Author Topic: Australia - PSS Superannuation query  (Read 823 times)

Minion

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Australia - PSS Superannuation query
« on: June 18, 2017, 05:28:38 PM »
So I'm no longer in the PSS and have a lump sum in it that I rolled over from industry ages ago (I left and later rejoined, then left again).

As this $ has no bearing on my defined benefit pension, should I roll this into my Australian Super industry fund? I'm in Balanced currently.

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Minion

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Re: Australia - PSS Superannuation query
« Reply #1 on: June 20, 2017, 08:37:06 PM »
Bump

marty998

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Re: Australia - PSS Superannuation query
« Reply #2 on: June 22, 2017, 05:56:49 AM »
Your PSS would also be an industry fund as well... which fund is it?

Can't give you advice, but at the very least you should check to see if you are paying multiple insurance premiums and cancel the ones you don't want.

deborah

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Re: Australia - PSS Superannuation query
« Reply #3 on: July 10, 2017, 03:22:31 AM »
I don't think that PSS earns all that much, but I could be wrong and your rollover only earns at the earnings rate of the PSS - see http://www.pss.gov.au/investment-and-performance/earning-rates2/ It is not part of the defined benefit and it has to be taken as a lump sum - see https://pss.gov.au/storage/2-PSF13.pdf

You could compare the past earnings rates of the two funds and see if it's better or worse. PSSap does seem to have a good earnings rate, so maybe the PSS is OK too.

Your PSS would also be an industry fund as well... which fund is it?

Can't give you advice, but at the very least you should check to see if you are paying multiple insurance premiums and cancel the ones you don't want.
The PSS is one of the Federal Government DB funds, and as such doesn't have those sorts of things. It closed to new members in 2005.

What are you planning on doing with the pension itself? Would you be eligible to take the DB pension at 55?

Minion

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Re: Australia - PSS Superannuation query
« Reply #4 on: July 17, 2017, 02:15:09 AM »
I am, but not in the APS now and unlikely to be again so the pension will be minimal. Thanks for the comments

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