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Our call centre hours are changing

At Super SA our members and staff are always our priority. Understandably, many members feel concerned about superannuation and the continuation of critical services.

We are currently experiencing an unprecedented number of member enquiries across all channels.

To manage this situation and assist members across all contact channels, we are revising the opening hours of our call centre phone lines. From today, Tuesday March 24th, phone lines will close at 3pm daily to allow staff to respond to email enquiries and return member calls.

We strongly encourage members to email with non-critical matters, to enable those members requiring critical services to get through on the phone. We’re working very hard to respond to every member who has contacted us and we’re prioritising processing transactions, member payments and critical services such as investment switches.

You may experience longer than usual delays in reaching us or hearing from us.  We thank you for your understanding and patience during this challenging time. We are committed to keeping you informed through regular updates on our website.

You can access self service functions such as checking your balance and investment switching and maintain your contact details, through the member portal. You’ll need your client ID to log on, which can be found on your annual statement.

Cheques no longer accepted

At Super SA, members and staff are our priority.

In response to COVID-19 (Coronavirus) we have reviewed our current cheque handling processes. As a result, we no longer accept or send cheques or money orders.

Instead, payments need to be made electronically via  Electronic Funds Transfer (EFT).

 

If you need to send funds to Super SA to

  • Make a deposit or contribution
  • Pay a Family Law fee, or
  • Make a roll in from a SMSF

you will need to do this via EFT.

 

EFT payments

To make your payment please

  • contact Super SA via email at supersa@sa.gov.au. If you don't have access to email, call us on (08) 8207 2094 or 1300 369 315 (regional), and
  • ensure you include your Account ID, surname and initial when you make the payment via EFT.

Please note that due to very high call and email volumes to the Member Centre wait times are longer than usual.

 

If you are expecting to receive funds from Super SA

such as:

  • A Roll out from your Super SA account to a SMSF. In this situation you will need to provide bank details and a bank statement from your Self Managed Super Fund’s bank account.
  • A payment directly to you and we do not have your bank details on file. In this situation you will need to provide your bank details and a copy of your bank statement so we can make your payment via EFT. 

The option to have EFT payments made to you is already available on most of our forms.

 

 

F.A.Q. – Financial Markets Volatility

The current market movements, due to the spread of coronavirus (COVID-19) has prompted an increase in member enquiries.

We understand market volatility can be unsettling. Consistent with our member-centric approach, at Super SA we are taking all reasonable steps to meet enquiry demands. It’s important to us that we provide our members with timely and up-to-date information to help you make informed decisions.

 

What’s happening with the stock exchange?

 

The stock market is experiencing some market volatility due to the spread of coronavirus (COVID-19).You can read a full report, published by Super SA’s investment manager Funds SA here.

 

Are the markets impacting my superannuation balance?

 

The short answer is that it's likely to effect your superannuation balance. Funds SA is responsible for the investment of funds under management and although portfolios are not immune to the volatility stemming from share markets, members investment options remain well diversified. Super SA’s asset mix, including high quality bonds, property, private equity and other unlisted assets, have helped to lessen the gyrations and deliver a smoother return profile for members.

 

How do I know what investment option is right for me?

 

Super SA cannot provide you with personal financial advice. When choosing an investment option it’s important to understand your individual risk profile and time horizon.  Use the What type of investor am I? calculator in the Knowledge Centre section of the website to find out what level of risk you are comfortable with. Further details of this can be found in the Investment Fact Sheet.

To find a financial adviser contact the Financial Planning Association of Australia.

 

What support can Super SA provide?

 

Super SA is responsible for the administration of the superannuation schemes and can assist you with the following;

  • Holding seminars outlining important information about saving for retirement
  • Facilitating registration and logging onto the self-service member portal
  • Helping you understand investment switches
  • Lodging super roll in, roll out and investment switches
  • Providing tools and resources to assist you in making informed choices about your superannuation.

 

How can I check my superannuation balance?

You can view your current super balance* via the 24/7 online member portal. Not registered? Please use these instructions to begin logging in.

 

*Due to unit pricing procedure the current online account balance represents the market valuations 3 business days prior, . 

 

How do I check and change my personal details?

 

Online: You can check and update your personal details by logging into the member portal on the Super SA website here or by calling Super SA on 1300 369 315.

Form: You can change your personal details by completing a form which can be found here.

 

I'm close to retirement. How do I find out more about my super?

We encourage members to find out as much as you can about your super as well as your options for retirement.

Here are some things to think about:

  1. You might like to consider attending a free My Retirement seminar geared towards your Super SA scheme to get a good understanding of the options available to you.
  2. Have you considered getting professional financial advice? You may wish to choose your own professional financial adviser. If you need help you can contact: Financial Planning Association of Australia.

 

Can I get help with my finances?

Super SA cannot provide financial advice. A financial adviser can provide you with information about your financial options and choices, including your super, and help you to identify and start working towards your financial goals. To find a financial adviser contact the Financial Planning Association of Australia.

 

I need to know what to do with my super with the markets as they are.

Super SA cannot provide financial advice. A financial adviser can provide you with information about your financial options and choices. To find a financial adviser contact the Financial Planning Association of Australia.

 

 

Should I move my investments into cash?

Unfortunately Super SA cannot provide investment advice. We remind members that investment returns can be volatile in the short-term and an important discipline is to remain focussed on the long-term with a diverse portfolio.

It’s not easy to time entry to, or exits from, markets. Taking information from Funds SA market commentary; selling out of more risky options (i.e. those options with larger allocations to assets such as shares and property) and switching into less risky options (such as cash and options with higher allocations to fixed interest) can be costly over the longer term as it effectively locks in the losses which result from poor investment markets.

A financial adviser can provide you with information about your financial options and choices. To find a financial adviser contact the Financial Planning Association of Australia. 

 

 

How do I switch my investment options?

If you’re sure you want to switch your investment options once you've done your research and sought the advice you need, please head to the website and read the switching process for your scheme:

Please note that the investment switches unit price is calculated on the market valuation at Close of Business on the day the application is received. This generally takes 3 business days to be processed, however the unit price is secured from the day of the application.

 

 

Why does it take 3 days for my investments to switch?

 

It’s quite common for Superannuation funds to take a few days for an investment switch to take effect. Super SA's investment manager Funds SA need to calculate the changes to the unit price which reflects changes in the value of the underlying investments, this generally takes 3 business days. The unit price at the date of your switch reflects the market valuation at the close of business of the day you requested the switch. That means if you submit the application on business day 1, you’ll receive the unit price as at business day 4 which reflects the close of market on business day 1.

For example: You request to switch your investment option on Monday 2 March 2020, this means your switch will become effective from Thursday 5 March 2020. The unit price used to switch your investments on Thursday 5 March will reflect what happened in the market on Monday 2 March when you made the request. If the markets rise or fall between 3 March and 5 March, this does not affect the unit price for your switch. 

When requesting a switch you cannot see what the effective unit price will be as this is not provided until 3 business days later.

 

 

Triple S is unique

Did you know that Triple S's uniqueness might benefit you?

Triple S is a constitutionally protected (untaxed) fund. This means that tax is deducted from your super entitlement when it is withdrawn from the scheme and your concessional contributions are taxed differently to taxed funds (such as Super SA Select and APRA regulated funds). Different contribution caps may apply.

Dascia Bennett, Super SA Chief Executive, explains more in this video.

 

To find out more about how your super in Triple S is taxed differently read the Tax fact sheet.

To find out more about different contributions caps read the Grow Your Super fact sheet.

Before you make any changes to your super, we strongly recommend you speak to a licensed financial planner.

SA Bushfire recovery information and appeal

Have you been impacted by the recent bushfires in Cudlee Creek or Kangaroo Island?

If you need assistance or information about recovery after these fires please visit www.dhs.sa.gov.au/recovery

On the website, you can select the incident that has impacted you and find information specific to your region. 
 

The website includes information about: 

  • The Local Recovery Coordinator 
  • Relief or recovery centre(s) 
  • Grants and financial assistance 
  • Mental health and wellbeing services 
  • Clean up and waste management  
  • Donations or volunteering, and much more.   

The website will be updated when new information becomes available.  

 

Help our fellow South Australians  

The South Australian Government has launched the SA Bushfire Appeal to raise funds for South Australians directly affected by the Cudlee Creek and Kangaroo Island bushfires.  

Financial donations are the best way to help disaster-affected communities recover, as this lets people buy exactly what they need and spend locally.   

Every contribution, no matter how big or small, can make a difference to those most affected by this tragedy.   

Every dollar donated goes directly to those impacted by the fires, with the South Australian Government to absorb all administration costs.  

How to donate  

You can make a tax-deductible donation online, via cheque, or in person at any Commonwealth Bank branch:   

  • Donate via the SA Bushfire Appeal Facebook Fundraiser www.facebook.com/donate/1172524589608900/113168913540534/
  • Donate online at sa.gov.au/bushfireappeal  
  • Electronic funds transfer to the SA Bushfire Appeal, Commonwealth Bank of Australia, BSB 065 266, Account 10020160, Description must state ‘donation’   
  • Credit card via the SA Bushfire Appeal BPoint payment website or phone 1300 276 468 (1300 BPOINT) and enter biller code 1002359    
  • Cash – go into any branch of the Commonwealth Bank and donate over the counter giving the details: BSB 065 266, Account 10020160   
  • Cheque – send to SA Bushfire Appeal, Donations, QA Finance, GPO Box 292, Adelaide SA 5001 

All funds from this appeal will be paid into the State Emergency Relief Fund and used to provide financial relief to people who suffered injury or loss due to the Cudlee Creek and Kangaroo Island fires in South Australia. 

All donations over $2 are tax deductible. If you require a receipt for taxation purposes, please email DHSdonations@sa.gov.au. 

If you have been directly affected by the Cudlee Creek or Kangaroo Island fires, you may be able to receive financial assistance from the State Emergency Relief Fund.  More information on how to apply for assistance will be available soon. 

Triple S Fee changes

There will be some changes to Triple S fees from 1 January 2020. See how they will impact you in a video featuring Super SA’s Chief Executive Dascia Bennett.

 

 

 

Income Stream fees reducing

Income Stream administration fees are reducing from 1 January 2020. See how they will impact you in a video featuring Super SA’s Chief Executive Dascia Bennett.

 

 

 

Significant Event Notice: Fees and Unit Pricing

Some fees for Triple S, the Income Stream, Flexible Rollover Product and Super SA Select will be changing.

If you are a member or investor of one of these schemes you will be receiving a Significant Event Notice containing the details shortly.

You can also access the scheme specific Significant Event Notice below:

 Triple-S-logo  IS-logo  FRP-logo  Select-Logo
Access the Triple S SEN here Access the Income Stream SEN here Access the FRP SEN here Access the Super SA Select SEN here

                                                                   

Overview:

Administration fees for Triple S, the Flexible Rollover Product (FRP) and Super SA Select increasing

As of 1 January 2020 the administration fees will change. In addition to the existing flat fee of $1.35 per week ($70.20 pa), members will pay 0.05% of their account balance p.a. (capped at $325 p.a.). This change will ensure we continue to cover the costs of providing you with a competitive level of services, products and benefits.

Family law fees for Triple S, the Income Stream, FRP and Super SA Select increasing

There will be a small increase in Family law fees members to reflect processing costs.

Income Stream administration fees decreasing

From 1 January 2020, there will be a reduction in the administration fee from 0.3% to 0.15% of balance p.a., and a reduction to fee caps.

Low account balance protection arrangements for Triple S and Super SA Select changing, new for FRP

Changes to low account balance protection arrangements will commence on 1 July 2020 to align with the Commonwealth Government’s “Protecting Your Super Package”.

FRP Withdrawal fee removed

FRP members will benefit from the changes with the removal of the partial withdrawal fee, also to align with the Commonwealth Government’s “Protecting Your Super Package”.

Unit pricing

Super SA is reviewing the way unit prices are applied to members’ accounts. The review is expected to be finalised by mid 2020 and any changes from the review are expected to be introduced shortly after.

 

If you have any questions call us on 08 8207 2094 during business hours, email us at supersa@sa.gov.au, visit the Member Service Centre or book an appointment with a licensed financial adviser.

 

1 Source: Chant West Super Fund Fee Survey June 2019 – Chant West Pty Ltd (www.chantwest.com.au)

Significant Event Notice: Investment option changes

Super SA is introducing changes to the investment asset allocations of Triple S, Super SA Select, Income Stream, Flexible Rollover Product and Lump Sum investment options.

The changes to the strategic asset allocations will be progressed commencing 22 August 2019 and at a time when appropriate market conditions prevail. The changes may be implemented over multiple years.

The changes mean that some options will have a different time horizon and risk category. We encourage you to review your current investment option(s) to confirm the way your super is invested still fits with what is best for you and your short- and long-term goals.

The changes are the result of a rigorous review conducted with investment manager, Funds SA, and specialist investment consultant, JANA. The changes will allow the investment options available to Super SA members to better reflect important shifts in investment markets and the superannuation sector.

Members will receive direct correspondence containing more detailed information (a Significant Event Notice) from Super SA in the coming weeks and you can find it here.

You'll find answers to frequently asked questions here.

If you want to speak to a Super SA staff member about these changes, you can call 08 8207 2094 during business hours.

What type of investor am I?

Where to start

You can choose how your super is invested. As no two people's financial situations are the same, their investment requirements also differ.

Before making a choice, it's important to understand the risks of investing as your appetite for risk within investment may differ depending on a number of factors.

Our “What type of investor am I?” calculator is a great place to start to help you determine which investment option(s) may be right for you. When you’ve used the calculator you’ll be assigned a risk profile which comes with an explanation you can keep as a reference. Super SA recommends that before making any financial decisions, you consider the appropriateness of the information obtained from this calculator in the context of your own objectives, financial situation and needs, refer to the relevant Product Disclosure Statement (PDS) seek financial advice from a licensed financial adviser in relation to your financial position and requirements.

It's important to continually monitor your investment choice, particularly when your circumstances change.

Want to find out more?

Super SA offers a range of different investment options to choose from. Depending on the scheme you are currently in, you can choose up to eight investment options or choose to spread your super over multiple investment options. You can find details of investment options here.

Ready to switch?

Determining the level of risk you are comfortable with and which investment option(s) is best suited to your situation is the first step in your investment journey. If you're ready to switch, and are a member of Triple S, Select, Flexible Rollover Product (FRP) or Income Stream you are able to switch your investment options within the member portal. Here you can change both your current investment options and the investment options for future transactions.  Instructions within the portal will guide you through the process.

If you are a Lump Sum member, you’ll need to complete a form and send it to us.

 

The superannuation schemes administered by Super SA are exempt public sector superannuation schemes and are not regulated by the Australian Securities and Investments Commission (ASIC) or the Australian Prudential Regulation Authority (APRA). Super SA is not required to hold an Australian Financial Services Licence to provide general advice about a Super SA product. The information in this publication is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Super SA recommends that before making any decisions about its products you consider the appropriateness of this information in the context of your own objectives, financial situation and needs, read the Product Disclosure Statement (PDS) and seek financial advice from a licensed financial adviser in relation to your financial position and requirements.

Get your statement online

Go green, save time, and get your statement online.

Available for Triple S, Super SA Select, FRP and Income Stream members.

 

1. Get your Client ID

You must use your Client ID number, not your Account ID, to log in or register to access your account online. Your Client ID number can be found on the second page of your statement in the top right hand corner as pictured below:

Statement-ClientID-cropped

2. Log in to the online member portal

Click on the Secure-Login-button button in the top right hand corner of the Super SA website to login to the member portal.

 

3. Edit your communication preferences

Once you have logged in or registered for the member portal, click on ‘MY DETAILS > Change My Details.

Change-my-details-menu

Click 'edit’ and scroll down to change your ‘communication preferences’. Don't forget to 'Save' your changes.

Communication-preferences-menu

 

Disclosure of investment costs

As foreshadowed in October 2017, Super SA’s indirect investment fees and costs are being reported differently in the 2017-18 Annual Statements and Fees and Costs fact sheets.

This is as a consequence of new regulations (RG 97) which came into effect across the whole superannuation sector on 30 September 2017.

Fees have not increased. However, the extent to which estimated indirect investment fees are now required to be disclosed by all super funds, has been expanded. They now include investment management costs incurred through underlying investment vehicles (referred to as interposed investment vehicles) plus transaction and operating costs.

The table below shows the investment cost components reflected in the Indirect Cost Ratio (ICR). The ICR expresses the investment costs as a percentage of average funds managed.

Investment cost components included in the ICR are as follows:

Fee disclosure

Investment cost component

Previous cost disclosure

2016-17

New cost disclosure

2017-18

Indirect cost ratio (excluding Performance fees and Transactional and operational costs)

 √

(× Did not include interposed investment vehicle costs)

 √

(√ Includes interposed investment vehicle costs)

Performance fees

Transactional and operational costs

NEW DISCLOSURE

×

 

In addition, investment related borrowing costs and property operating costs are now separately referenced. All these costs are deducted from the assets of the investment option and reflected in the unit price. Returns reported by Super SA are net of all investment costs.

Please note that the estimated indirect investment fees shown on your statement are not deducted from your member account. All investment related fees and costs are deducted from investment assets before returns are determined.

The Fees and Costs fact sheet for each scheme/product contains additional information.

Financial markets experience a rise in volatility

 Funds SA logo

 

6 December 2018

Movements in share markets can make us feel concerned about how this might affect the value of our superannuation. The recent falls in global share markets are an example of this.

Share markets around the world have experienced heightened volatility over the last few months, with the Australian share market falling approximately 6.8% and global share markets falling approximately 1.1% since the commencement of the new financial year to the end of November 2018.   

What has caused the volatility?

Share markets have fallen over the past few months as a reaction to three key themes:

  1. Concerns over rising interest rates in the US
  2. Warnings of lower Australian and global growth forecasts; and
  3. Continued concerns around US and Chinese trade negotiations.

These themes are not new to the market – recall that during February and March 2018 financial markets also experienced heightened volatility as a reaction to these themes.

The US Federal Reserve has been raising interest rates as the economy strengthens, to prevent a rise in inflation. Currently, US Treasury yields are at more than seven-year highs, rising three times this calendar year. However, company earnings have also been growing strongly, and with consumer and business sentiment improving, expectations are for a continuation of stronger US economic growth, which remains the most likely outcome at this point.

Escalating fears over US-China and US-Europe trade relations has seen a reduction in the IMF’s 2019 economic growth forecasts as the effects of recent tariffs will be largely felt next calendar year. The US growth forecast fell to 2.5% from the previous 2.7% and China’s growth forecast fell to 6.2% from earlier estimated 6.4%. Global investors have become more anxious these measures are the beginning of a deeper decline in global trading relations that could slow future growth forecasts. Concerns over the depth of falling Australian house prices has also weighed on the local stock market.

With the exception of the first couple of months this calendar year, market volatility has been low for some time. Over the course of market cycles returns can be unpredictable; it is quite normal for equity markets to have corrections of between 10% to 15%. Returns when measured over the long-term are likely to be positive, but potentially much lower than experienced in recent years.

Funds SA constantly monitors and reviews the appropriateness of the investment strategies and managers. Changes to the strategy are made to achieve the best outcome for our investors.

Investment options remain well diversified

Notwithstanding this short-term volatility, members’ investment options remain well diversified; it has been a strategic objective to build portfolios that have less exposure to share markets, to help safely navigate through turbulent periods. Although portfolios are not immune to the volatility stemming from share markets, Super SA’s asset mix, including high quality bonds, property, private equity and other unlisted assets, have helped to lessen the gyrations and deliver a smoother return profile for members.

Focus on the longer term

Whilst it is necessary to remind members that investment returns can be volatile in the short-term, an important discipline is to remain focussed on the long-term.

The best long run guide to the investment outcomes of the Super SA options is their investment objectives. For example, the Balanced option is targeting a return averaging 3.5% above the inflation rate when measured over long-term periods (of at least 7 years).

Superannuation remains a long-term strategy but with a well-diversified portfolio, investment goals may be achieved with greater certainty.

 

Funds SA Disclaimer

The information within this article has been prepared in good faith by Funds SA. However, Funds SA does not warrant the accuracy of the information and to the extent permitted by law, disclaims responsibility for any loss or damage of any nature whatsoever which may be suffered by any person directly or indirectly through relying upon it whether that loss or damage is caused by any fault or negligence of Funds SA or otherwise. The information is not intended to constitute advice and persons should seek professional advice before relying on the information.

Super balance on MyGov

Members who log in to myGov between Wednesday 24 Oct – Friday 30 Nov, will not be able to view their Super SA account balance. This is due to system upgrades required by the ATO which will improve future real time reporting.

To view your Super SA account balance please log in to the Super SA member portal, which can be accessed through the Secure Login menu in the top right hand corner of the Super SA website.

Registering for the member portal

To access the member portal you need to register. Please follow the steps below:

  1. Click on the 'Secure login' button in the top right hand corner of the Super SA website
  2. Select your scheme from the menu and click ‘Register’
  3. Complete all the details on the online form and click ‘Register'
  4. You will receive an email with a link that will allow you to complete the registration process by creating a password (you can only use this link once). Please note, the registration link will expire after 72 hours.

You can also watch the ‘Member portal welcome tour’ video below for more detailed step-by-step instructions on how to register.

Locating your Client ID

You must use your Client ID number to log in and register to access your account online. Your Client ID number can be found on the second page of your statement in the top right hand corner as pictured below:

Client_ID_Statement

Password creation

When creating a password for the member portal, you need to use a combination of letters, numbers and at least one special character from the options below:

Your password needs to be:

  • a minimum of 8 characters and a maximum of 16 characters

Your password must also contain at least:

  • 1 uppercase letter
  • 1 lowercase letter
  • 1 number, and
  • 1 of the following special characters ! @ # $ % ^ & } . { + * ( ) ? \

Secret question

When registering you will be asked to choose a 'secret question' from the list so we can validate your identity if you ever need to reset your password. It's important to choose a question and enter an answer that you will be easily able to remember. 

Member portal welcome tour

For step-by-step instructions on how to register for the member portal and the great features you can now access, please watch the short video below.

Need more information?

If you have any further questions please contact Super SA on 1300 369 315 or email via supersa@sa.gov.au.

Commonwealth preservation age to determine tax rates & EATS eligibility

From 1 July 2015 an increased tax rate will apply to super benefit payments cashed before you have reached your Commonwealth Government preservation age – the age that will also determine your income stream eligibility.

Background

The impact of the changes the Commonwealth Government made to its super preservation rules as part of the 2007 Stronger Super package of reforms will occur on 1 July 2015, which marks the first group of people turning age 55, but not reaching their Commonwealth Government preservation age.

The 2007 changes established that the lump sum super tax rates would be based on whether a person had reached their Commonwealth Government preservation age. Previously the lump sum tax rates were based on whether they had reached ‘age 55’.

Aligment between tax rates and preservation age

While the alignment between tax rates and Commonwealth Preservation age was legislated in 2007, from 1 July 2015 an increased tax rate will apply to super benefit payments cashed before you have reached your Commonwealth Government preservation age – the age that will also determine your income stream eligibility.

  • Tax rates for cashed benefits: the tax rate of 15% will no longer commence at age 55 but at Commonwealth Government preservation age.
  • Income stream: Commonwealth Government preservation rules will determine the age you can purchase an income stream.

Super SA schemes

While Super SA’s Triple S, Lump Sum and Pension Schemes are not required to comply exactly with the Commonwealth preservation rules due to their status as Exempt Public Sector Superannuation Schemes (EPSSS), the changes will affect members of these schemes born after 30 June 1960.

 

 

The following tables summarise the changes

Table 1: Age at which 15% on super lump sum cash payments up to $185,000 commences

Curently: 1 July 2015:
From age 55 (regardless of your Commonwealth preservation age) From your Commonwealth Government preservation age

 

Table 2: Impact of increase to Commonwealth Government preservation age on Super SA's Exempt Public Sector Super Schemes (EPSSS)

Super SA EPSSS Schemes Unchanged Changed
Triple S

Still able to cash benefit from age 55, as long as you have ceased employment (nb you do not have to be permanently retired or have reached Commonwealth Government preservation age).

 

 

 

 

An untaxed benefit taken as a cash lump sum prior to reaching your Commonwealth Government preservation age will be taxed at a rate of 30% plus Medicare.

Members who turn age 55 in the next financial year will not be able to access the Super SA Income Stream. This includes for the purpose of Early Access to Super (EATS) or Transition to Retirement (TTR) until the following year when they turn age 56.

Lump Sum Scheme
Pension Scheme

 

Table 3: How tax is calculated on your entitlement from 1 July 2015

Your age Tax on taxable (untaxed) component Tax on taxable (taxed) component
Under Commonwealth preservation age 30% maximum tax rate up to $1,355,000 20% maximum tax rate (no limit)
Commonwealth preservation age up to age 59

15% tax up ot $185,000

30% tax on balance up to $1,355,000

Taxed at 0% up to $185,000

15% tax on balance (no limit)

60 or over 15% tax on amounts up to $1,355,000 Tax free

 

Further information

Fact sheets:

Super SA: if you’d like to discuss your options, our Member Solutions Team can help. You can call them on 1300 364 941.

Commission-free financial advice: for detailed financial advice about what’s best for your situation Super SA recommends you speak to a licensed financial planner.