Income Protection Insurance (Triple S)
At Super SA, Triple S Income Protection Insurance covers you if you can’t work due to injury or illness.
Eligible members under the age of 653 (including casual employees who apply for cover - conditions apply) may receive a fortnightly income of:
- up to 75% of your notional salary1 for up to 24 months
- or in the case of casual employees with IP cover - up to 12 months, or
- until employment with the SA state government ends for any reason - whichever comes first.
While you’re receiving an Income Protection benefit, you’ll also receive a 9.5% Contribution Replacement Benefit (CRB)2 paid into your Triple S account.
How does Income Protection Insurance work?
As a Triple S member, you generally receive Income Protection cover if you are:
• An active Triple S member working full-time or part-time, and
• Aged under 65.³
Casual employees are not automatically covered for Income Protection cover, however they can apply.
Who isn’t eligible for Income Protection Insurance?
Not all members are eligible for Income Protection insurance4, including:
- A person who is employed for a specified time period and remunerated by a fee, allowance or commission (e.g. members of boards and committees)
- Members aged 65 or older (or a member who turned 60 prior to 3 September 2018, unless they apply for cover)
- Triple S members whose employment with the SA state government has ended
- Triple S members who have made a fund selection to another super fund (other than to Super SA Select)5
- Contributory members of the Lump Sum Scheme, Pension Scheme, South Australian Ambulance Superannuation Scheme and Police Pension Scheme who salary sacrifice or have their Government co-contributions paid into Triple S. Please refer to the Income Protection benefits relevant to your scheme.
- Spouse members
- A member to whom an insurance benefit has been paid on account of invalidity or terminal illness under any state government super scheme.
I’m a casual employee. Do I receive Income Protection Insurance?
Not automatically, however, you can apply for Income Protection cover.
You will be required to provide health and medical information at the time of application (limitations may apply). Please note casual employees working less than nine hours per week are not eligible to apply for Income Protection Insurance.
Noting that the maximum period benefits are payable to a casual employee is 12 months. Please refer to the Applying for IP Insurance section of the Income Protection insurance fact sheet for further information.4
Is there a limit to the salary used to calculate my Income Protection benefit?
If you joined Triple S on or after 3 September 2018, you’re automatically provided with Income Protection cover, based on your notional salary and capped at the Automatic Acceptance Limit (AAL) of $122,000.
If you earn more than $122,000, you may apply to increase your level of cover above the AAL (limitations may apply).4
NB: There is a maximum salary cap on the notional salary of $584,000. Members who are approved for cover above the AAL will be covered for IP based on their notional salary up to the maximum cap.
What is the cost of my Income Protection Insurance?
The cost of IP premiums depend on your salary, age and waiting period length.
This amount is automatically deducted when employer contributions are paid to your Triple S account. This doesn’t affect your take-home pay.4
Refer to the Income Protection insurance fact sheet for premiums charges for your age and waiting period length.
What’s the waiting period for Income Protection Insurance?
The default waiting period for IP Insurance is 30 calendar days.
The waiting period usually begins from when you cease work due to your incapacity.
You also have the option to change your waiting period to 90 days, which will lower the premiums you pay.4
How can I change the Income Protection Insurance waiting period?
1 Notional salary is the salary used to calculate IP Insurance benefits. For full-time employees, this is the salary they were receiving immediately prior to being incapacitated. For members who were not immediately before the commencement of the incapacity, in full-time employment, notional salary is the superannuation salary averaged over a period of up to three years, prior to incapacity. The notional salary may be subject to the Automatic Acceptance Limit (AAL) and Maximum Salary Cap. For more information please refer to the Triple S PDS.
2 The CRB is 9.5% of your fortnightly IP benefit which is paid into your Triple S Account.
3 Employees who were already 60 years of age on or before 3 September 2018 can apply for IP Insurance. When you apply, you will be required to provide health and medical information (limitations may apply). For more information please refer to the Triple S PDS.
4. For more information about insurance, please refer to the Triple S PDS.
5. If a member has more than one SA Government employer and has not exercised fund selection in respect of all employers, any Income Protection held will continue on the same terms and conditions in respect of the employer continuing to contribute to Triple S.