Super in focus

Online tracking helps PSSap members plan

To check if you’re on track to achieve the lifestyle you want when you finish work, use the online PSSap super projector. This tool will help you see what all your hard work has achieved. You’ll need an access number to use this service. If you don’t have one, or you’ve misplaced it, call us on 1300 725 171 and we can give you one over the phone.

Small contributions add up to big savings

Anything extra you can put aside now will make a difference to your savings when you decide to leave work. You can make extra contributions out of your pre-tax salary if you have a salary sacrificing arrangement, or you can make voluntary contributions out of your after-tax pay. To find out more about contributing a little extra, see the Contributions fact sheet.

Investment choice most important in the final stretch

You can choose how we invest your super, and the best option for you depends on where you’re at in life. At this stage you will want to think carefully about how your investment strategy is going to affect your final savings. Changing investment strategies: making the right choice has more information on the different investment options, and you can change your investment strategy by filling in the Investment choice form.

Insurance and beneficiary updates keep members covered

All members receive automatic death, total and permanent disability (TPD) and income protection insurance options for your stage of life (if you are eligible). You can apply to change your death and TPD cover at any time and we recommend checking this at least once a year to make sure your level of cover matches your life circumstances. Life changes such as marriage, moving from permanent to casual work or having children can change your insurance needs, so it’s important to take time to check your insurance and update this if necessary.

When reviewing your insurance, you should also check your beneficiary details to make sure these are valid and have not expired. Your beneficiaries are the people who’ll receive your benefit if you die, and these details must be updated every three years to remain valid. You can find out more about insurance options and nominating beneficiaries in the Insurance section online.

Lump sum super creates investment options

We pay your super to you as a lump sum – once you receive it, you may choose to invest it in an account-based pension. You’ll need to work out what you’d like to do with your super lump sum so it’s a good idea to get advice from a financial adviser and make sure you consider all your options.

For more information, see the Withdrawing your super fact sheet.

Don’t get caught out: provide your tax file number

While you don’t have to give us your TFN, your before-tax contributions will be taxed at the top marginal rate if you don’t. We also won’t be able to accept certain types of contributions.

So have a look at your Annual Member Statement to see if we have your TFN, and if we don’t, you can give it to us by filling in the Provision of tax file number form.

Super strategies target upcoming retirement

You can get more information about the PSSap and the right super strategies for this stage of your life by visiting the Lifestages page online.

“‘It’s really exciting and rewarding to look at the amount I’ve saved over my time in the workforce and what my hard work has achieved. Now all that’s left is for me to kick back, relax and enjoy my new life.’ – Deb, 58”