Superannuants are former SA Public Sector 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

At 31 March 2017, the Pension Scheme had 16,017 members, comprising:

 Category Number 
 Contributory members 558 
 Preserved members 349 
 Superannuants 15,110 
 Total 16,017 

 


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.

 

Important dates

 July 2017 PAYG payment summary
 October 2017 CPI adjustments and half yearly income statement and confirmation of entitlements form1
 April 2018 CPI adjustments and half yearly income statement

1The confirmation of entitlements letter is mailed to Superannuants living outside South Australia 

Income Stream

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!

You can find more information about the Income Stream, including how the Income Stream could work for you as a Transition to Retirement or as an Income in Retirement.

 

SA Superannuants

SA Superannuants is an association of public sector retirees/employees providing representation and advocacy for members of the SA Public Sector 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 Public Sector 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 SA Public Sector superannuation schemes can join the Association.

 

For more information:

Investments

Monthly Market Commentary

Pension Scheme

CPI adjustments

Publications

SA Superannuants website

 

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