What is a state superannuation fund?
State Super, is one of the oldest superannuation funds in Australia beginning in New South Wales in 1919 with the creation of the State Superannuation Scheme for salaried public servants. State Super employees are guided by five well-defined member beliefs and are committed to always acting in members' best interests. via
Is State Super the same as First State Super?
'Becoming Aware Super demonstrates our ongoing commitment to action and impact – for our members, their communities and the broader world that we live in. ' First State Super and StatePlus will be renamed Aware Super in September 2020. via
What is state public sector superannuation scheme?
The Public Sector Superannuation Scheme (PSS) is an Australian government-owned trust, deriving revenue from the provision of superannuation products and services to employees of the Australian Government and participating employers. via
When did Sass close?
SASS was closed to new members on 18 December 1992. via
How much super do I need to retire at 60?
ASFA estimates people who want a comfortable retirement need $640,000 for a couple, and $545,000 for a single person when they leave work, assuming they also receive a partial age pension from the federal government. For people who are happy to have a modest lifestyle, this figure is $70,000. via
Who can join state super?
The State Superannuation Scheme (SSS) was established by the NSW Government on 1 July 1919, under the Superannuation Act 1916 (the Act). Generally, salaried employees of the NSW public service and teaching service – and a number of statutory authorities scheduled in the Act – were eligible to join SSS. via
How good is Aware Super?
Aware Super has been named Best Super Fund in Money magazine's 2021 Best of the Best Awards. The awards for Best Pension Fund and Best MySuper Product were taken out by Cbus and AustralianSuper respectively. In receiving the award for Best Super Fund, Aware Super chief executive Deanne Stewart congratulated her team. via
Is Aware Super government?
Aware Super is an Australian Industry Superannuation Fund. It was initially established in 1992 as First State Super to provide superannuation benefits to New South Wales government employees, but is now open to anyone eligible to receive superannuation. via
What is the PSS 10 year rule?
What is the PSS Super 10 year rule? For the first 10 years of service with a PSS contributing employer, they will match up to 5% of your personal contributions. After the completion of 10 years of service, the employer will match up to 10% of your personal contributions. via
How much do I need in my super?
ASFA estimates that the lump sum needed at retirement to support a comfortable lifestyle is $640,000 for a couple and $545,000 for a single person. This assumes a partial Age Pension. via
How does the Commonwealth superannuation Scheme Work?
CSS is a hybrid scheme (part accumulation and defined benefit) where benefits derive from a member and an employer component. The employer component is the defined benefit part. It is unfunded and generally paid as a lifetime non-commutable indexed pension (lifetime pensions are paid by the Australian Government). via
What is the current SGC in Australia?
The rate of SG has been increased to 10% per annum since 1 July 2021. This is an increase of 0.5%. Superannuation guarantee legislation states that super payments will increase a further 0.5% each year until they reach 12% in 2025. These increases have been legislated by the Australian Government. via
Can anyone join First State Super?
Become a member
We take care of the super for over 765,000 members (as at July 2018) and anyone can be a member. via
What is the standard superannuation rate in Australia?
The Super Guarantee Contribution rate is currently equal to 10% of your ordinary time earnings, on income up to $58,920 per quarter. Further increments of 0.5% will apply annually up to 2025‐26, when the Super Guarantee rate will be set at 12%. via