Superannuants are former South Australian State Government employees who are in receipt of a pension from the Pension Scheme, or former members of other Super SA administered schemes, who have rolled their funds into the Super SA Income Stream.
Pension Scheme membership
Pension Scheme CPI increase - how is it calculated?
Pension increases in the Pension Scheme are based on the movement in the Consumer Price Index (CPI). The Australian Bureau of Statistics (ABS) provides the official adjustment figures by measuring inflation over a period of time. When the figures are released by the ABS, Super SA uses the All Groups Index for Adelaide to determine what adjustments need to be made.
How often do they take place?
CPI adjustments are made twice a year, retrospectively and adjusted on the first payment days in April and October. If you have been receiving a pension for less than six months, a proportion of the percentage adjustment will be applied.
What's the latest increase?
From 1 October 2016 the CPI adjustment for your pension will be 0.19% which reflects the CPI movement for the period December 2015 quarter to June 2016 quarter.
|CPI adjustments and half yearly income statement and confirmation of entitlements form1|
|CPI adjustments and half yearly income statement|
|PAYG payment summary|
1The confirmation of entitlements letter is mailed to Superannuants living outside South Australia
A tax-effective post retirement product where you can access your super as a regular income as you head into retirement the Super SA Income Stream is a great option for you. It’s a cost effective product only available to Super SA members and spouses.
So if you’re close to retirement and you:
- want to keep your money invested in a tax effective super environment
- want to use your super as a regular income
- and don’t want to withdraw your super as a lump sum
then the Super SA Income Stream may be a good option for you!
SA Superannuants is an association of public sector retirees/employees providing representation and advocacy for members of the SA Government superannuation schemes.
Eligibility for membership
For many years membership of the Association was restricted to members of the Pension Scheme but has, in recent years, been opened up to members of other SA Government schemes. The Association speaks for all its members, those retired and those still at work.
Anyone receiving, or eligible to receive, a lifetime pension from the Pension Scheme, or members of other South Australian Government superannuation schemes can join the Association.
For more information: