Transferring your super

What is transferring or withdrawing (cashing) your super?

Transferring your super

As a Triple S or Super SA Select member you have the choice to transfer your super to another super fund.

If you are actively employed in the South Australian public sector, you can choose to transfer part of your account balance, or if you have made a Fund Selection, your entire balance.


Can anyone make a partial or full transfer while still employed?

Most Triple S and Super SA Select members can make transfers. You can only make a full transfer payment if you’ve made a Fund Selection to another fund for all active South Australian public sector employment.

If you’re a SA Police Officer or SA Ambulance Operational staff, you can only make a full transfer between Triple S and Super SA Select (or vice versa). But you can make a partial transfer to any complying fund. 


Conditions for transfer payments

If you’re thinking about making a transfer, there are some conditions:

  • Minimum transfer amount is $1,000.
  • Minimum retained account balance after a partial transfer is $6,500 (except for SA Police Officer and SA Ambulance Operational staff, who must maintain $25,000).
  • Members can only request one partial transfer per financial year. Subsequent payment requests may only be granted in a financial year under exceptional circumstances. Contact Super SA if you would like us to consider this.


For more details regarding other terms and conditions that can apply, please see the Triple S Reference Guide or Super SA Select Reference Guide.


Making a transfer request

  • Complete a Transfer your super form and return it to Super SA, or
  • Request a transfer through your other fund or the ATO (via MyGov).

 

Withdrawing your super

If you’re a Triple S member aged 65 and over, you can withdraw a portion of your super, even while still employed in the South Australian public sector.

Super SA Select members will be able to access withdrawal payments even while still employed by the South Australian public sector if they meet a Commonwealth condition of release (e.g. reaching age 65), including having any unrestricted non-preserved benefit in their account.


If you’re thinking about making a partial withdrawal, there are some conditions:

  • Minimum withdrawal amount is $1,000.
  • Minimum retained account balance after a partial withdrawal payment is $6,500 (except for SA Police Officer and SA Ambulance Operational staff, who must maintain $25,000).
  • Members can only request per financial year:
      - one over age 65 partial withdrawal payment (Triple S only)
      - one partial withdrawal (cash) payment (Super SA Select only).

 

Subsequent payment requests may only be granted in a financial year under exceptional circumstances. Contact Super SA if you would like us to consider this.

For more details regarding other terms and conditions that can apply, please see Triple S Reference Guide or Super SA Select Reference Guide.


If you’re thinking about making a full withdrawal, there are some considerations:

  • If you have made a Fund Selection, your account will be closed and your insurance will cease.
  • If you do not wish to make a Fund Selection and want your employer contributions to continue to Triple S (or Super SA Select), you need to maintain $6,500 in your account.


Making a withdrawal request
Complete a Withdraw your super form and return it to Super SA.

What to consider before transferring or withdrawing funds

  • If you make a full transfer request, your account will close and any insurance held will cease (the exception is a full transfer from Triple S to Super SA Select, where the Triple S account remains open for insurance purposes, assuming you are still employed in the SA public sector and remain eligible to hold insurance).

  • The untaxed component of any amount transferred or withdrawn from Triple S will count towards a member’s lifetime untaxed plan cap.

  • There will be 15% tax deducted from any taxable (untaxed) component rolled out of Triple S, upon receipt by the other taxed super fund.

  • Tax (including 2% Medicare levy) will apply to partial withdrawal payments (based on age and benefit components).

 

What to consider before transferring or withdrawing funds
What to consider before transferring or withdrawing funds



If you’d like more information, we’d be happy to help you. Contact us today.


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. 

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