An Active member is defined as a member who is either:
- contributing from their after-tax or before-tax salary (salary sacrifice) and/or
- receiving Superannuation Guarantee (SG) contributions and/or
- on Leave Without Pay (LWOP) and has notified Super SA of this and/or
- employed on a Casual basis and has received Superannuation Guarantee contributions in the last 12 months
An example of an accumulation scheme is Triple S, the current scheme open to SA public sector employees. This style of scheme operates in a similar way to a bank account. Each pay day your employer forwards all contributions, and Super SA banks them into your Superannuation Accounts.
Adjusted Taxable Income
Your Adjusted Taxable Income is made up of:
- your taxable income plus
- reportable fringe benefits plus
- surchargeable contributions plus
- part of any “golden handshake” you may receive when you leave employment
These are contributions made into your Scheme from your net, or after-tax, salary.
The combination of asset classes that make up each investment option. Eg
Australian and International Equities (shares)
These are investments in companies listed on the Australian or international stock exchanges. Dividends provide income although they can't be guaranteed. Share prices can fluctuate dramatically and can frequently be negative, which makes them high risk but there's potential for high capital growth over the long term.
Should you die, your entitlement will be paid to your surviving partner. Should you not have a partner, the entitlement will be paid to your Estate.
For a person to be recognised as a partner, they need to be declared a putative spouse under the Southern State Superannuation Act 2009 (Triple S, Flexible Rollover Product, Income Stream) or the Superannuation Act 1988 (Pension Scheme and Lump Sum Scheme).
Legal Personal Representative
You can choose to nominate a legal personal representative (estate). Your legal personal representative is the person appointed as the executor or administator of your Estate, following your death. By nominating your legal personal representative, your death benefit will be paid to your Estate and distributed according to your Will and the Statutes.
Before-tax income is your income before PAYG tax is deducted by your employer, also called gross income, or pre-tax income.
Bonds are securities that pay interest over a fixed period. The amount of interest (the coupon) is fixed for the life of the bond and is based on the amount lent to the bond issuer and the credit quality of the bond issuer. The principal amount of the loan is repaid at maturity.
Cash (asset allocation)
These are investments in assets that can be cashed in quickly. A stable investment suitable for investors with a low risk tolerance. It includes bank bills, overnight cash and short-term deposits.
You Co-Contribution Account comprises:
- amounts you have received from the Commonwealth Government as part of the Co-Contributions scheme
- investment earnings
Your Co-Contribution Account is subject to fluctuations in investment markets and Commonwealth Government preservation requirements.
Commonwealth Government preservation rules
The Commonwealth Government preservation rules are rules established by the Commonwealth Government which relate to the conditions under which you can claim your super entitlement. These rules apply to:
- funds rolled over into your Super SA scheme/product
- funds in your Co-Contribution Account,
- all funds in Super SA Select and Flexible Rollover Product accounts.
Any part of your Rollover Account that was subject to preservation before it was transferred to your Super SA scheme/product will remain subject to Commonwealth Government preservation requirements.
Your preservation age depends on your date of birth:
|Date of birth||Benefit preserved until age|
|Before 1 July 1960||55|
|1 July 1960 to 30 June 1961||56|
|1 July 1961 to 30 June 1962||57|
|1 July 1962 to 30 June 1963||58|
|1 July 1963 to 30 June 1964||59|
|After 30 June 1964||60|
Preserved entitlements are preserved until you:
- have retired permanently from the workforce having reached Preservation Age
- leave an employment arrangement after age 60
- reach age 65
- become totally and permanently disabled
- you die
Complying super fund
A complying super fund qualifies for concessional tax rates, like the Super SA Flexible Rollover Product.
This is a reduced rate of tax. Super is taxed at lower rates than many other forms of investment.
Concessional contribution cap
A concessional contribution cap is an annual limit legislated by the Federal Government to curb the amount of before-tax contributions that a member can make into their superannuation. The cap for the 2017-2018 financial year is $25,000.
While the cap applies to taxed funds only, amounts contributed to an untaxed fund (such as Triple S, Pension Scheme, Lump Sum Scheme, Parliamentary Scheme or Judges' Scheme) count towards a member's annual concessional contribution cap if the member also has superannuation with a taxed scheme or fund.
Contribution splitting allows active Triple S members to split their employer and salary sacrifice contributions with their spouse within Triple S. It doesn’t provide the option to split to other super funds.
Defined Benefit scheme
Super SA administers two closed, defined benefit schemes, the Pension Scheme and the Lump Sum Scheme.
Members' entitlements under these schemes are defined or calculated on specific criteria.
Diversified strategies - growth (asset allocation)
These are investments in a diverse range of assets, for example, private companies and infrastructure. Returns tend to fluctuate and can be negative. These assets carry a high level of risk.
Diversified strategies - income (asset allocation)
These are investments in higher yielding fixed income securities, and include investments in the form of loans to companies and emerging markets. It also includes alternative investment strategies that are expected to benefit from the more volatile financial market environment (referred to as 'absolute return'). Returns tend to fluctuate and can be negative.
In relation to a deceased member, an eligible child/student is:
a. (i) a child of the member or
(ii) a child in relation to whom the member had assumed parental responsibilities and who was cared
for and maintained, wholly or in part, by the member up to the date of the member’s death
b. (i) under the age of 16 years or
(ii) between the ages of 16 and 25 years and in full-time attendance at an educational institution recognised by the Board for the purposes of this definition
Eligible service date
This is either the date you first commenced continuous service with the SA public sector or a “date joined employer”, transferred with a rollover from a previous employment. Your eligible service date is used to determine your taxation liability on your benefit entitlement.
Entitlements Superannuation Salary (ESS)
Your Entitlements Superannuation Salary (ESS) is your full-time equivalent annual salary at the time of application for entitlement. While you only pay contributions based on your substantive salary, if you have been in receipt of a higher duties allowance continuously for 12 months or more when you apply for your entitlement, your ESS will be based on the higher salary.
Please note that if you are on a fixed term appointment (including a Curriculum Guarantee position), you should refer to the “Contracts of Employment or Acting Arrangements lasting longer than 12 months” fact sheet for more information on your retirement entitlements.
Employer Account (Triple S)
Your Employer Account includes:
- Employer contributions
- Salary sacrifice contributions
- investment earnings
- administration fees
- insurance premiums
- switching fees
Your Employer Account is subject to fluctuations in the investment markets.
Employer contribution rate
Your employer contribution rate is the amount your employer is contributing to your super. Your employer is obliged to contribute 9.5% of your superannuation salary, known as the Superannuation Guarantee. If you are contributing 4.5% or more of your gross superannuation salary, deducted from your after-tax salary, your employer contribution will be 10%. If you are no longer employed or are on leave without pay (LWOP) your employer will not be contributing.
In terms of application for payment in relation to a deceased member, when the member does not have a partner and/or eligible children (where applicable) their super and insurance benefits (if any) are distributed in accordance with their Will.
Extrapolate means to estimate a future figure based on known data, assuming that the estimated figure follows logically from the known data.
This is relevant to Pension and Lump Sum Scheme members in calculating any future or insurance benefits.
Fees - Defined Fees
A fee is an activity fee if it relates to costs incurred by Super SA that are directly related to an activity of
(i) that is engaged in at the request, or with the consent, of a member, or
(ii) that relates to a member and is required by law;
and those costs are not otherwise charged as an administration fee, an investment fee, a buy-sell spread, a switching fee, an exit fee, an advice fee or an insurance fee.
An administration fee is a fee that relates to the administration or operation of the scheme/product and includes costs incurred by Super SA that relate to the administration or operation of the scheme/product; and are not otherwise charged as an investment fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee.
A fee is an advice fee if it the fee relates directly to costs incurred by Super SA because of the provision of financial product advice to a member by Super SA or another person acting as an employee of, or under an arrangement with Super SA and those costs are not otherwise charged as an administration fee, an investment fee, a switching fee, an exit fee, an activity fee or an insurance fee.
A buy-sell spread is a fee to recover transaction costs incurred by Super SA, in relation to the sale and purchase of the scheme's/product's assets.
An exit fee is a fee to recover the costs of disposing of all or part of members' interests in the scheme/product.
The indirect cost ratio (ICR) for an investment option offered by the scheme/product is the ratio of
the total of the indirect costs for the option, to the total average net assets of the scheme/product attributed to the investment option.
A fee is an insurance fee if it relates directly to either or both of the following:
(i) insurance premiums paid by Super SA in relation to a member or members of the scheme/product;
(ii) costs incurred by Super SA in relation to the provision of insurance for a member or members of the scheme/product; and
the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit that is based on the performance of an investment rather than the realisation of a risk and the premiums and costs to which the fee relates are are not otherwise charged as an administration fee, an investment fee, a switching fee, an exit fee, an activity fee or an advice fee.
An investment fee is a fee that relates to the investment of the assets of the scheme/product and includes fees in payment for the exercise of care and expertise in the investment of those assets
(including performance fees) and costs incurred by Super SA that:
(i) relate to the investment of assets of the entity; and
(ii) are not otherwise charged as an administration fee, a buy-sell spread, a switching fee, an exit fee,
an advice fee or an insurance fee.
A switching fee is a fee to recover the costs of switching all or part of a member's interest in the scheme/product from one class of beneficial interest in the scheme/product to another.
Fixed Insurance Cover
Fixed Insurance provides members with a set lump sum insurance entitlement at a fixed price, in the event of their death or total and permanent disablement, up to the age of 65.
Effective 13 November 2014, Triple S members can no longer purchase units of Fixed Death and Total & Permanent Disablement (TPD) Insurance, Flexible Rollover Product investors can no longer purchase units of Fixed Death and TPD or Fixed Death Only Insurance, and Triple S Spouse members cannot purchase units of Fixed Death Only Insurance.
Members with Fixed Insurance retain their existing level of Fixed cover.
Further details can be found in the insurance section and in the insurance fact sheet for each scheme/product.
Fixed interest (asset allocation)
These investments are usually in the form of loans to governments or companies who pay a fixed rate of interest for the term of the loan. Returns tend to be better than cash over the long term, but lower than property and shares.
Returns can fluctuate and can be negative, as these investments are valued daily and can change depending on movements in interest rates and general market conditions. Bond prices typically move in the opposite direction to interest rates (i.e. higher interest rates lead to lower bond prices and vice versa).
Inflation Linked Securities
These investments are similar to those described for the Fixed Interest asset class. However, they have the additional feature of being linked to a measure of the general level of prices in the economy, such as the Consumer Price Index (CPI). Returns can fluctuate and can be negative.
- High Growth
- Socially Responsible
- Capital Defensive
Super SA Select members have a choice of Balanced or Cash.
Investment Choice 'Switching Policy'
The unit price to be applied to a switch between investment options will be the next determined unit price after the date the written election is received by Super SA. A signed and dated Investment Choice form requesting a switch needs to be received by Super SA by 5pm on a Friday evening or 5 pm on a Tuesday evening (or the previous day(s) in the event of a public holiday) to be processed using the next determined unit price.
These times may be varied occasionally for operational reasons. Members will be notified via the Super SA website when this occurs.
Triple S Scheme
Members and spouse members of Triple S who do not choose an investment option will be invested in the “Balanced” option.
Members and spouse members may choose to invest all of their accounts in a single investment option.
Members and spouse members may elect to switch the balance of their accounts to another investment option or to switch all future transactions (all contributions, rollovers in and fees or insurance premiums deducted) into a second investment option from the date of the next determined unit price. No more than two investment options in total per member can be maintained at any one time.
Flexible Rollover Product
Investors of the Flexible Rollover Product who do not choose an investment option will be invested in the “Balanced” option.
Investors may choose to invest all of their accounts in a single investment option.
Investors may elect to switch the balance of their accounts to another investment option or to switch all future transactions (all contributions, rollovers in and fees or insurance premiums deducted) into a second investment option from the date of the next determined unit price. No more than two investment options in total per investor can be maintained at any one time.
Super SA Income Stream
Investors of the Super SA Income Stream who do not choose an investment option will be invested in the “Balanced” option.
Investors may choose to invest in one investment option or two investment options. Where an investor chooses two investment options, they may elect from which investment option their regular income payments and/or any withdrawals will be made. Fees are deducted in proportion across both investment options.
Investors may elect to switch between investment options or change the investment option from which regular income payments will be made. No more than two investment options in total per investor can be maintained at any one time.
Lump Sum Scheme
Members of the Lump Sum Scheme who do not choose an investment option will have their Member Account and Rollover Account (if any) invested in the “Growth” option.
Members may elect to switch between investment options, however, the Member Account and Rollover Account (if any) must be invested in a single investment option.
Super SA Select
Members of Super SA Select who do not choose an investment option will have their funds invested in the “Balanced” option. Members can choose to invest their super in either the Balanced or Cash option and can elect to switch between these two investment options at any time.
Earnings on money invested in super that is reflected by the movement in the unit price of each investment option.
Investment time horizon
The minimum length of time needed to reach the earning potential of your investment.
Limitation of entitlement
If you cease employment due to temporary or permanent disability or die due to a pre-existing medical condition, the benefits you or your family receive may be limited.
You would have been advised in writing by the Board at the time you joined your Scheme of the nature of these limitations. Please contact Super SA for further clarification.
Low Income Superannuation Tax Offset (LISTO)
The Low Income Superannuation Tax Offset (LISTO) is a Federal Government tax offset that provides a super savings boost of up to $500 a year for members earning less than $37,000 a year. This offset only applies to taxed schemes (Super SA Select).
Member Account (Triple S)
Your Member Account includes regular and voluntary after-tax member contributions and investment earnings.
Your Member Account is subject to fluctuations in investment markets.
Member contribution rate
Your member contribution rate is the percentage of your superannuation salary that you have elected to contribute from your salary after tax into Triple S.
Marginal tax rate
In Australia a progressive scale of tax is applied to personal income. The marginal tax rate describes the highest tax scale relevant to your income.
A Non-active member is a member who has ceased employment or who does not meet the requirements of being an Active member. Non-active members also include preserved members, who are not active and have had no employer contributions for 12 months or more.
Non-active member (Pension Scheme)
You are a Non-active member if you have reduced your member contribution rate to 0%. When you're a Non-active member, your employer makes Superannuation Guarantee (SG) contributions into Triple S on your behalf.
While you're a Non-active member, you are not entitled to special benefits from the Pension Scheme if you suffer permanent disablement or die. You are only entitled to the amount you have accrued to date. Because your SG contributions are being made to Triple S, you are entitled to Standard Insurance cover under Triple S, which means that you will receive two units of Standard cover in the event that you are totally incapacitated for work, or die under age 60. To maintain your Total and Permanent Disablement or Death entitlements under the Pension Scheme you will need to maintain at least the minimum member contribution rate (3%).
Non-commutable Income Stream (NCIS)
A non-commutable Income Stream (NCIS) is one which cannot be taken as a lump sum payment while you are still working. You can only access your funds through regular pension payments. Generally, this type of account is not accessible as a lump sum until you reach retirement.
Notaries Public are specialists who are legally recognised to witness the signing of documents. Their services are different from Justices of the Peace in that their services are recognised and accepted by foreign courts and authorities. They can attest witness, or certify, a large range of documents, including:
- the preparation of Wills
- attestation of signatures
- administration of oaths
- Affidavits/statutory declarations
- authentication of true copies of documents
- Powers of Attorney
Notional Member Account (Lump Sum Scheme)
Your Notional Member Account is the amount you would have accrued had you contributed at the rate of 6% throughout your contributory membership.
Notional salary is the salary used in the calculation of Income Protection benefits. For full-time employees, this is the salary immediately prior to being incapacitated. For part-time and casual employees, notional salary is the salary averaged over a period of up to three years, prior to incapacity. It is increased in line with CPI every six months (where the benefit commences on or after 3 September 2018) and may also be subject to the Automatic Acceptance Limit (AAL) and Maximum Salary Cap (applicable from 3 September 2018).
Pay As You Go (PAYG) is the tax system currently in effect in Australia.
PAYG Payment Summary - superannuation income stream
A summary of earnings and taxes for each financial year. Each year, Super SA sends a PAYG payment summary - superannuation income stream to Income Stream members under age 60 and superannuants so they can accurately complete their tax return.
Personal Superannuation Contribution Deductions
A Personal Superannuation Contribution Deduction (PSCD) is a tax deduction that can be claimed in a member's personal tax return for any after-tax contribution they have made to their taxed superannuation scheme. Some conditions and restrictions do apply.
This is the part of your super entitlement which cannot be cashed until you meet the preservation rules for the Super SA scheme/product and/or Commonwealth Government preservation rules.
The Projection Calculator can be used to estimate your final entitlement when you retire. The Projection Calculator can be found in the Knowledge Centre on the Super SA website.
Product Disclosure Statement (PDS)
A Product Disclosure Statement (PDS) provides information about each scheme, including fund features and services, fees and costs, death and disability benefits and insurance premiums, investment option objectives, risks and likely returns.
Proof of Identity
Proof of identity confirms that you have correctly identified yourself on documentation submitted to Super SA. It also helps protect you from identity theft.
Property (asset allocation)
These are investments in Australian unlisted property trusts and propety securities listed on the Australian Stock Exchange. It includes retail, office and industrial property. There's potential for these property assets to provide moderate to higher returns over the long term, however the value of the assets can fluctuate dramatically and there can be negative returns.
Public Sector Employee Superannuation Scheme (PSESS)
Some members of the Lump Sum Scheme may also have a Public Sector Employee Superannuation Scheme (PSESS) entitlement, which forms part of their Employer Component.
The PSESS scheme was introduced by the then State Government on 1 January 1988 in lieu of a pay increase for SA public sector employees. It represented a payment equal to 3% of your salary, which was paid into your PSESS Account. PSESS closed on 30 June 1992.
Purchased leave is an initiative designed to enable employees to exchange an agreed reduction in salary for extra periods of leave each year. For the purposes of assessing super, an employee who purchases leave will be considered as a part-time employee for the duration of the agreement. To find out how this will affect your super see the Purchased Leave fact sheet for your Scheme.
Expected returns on a particular investment option.
Expected risk on a particular investment option.
Your super contributions invested with other funds can be transferred to your particular Super SA scheme or product. This is called “rolling over” your funds. However, funds rolled in cannot be rolled out while still employed in the SA public sector. If you have not rolled over funds from another account you will not have a Rollover Account.
Restricted non-preserved amounts
Restricted non-preserved amounts are benefits that employees can be paid on their termination of employment. They can also be paid at the time that preserved benefits can be paid. The amount of your preserved and non-preserved benefits should be detailed on your fund’s Annual Statement.
If you require more information about preservation details please contact Super SA.
Personal before-tax salary contributions made from your salary before Pay As You Go (PAYG) tax is deducted. These amounts are classified by the Tax Office as employer payments and therefore reduce your annual salary for taxation purposes. Salary sacrifice contributions are credited to your Employer Account in Triple S or Select.
An annual before-tax contribution cap applies to taxed funds and contributions made into an untaxed fund may impact you if you have superannuation with a taxed fund.
The secure login of the Super SA website provides you with access to all your super information, including your personal details, annual statements, account balances and your contribution history. You need your Super ID to log in, found on your Annual Statement.
Active Triple S members are able to create a Triple S account for their spouse/ putative spouse. Once established, a Spouse Account will accept contribution splits, personal after-tax member contributions, eligible spouse contributions, Commonwealth government co-contributions or rollovers from complying super funds. Employer contributions cannot be made into a Spouse Account.
Your spouse is the person to whom you are legally married.
For a partner to be recognised as a putative spouse of a member, they need to satisfy the requirements under the relevant superannuation act (Southern State Superannuation Act 2009 for Triple S, Super SA Select, Flexible Rollover Product and Income Stream; Superannuation Act 1988 for Pension Scheme, Lump Sum Scheme). Conditions apply.
In general terms, the person must be living with their partner as husband and wife de facto (or with the distinguishing characteristics of a married couple in the case of same sex couples) and have either:
- lived continuously with them for a period of three years, or
- lived with them for an aggregate period of three out of four years, or
- a child born of the relationship of whom both partners are the natural parents.
A person will also be recognised as a putative spouse of the member if in a registered relationship with the member (within the meaning of the Relationships Register Act 2016).
Standard Contribution Rate (Pension & Lump Sum Schemes)
The Standard Contribution Rate in the Pension Scheme is between 5% and 7% of your Superannuation Salary. In order to receive the maximum Employer-financed benefit from your super, your Member Contributions over your total membership must average your Standard Contribution Rate or higher.
In the Lump Sum Scheme the Standard Contribution Rate is generally 6%.
Standard Insurance cover
Two units of Standard cover is provided to eligible Triple S members when they join the Fund. Members may also apply for additional units of Standard cover. Standard cover provides cover for death and total and permanent disablement up to age 65.
Super ID number
Your Super ID is your identification number. You should quote this number when you contact Super SA. You need your Super ID to gain access to the secure login of this website.
Super Rebate (Income Stream)
The superannuation tax offset (also known as a super rebate) is available to investors between preservation age and age 60 and is 15% of the taxable income stream payment (ie total income stream payment less the tax free amount).
Superannuation Guarantee (SG) (Triple S and Super SA Select)
The Superannuation Guarantee (SG) is the minimum level of super entitlement that must be provided to you by your employer and is currently set at 9.5% of your gross superannuation salary and is set to rise to 12% over the next few years.
A member of the Pension Scheme who is currently receiving a fortnightly pension.
Superannuation lump sum payment
A lump sum payment from a super fund which has components that may be subject to different tax treatment.
Superannuation salary (Triple S)
Your superannuation salary is determined in accordance with the Southern State Superannuation Act 2009 and the relevant enterprise agreement or award under which you are employed. It comprises:
- what you are paid for the hours you are normally required to work
- allowances (including leave loading) received which do not represent a payment for an expense you incurred
Contact your pay office to find out what allowances are included or excluded as part of your superannuation salary.
This was the tax imposed by the Commonwealth Government on your surchargeable contributions once your income reaches certain levels. The surcharge was reduced to zero on 1 July 2005. Any surcharge liability accrued prior to 1 July 2005 will still be payable.
A taxed fund or scheme has tax deducted throughout membership. Super SA Select, SA Ambulance Service Superannuation Scheme, Super SA’s Flexible Rollover Product and Income Stream are taxed funds.
Tax File Number (TFN)
Your Tax File Number (TFN) is the identification number allocated to you by the Tax Office.
To ensure your entitlement is taxed at concessional rates, you must provide your Tax File Number (TFN) to Super SA. If you do not, you may pay tax at a higher rate.
Total and permanent disablement
To qualify for a total and permanent disablement benefit you must satisfy the Super SA Board that your incapacity for all kinds of work is 60% or more of total incapacity and is likely to be permanent. Conditions apply.
Triple S preservation rules
An entitlement preserved in your Member and Employer Account cannot be paid in cash until you meet one of the following conditions:
- you reach the age of 55 (subject to applicable tax rates)
- you become totally and permanently disabled
- you entered Australia on a temporary resident visa which has expired or been cancelled and you have permanently left Australia
- you die
There are two types of unit:
- For Triple S members, a measure of insurance cover. The more units of insurance you have the more cover you have
- For all Fund members, super contributions are used to purchase investment units, which represent a share of the underlying investments
Unrestricted non-preserved amounts
Unrestricted non-preserved amounts are super monies that can be taken at any time because they meet all criteria for release.
The Triple S, Lump Sum and Pension Scheme rules only allow you to withdraw unrestricted non-preserved amounts when you leave employment with the SA public sector.
Have tax deducted when super is claimed. The Triple S, Lump Sum and Pension schemes are untaxed funds.
USI (Unique Superannuation Identifier)
When you roll in funds it’s important that the right USI or Unique Superannuation Identifier is associated with the roll in to streamline the process.
This is easy if you’re using the Super SA Easy Roll In Form because all you need to do is work out which Super SA scheme/product you’re in and tick the right box in Section 3, and the USI is already listed.
If your other fund is doing the roll in for you, you need to ensure that they are using the right USI number. The USIs for Super SA products are listed below:
- Triple S Scheme: 40651037780001
- Super SA Select: 98513958004001
- Flexible Rollover Product: 11635839852001
- Lump Sum Scheme: 27987187927002
- Pension Scheme: 27987187927001