectingSuper examined a number of  the PSSap’s features including organisational strength, administration, communications, investment mix, analysis and processes, insurance, extra services, and fees and charges.

Read SelectingSuper’s overview of the PSSap

ASFA Communications Awards

The ASFA Communications Awards aim to raise the overall standard of communication in
the super industry and recognise those who have excelled. ARIA and the PSSap were recognised in the Member Reporting Communication category, taking out the Excellence award for the PSSap
interactive web-based member statement. The statement was also awarded the prestigious
Lightning Rod award for best use of electronic media.

PSSap Quick Guide

The PSSap Quick Guide provides you with a snapshot of the PSSap. It outlines the types of issues you need to consider when looking for a super fund.

Fee comparison

 

Fee Type	PSSap Trustee Choice	Typical retail super fund
Establishment fee The fee to open your investment	NIL	NIL
Contribution fee The fee for each contribution made to your account	NIL A buy spread applies*	Up to 4.5% for each contribution received.
Withdrawal fee	NIL A sell spread applies*	NIL
Termination fee	NIL A sell spread applies*	NIL
Management costs
Management fee The fees and costs for managing your investment.	0.65%	2.20% In addition, for accounts with a balance of less than $10,000 a fee of $7.30 is charged each month.
Investment switching fee The fee for changing investment options	NIL for the initial nomination of investment options if made within 30 days of joining the PSSap. NIL for the first two (2) switches in any financial year. Additional switches are $20 each A buy-sell spread applies*	NIL

The buy and sell spread for PSSap Trustee Choice is 0.255

Case study

Using the figures in our fee comparison table, and assuming the same contribution and investment returns, a 20 year-old member with a starting wage of $25,000 and a retirement age of 60 would accumulate an extra $57,377 in super benefits with the PSSap than with the median retail fund identified in the PSSap’s research.

 

These amounts should be used as a guide only, as they are not predictions of actual outcomes. The comparisons show projected outcomes, applying today's PSSap fees and typical fees of retail master trusts in PSSap's research. Differences in fees and investment earnings may change in the future and this would alter the outcome. This information is current at February 2008 and may be revised if further information becomes available.

If you would like further information, please use the AppleCheck report, where you can compare the PSSap with other super funds.

PSSap Product Disclosure Statement

Reading our PDS will help to answer questions you may have regarding your super benefit now and in the future. It, in addition to our Fact sheets, is a great place to learn more about the PSSap’s features and benefits.
Click here to go to our online version of the PDS or here to receive a hard copy in the mail.