The PSSap offers you a low-cost, long-term way to save for your retirement.
It is an accumulation fund which means that the money you and your employer contribute, along with any money you transfer from other funds will ‘accumulate' with investment earnings to form your retirement benefit.
Your employer contributions |
+ Any member (personal) contributions |
+ Any transfers from other funds |
+ Investment earnings (which can be negative) |
- Fees and charges |
|---|
- Insurance premiums if applicable |
- Taxes |
= your retirement benefit |
When you retire, you can take your PSSap retirement benefit as a lump sum.
Your interest in the PSSap is valued in units.
Contributions made to the PSSap and other amounts transferred in are used to buy units in the respective investment option(s) you have chosen.
We keep a record of all units you hold and call this Your account. You can estimate the balance of Your account on any business day by multiplying the number of units you hold in each investment option by the relevant sell unit price(s).
Unit prices will fluctuate in line with investment returns (which may be negative) and will generally be published on our website on each business day.
Generally, fees, expenses, costs and taxes are reflected in the unit price. Where fees are payable directly from Your account (for example, insurance premiums and switching fees), units may need to be sold to the extent required for payment.
Find out more about how we calculate unit prices, and how they apply to your transactions in our product disclosure statement.
Generally, fees, expenses, costs and taxes are reflected in the unit price(s) relevant to your investment option(s).
However there are some fees (for example, insurance premiums and switching fees), that will be deducted directly from Your account.
PSSap pays no commissions to financial planners, and employers also reduce costs for members by contributing towards the cost of administrating the Scheme – this is in addition to the contributions your employer makes to your super.
Find out more about fees, costs and taxes in our product disclosure statement .
