More options for members
More options for members
Most South Australian public sector employees have been required to have their employer contributions paid to Triple S, Super SA’s tax-deferred fund.
However, from 30 November 2022, eligible South Australian public sector employees will have the option to direct their South Australian Government employer super contributions to a complying super fund of their choice. This is called Fund Selection.
So what is changing?
We’re giving members more choice. From 30 November 2022, eligible members of Triple S and Super SA Select (Super SA's taxed super fund), including most new South Australian public sector employees, will have the option to direct their SA Government employer contributions, in respect of a particular employer, to a complying super fund of their choice.
Read the Significant Event Notice
In May 2021, the Statutes Amendment (Fund Selection and Other Superannuation Matters) Act 2021 was passed to enable the South Australian public sector workforce to choose their super fund.
Similar changes have already been introduced elsewhere in Australia. This change responds to community expectation and brings the South Australian Government in line with the national norm.
We believe this change is an important step in maximising outcomes for our members now and in the future.
Triple S is the default fund
Super SA’s Triple S fund will continue to be the default fund for SA Government employer contributions. This means:
- South Australian public sector employees who are already members of Triple S will remain as members of Triple S unless they make a Fund Selection
- most new South Australian public sector employees automatically become Triple S members to receive their employer contributions.
- if an employer can no longer contribute to an employee’s selected fund, and the employee does not return a Fund Selection Notice within 14 days of being provided the form, the employer contributions (including any contributions in arrears) will be made into Triple S.
Fund Selection is voluntary
Current Triple S or Super SA Select members don’t need to take any action if they would like their employer contributions to continue to be paid to Triple S (or Super SA Select).
Making a fund selection
To make a valid fund selection, the employee will need to complete a Fund Selection Notice (available 30 November 2022) and lodge it with their employer. If an employee has multiple South Australian Government employers they will need to complete a Fund Selection Notice for each employer for which they wish to make a Fund Selection.
An employee will be able to make subsequent Fund Selections (including back to Triple S or Super SA Select), however employers are not obligated to accept more than one fund selection every 12 months.
Other new options for Super SA members
In addition to Fund Selection, there are a range of changes coming into effect on 30 November 2022 that are providing more options for Super SA members.
Read more about our Limited Public Offer, partial withdrawals and full or partial transfer changes.
We’re here to answer any questions you have; contact us today.