PSS contributing Member Statement Guide 2017-18 - Commonwealth ...


PSS contributing
Member Statement Guide

                 Find out how your
              super benefit is calculated
               and how you can make
                  PSS work for you
Your PSS contributing member statement
Financial year 2017—18
Use the following guide to help you navigate the different sections of your member statement.

*   Important
The information in this Member Statement Guide (MSG) is general information only and has been prepared without taking
into account your personal objectives, financial situation or needs. You should consider any advice in this MSG in light of
your personal objectives, financial situation and needs before acting on it.
You may wish to contact a licensed financial planner to do this. You should obtain a PSS Product Disclosure Statement (PDS)
and consider its contents before making any decisions.
This document is part of your periodic statement for your PSS account and was prepared on 28 July 2018 by Commonwealth
Superannuation Corporation (CSC) ABN: 48 882 817 243 AFSL: 238069 RSEL: L0001397, Trustee of PSS ABN: 74 172 177 893
RSE: R1004595. The other components of your periodic statement are the welcome letter, member statement and
transaction summary. The 2017–18 Annual Report will be available online at in the last quarter of the
calendar year.
Your benefit entitlements disclosed in your periodic statement (including your death and invalidity benefits) reflect your
situation as at 30 June 2018. The benefits shown are based on your current records and may be subject to change should
any of the details on which the information is based alter. You should seek a benefit estimate from PSS prior to withdrawing
any part of your benefit.
We are required to provide you with any additional information you may reasonably need to understand your investment
in PSS, including any benefit entitlements (such as your death and invalidity benefits). Further information in relation to an
interest in PSS (including details of contribution levels and insurance cover that may be available to you) is also available on
request from CSC. To access or request this information, please contact us as set out in the contact us section of this MSG.
Your personal details at 30 June 2018                                                                           1

    Contents                                                                                                    Limited      Benefits Member (LBM)
                                                                                                                Reference number
                                                                                                                You are considered an LBM if you:
    •   Your personal details                                                                                               salarycompleted a Confidential Medical and Personal
    •   Your benefit accrual
    •   Your benefit summary                                                                                        Statement
                                                                                                                 Your                (CMAPS) form
                                                                                                                      contribution rate

    •   Your rate of allotment of net earnings                                                                  or
                                                                                                                 Membership commenced
    •   Your investment option performance                                                                      • did complete a CMAPS form, and we assessed you as an                                                         A
                                                                                                                 Employment status                                                                                             M
    •   Your benefit details                                                                                        LBM because you have a pre-existing medical condition                                                      M
    •   Your benefit options                                                                                        that
                                                                                                                 Your hourswe
                                                                                                                            per believe
                                                                                                                                fortnight may cause you to take excessive sick                                                 gi
    •   Your invalidity benefit                                                                                     leave   in  the   first three years of membership.
                                                                                                                 Limited Benefits Member (LBM)                                                                                 an
    •   Your death benefit                                                                                                                                                                                                     un
                                                                                                                Tax FileFile
                                                                                                                        NumberNumber    supplied
    Your PSS
                                                                                                                               supplied                                                                                        yo
    •   Your insurance details                                                                                                                                                                                                 m
    •   Your surcharge debt                                                                                     IfEmail
                                                                                                                         have not supplied your Tax File Number (TFN),
    •   Your transaction summary                                                                                any concessional contributions received may be taxed at

    member statement
                                                                                                                 Mobile number
    •   Other important information                                                                             the highest marginal tax rate.
                                                                                                               Please check your member details, and contact your personnel section if they are incorrect.

    Your personal details
    Your personal details at 30 June 2018                                                                       Your benefit accrual
                                                                                                               Your1benefit accrual
                                                                                                                     July 2017
                                                                                                                   to 30 June 2018                                      Balance at                                Balance at
      Name                                                                                                                                                             1 July 2017                               1 July 2018   Yo
      Reference number                                                                                           Final Average Salary (FAS)                                                                                    yo

      Your super salary                                                                                          Accrued Benefit Multiple (ABM)

      Your contribution rate                                                                                     Your total benefit accrual

      Membership commenced                                                                                      Final  Average Salary (FAS)
                                                                                                                   Are you registered for
      Employment status
                                                                                                                Your  FAS is based
                                                                                                                     Member    Serviceson your average superannuation salary, which
                                                                                                                is calculated   using Online
                                                                                                                     Member Services    your superannuation salary on each of your
                                                                                                                      Make            super
      Your hours per fortnight                                                                                       gives you
                                                                                                                last three     ready access
                                                                                                                             birthdays      to
                                                                                                                                         recognised for superannuation purposes.
                                                                                                                      a range of information

                                                                                                                      work for you
                                                                                                                        tools to help you salary includes basic salary and

      Limited Benefits Member (LBM)
                                                                                                                    understand and manage
      Tax File Number supplied                                                                                  allowances    recognised for superannuation purposes.
                                                                                                                    your super. To find out
                                                                                                                      Get financial advice you can trust.
                                                                                                                        more visit
      Email address                                                                                             Accrued Benefit Multiple (ABM)
                                                                                                                      CSC’s authorised financial planners provide a financial
                                                                                                                      advice service that can assist you in reaching your financial

      Mobile number                                                                                             Your benefit accrual is calculated using your ABM. Your ABM is
                                                                                                                      goals. It is ‘fee for service’ advice, which means you
                                                                                                                      receive a fixed quote upfront. There are no obligations,
                                                                                                                worked out based upon the length of your PSS membership
                                                                                                                      commissions or hidden fees. For more information about
    Please check your personal details carefully and contact
    Please check your member details, and contact your personnel section if they are incorrect.
                                                                                                                      this service, or to arrange an initial appointment please
                                                                                                                and the rate of member contributions, expressed as a percentage
                                                                                                                      call 1300 277 777 during business hours or
    your personnel
    Your           section if they are incorrect.
         benefit accrual
1                                                                                                                     visit

                                                             Balance at                           Balance at
                                                                                                                        Did you know...?
                                                                                                                        Your defined benefit is
of your salary you pay each fortnight. The higher your member   Early Release Deduction
    contribution percentage rate and the longer you contribute,
    the higher your ABM. For more information refer to
                                                                    Amount (ERDA) payments
                                                                    If you have received an ERDA payment, the amounts
    Your total benefit accrual                                      disclosed in your member statement as your total equity
    This amount is calculated by multiplying your FAS by your       at 1 July 2017 and 30 June 2018 have been reduced by the
    ABM. If you have reached your Member Benefit Limit (MBL),       amount of your ERDA.
    your final benefit is capped to a maximum. For more             All future benefit options will be reduced by your ERDA
    information refer to                                 including invalidity and death benefits.

                                                                    Your total benefit at 1 July 2017
    Your     benefit summary
    Benefit summary
                                                                    This is your total benefit at 1 July 2017.
     Your total benefit at 1 July 2017
                                                                    Member       contributions
                                                                      You can view details of the
     PLUS contributions or amounts – 1 July 2017 – 30 June 2018
                                                                    This amounts
                                                                         shows your that arepersonal
                                                                                              attributed contributions paid into your
                                                                         directly to your account in
     Member contributions                                           account    between Summary
                                                                         your Transaction     1 July 2017 and 30 June 2018. You can
     Productivity contributions                                     choose    to ofmake
                                                                         as part            no contributions, or to pay member
                                                                                     this statement,
     (less 15% tax)                                                      or at any timebetween
                                                                    contributions         using the 2 and 10%. Please note: there are
                                                                         Member Services Online
     Co-contributions                                               limitations    onSummary
                                                                         Transaction    the contributions
                                                                                                    page.      you can make to your super.
                                                                         This is a combination
     Low Income Contribution
                                                                    Productivity       contributions (less 15% tax)
                                                                       of any Low Income
     Transfers in                                                   This shows    the amount that your employer contributed each
                                                                         Contributions and
     Superannuation                                                 fortnight  (less
                                                                         any Low     15% contributions tax) between 1 July 2017
     Guarantee contributions
                                                                    and 30  June 2018.Tax Offset.
     Net earnings

     ADD employer – 1 July 2017 – 30 June 2018
                                                                    This shows any Australian Taxation Office (ATO) super
                                                                          This amount is financed
     Employer component accrual                                     co-contributions
                                                                          by your employermade
                                                                                            and to your PSS account between
     LESS                                                           1 Julyaccrues
                                                                                   and on30several
                                                                                             June 2018.
                                                                         factors, including your FAS,
                                                                    If youyour
                                                                            made    personal
                                                                               contribution      contributions to your super in 2017–18,
                                                                                            rate and
                                                                    and are    eligible
                                                                          length         to receive a co-contribution payment to
                                                                                 of membership.

                                                                    PSS, it will not be made until after 30 June 2018. This will
                                                                    not be shown here because you need to lodge your 2017–18
     Your total benefit at 30 June 2018                             income tax return before the ATO can assess your eligibility.
Low Income Contribution                                           rate and length of membership. Your employer pays the
    This is a combination of any Low Income Superannuation            difference between your total benefit accrual, and the total
    Contributions and any Low Income Superannuation Tax Offset.       of your member and productivity components.
    If you made personal contributions to your super in 2017–18,      Less
    and are eligible to receive a Low Income Contribution payment     This shows the amount of withdrawals during the reporting
    to PSS, it will not be made until after 30 June 2018. This will   period, including amounts if you were subject to a family
    not be shown here because you need to lodge your 2017–18          law split from your PSS membership from 1 July 2017 to
    income tax return before the ATO can assess your eligibility.     30 June 2018. These amounts will also be shown on your
                                                                      transaction summary.
    Transfers in
    This shows any amounts you have transferred from other            Your total benefit at 30 June 2018
    super funds. When you stop working and take your PSS              This is your total benefit at 30 June 2018. It includes your
    benefit, any transfer amounts will be paid to you as a            member, productivity, co-contributions, Low Income
    lump sum.                                                         Contribution, transfers in, SG contributions and net earnings
                                                                      less any withdrawals, between 1 July 2017 and 30 June 2018.
    Superannuation Guarantee contributions
    This shows any ATO contributions made to your PSS account         Keep in mind that this amount may differ from your total
    between 1 July 2017 and 30 June 2018.                             benefit accrual (FAS x ABM). Your total benefit accrual
                                                                      does not include super co-contributions, Low Income
    Net earnings                                                      Contribution, transfers in, SG contributions and net earnings
    This is the sum of your total net earnings (positive or           on those amounts. There may also be a difference due to
    negative) on your member, productivity, co-contributions,         under or overpaid member contributions and net earnings.
    Low Income Contribution, transfers in and Superannuation
    Guarantee (SG) contributions, between 1 July 2017 and             * If your benefit is subject to a family law split within
    30 June 2018.                                                        this financial year, you will notice the LESS column
                                                                         displays the reduction amounts at the date of your split,
    An earning rate for the default fund option is determined by
                                                                         known as operative time. This is due to your family law
    us for every business day. These rates are used to calculate
                                                                         court order or superannuation agreement.
    entitlements for members exiting PSS.
                                                                         Also your transaction summary will show the reduction
    The earnings are allocated monthly on the basis of the rates
                                                                         amount of your benefit components at the operative
    determined for that month.
                                                                         time, in addition to your contributions made and any
    Employer component accrual                                           variation in your investment option.
    This amount is financed by your employer and is based
3   on several factors, including your FAS, your contribution
Your rate of allotment                                                                                                      The following details are based on the assumption you
                                                                                                                                have not left the workforce.
    Ratenet    earnings
        of allotment of net earnings 1 July 2017 – 30 June 2018
                                                                                                                                If you   are age 65 and older
                                                                                                                                    For an explanation on how
       Rate of allotment of net earnings
                                                                                                                                As ofthe
                                                                                                                                      1 March       2018 we
                                                                                                                                         rate of allotment       have changed our arrangements
                                                                                                                                                             of net
    The     amount shown              takes    into account net earnings, your opening                                               earningsinterest
                                                                                                                                regarding      is calculated
                                                                                                                                                              benefits. If you cease your PSS
    Investment               option       performance                                                                                to your MSG.
    balance and other changes to your account balance such as                                                                   membership after your 65th birthday, the interest will cease
    contributions           and transfers paid30into          1 year
                                                                  your to account  5 years   to
                                                                                           during        10 years to
                                                                                                        the                     to accrue three months after your date of exit.
                                                            June 2018         30 June 2018           30 June 2018
    reporting period. The net change to your opening account balance                                                            We are taking this approach because PSS’s governing
       averaged across the year in determining                     9.3%                   8.8%
                                                                            this percentage.                      5.9%
                                                                                                                                legislation, the Superannuation Act 1990, requires your
    Rate     of allotment
    This long-term                    of not
                   returns statement does net     earnings
                                             reflect                1 July
                                                     your personal returns      2017
                                                                           credited to your–account.
                                                                                             30 June It reflects2018
     returns at the investment option level in which funded benefit components are invested. Your personal rate of return       preserved benefit to be claimed at age 65.
     Your investment option
     is shown as the rate of allotment of net earnings above.
      Rate of allotment of net earnings
                                                                                                                                    For an explanation on how
                                                                                                                                    the rate of allotment of net
                                                                                                                                Your preservation age
     Your benefit details at 30 June 2018
    Rate of allotment
    Investment        ofperformance
                 option  net earnings 1 July 2017 – 30 June 2018
       Your preservation age
                                                                                                                                    earnings is calculated refer
                                                                                                                                     Didyour    know...?law places restrictions on when you
      Rate of allotment of net earnings                        1 year to            5 years to            10 years to           can For
                                                                                                                                     If you  aresuperannuation
                                                                                                                                                 deemed on
                                                                                                                                         an explanation    as retired
                                                                                                                                                              how     benefits, especially lump
      Option                                                                                                                         from
                                                                                                                                    the    theofworkforce
                                                                                                                                         rate     allotmentyou   are
                                                                                                                                                             of net
       Preserved benefit                                   30 June 2018          30 June 2018           30 June 2018            sums.   One     of
                                                                                                                                     able to claim
                                                                                                                                                    these    restrictions
                                                                                                                                                      your pension
                                                                                                                                               is calculated  refer
                                                                                                                                                                          is called your preservation
     Default          option performance9.3%
      Restricted non-preserved benefit                                                       8.8%                   5.9%        age,toonce
                                                                                                                                      and   itMSG.
                                                                                                                                        youryou applies
                                                                                                                                                 reach yourin addition to the other restrictions on
                                                                                                                                     minimum retirement
                                                                                                                                withdrawing                   age
                                                                                                                                                   your benefit.
     All returns in this table are calculated as the compound average
    This long-term returns statement does not reflect your personal
    returns              non-preserved
            at the investment   option level inbenefit
                                                                1 yearreturns
                                                                          to credited5toyears
                                                                                         your account.
                                                                                               to It reflects
                                                                                                         10 yearslong-term
                                                which funded benefit components are invested. Your personal rate of return           (usually 55), regardless of
                                                           30 June 2018         30 June 2018           30 June 2018                                        age. not reached your preservation age
     rate of earnings after fees and taxes. The long-term performance
    is shown as the rate of allotment of net earnings above.                                                                    Generally,     if you have
                                                                                                                                     your preservation
       Accumulation Phase Value
      Default     outlined
               benefit            in the table
                                details       at 30are    June the2018investment
                                                                      9.3%                  options
                                                                                             8.8%          as a 5.9%            yourFor
                                                                                                                                      cash    lump sum
                                                                                                                                          an explanation  onis
                                                                                                                                                                   the     to your SIS upper limit and
                                                                                                                                     Accumulation Phase Value is
       Your   SIS and
         long-term  returnsare
                   upper         not
                            limit      your
                                      does       personalised
                                            not reflect                   investment
                                                        your personal returns                  returns.
                                                                              credited to your account. It reflects long-term   the balance
                                                                                                                                    Did          of your lump sum must remain preserved in
                                                                                                                                         you know...?
                                                                                                                                     calculated  refer to your MSG.
    returns at the investment option level in which funded benefit components are invested. Your personal rate of return
      Your preservation age
    is shown as the rate of allotment of net earnings above.                                                                    PSS,Ifor
                                                                                                                                                deemedcases   can be rolled over.
                                                                                                                                                         as retired

    Your benefit details
       Minimum amount on exit                                                                                                        from the workforce you are
    Your    benefit details at 30 June 2018
     Preserved benefit
                                                                                                                                    able to claim your pension
                                                                                                                                 Preservation      age
    Your     benefit
     Restricted         options
                non-preserved benefitat 30 June 2018
                                                                                                                                    once you reach your
                                                                                                                                     Did you know...?
      Your preservation age                                                                                                        minimum
                                                                                                                                 Date  ofare
                                                                                                                                   If you    retirement
                                                                                                                                             deemed     age
                                                                                                                                                     as retired               Preservation age
       Preserve total
      Unrestricted    benefit in PSSbenefit
                   non-preserved                                                                                                    (usually
                                                                                                                                    from the55),     regardless
                                                                                                                                                workforce    youofare
      Preserved benefit                                                                                                          Before
                                                                                                                                     If you
                                                                                                                                    able  toJuly
                                                                                                                                             claim   any   age.
                                                                                                                                                      yourpart of
                                                                                                                                                            pension                    55
      Accumulation  Phase Value                                                                                                      your
                                                                                                                                    For    member
                                                                                                                                         anyou   reachcomponent,
                                                                                                                                             explanation your
                                                                                                                                                            on how the
      Restricted non-preserved benefit                                                                                           1 July
                                                                                                                                    Accumulation    –take
                                                                                                                                                       Phase   age 1961
                                                                                                                                                              Value is                 56
      Your SISsum member
               upper limit now*                                                                                                      on retirement.
                                                                                                                                    calculated 55),  regardless
                                                                                                                                                   refer          MSG.
                                                                                                                                                         to your of
      Unrestricted non-preserved benefit                                                                                         1 July   1961      –  30
                                                                                                                                    your preservation age.
                                                                                                                                                           June    1962                57
      Minimum  amount on exit
      Accumulation Phase Value                                                                                                   1 July  1962
                                                                                                                                    For an      – 30 June
                                                                                                                                           explanation on how1963
                                                                                                                                                              the                      58
       Preserve the balance in PSS                                                                                                  Accumulation Phase Value is
    Your    benefit
     Your SIS upper limitoptions at 30 June 2018                                                                                 1 July  1963refer
                                                                                                                                    calculated – 30to June  1964
                                                                                                                                                      your MSG.                        59
     * Payment of your resignation lump sum will be limited to the amount of your member contributions and interest up
     to your SIS upper limit. The remainder will be preserved in PSS until you reach preservation age, or rolled over to
     another        amount
     benefiton exit
                                    in PSS                                                                                       After 30 June 1964                                    60
4                                                                                                                                    If you claim any part of
         benefit options at 30 June 2018                                                                                             your member component,
                                                                                                                                     you cannot take a pension
Preserved benefit                                                 and
    Your preserved benefit must remain preserved in the               • notional employer component
    superannuation system until you:                                  and
    • reach your preservation age and leave the                       • any transferred amounts, including any co-contributions,
      workforce permanently                                             LISC, LISTO, or ATO SG.
    • change employers after reaching the age of 60                   Any outstanding surcharge debt will be deducted from this
    • die                                                             value before it is reported to the ATO. More information
    • become totally and permanently incapacitated                    about APV or the total super balance can be found on
    • qualify for release on the ground of severe financial           our website.
      hardship or specified grounds.
                                                                      Your SIS upper limit
    Restricted non-preserved benefit                                  This is the maximum amount of any cash lump sum that
    This benefit can be paid when you stop working in Australian      can be paid to you in accordance with the Superannuation
    Government employment, subject to PSS rules. In PSS this          Industry (Supervision) Regulations 1994 (SIS) if you are not
    amount is limited to your SIS upper limit, and could be further   permanently retiring from the workforce, or you have not
    restricted by your age and the benefit option you choose on       reached your preservation age. Any cash lump sum paid to
    cessation of contributory membership.                             you may be further restricted by your age and the benefit
                                                                      option you exit under.
    Unrestricted non-preserved benefit
    This benefit can be paid to you at any time, subject to PSS       Minimum amount on exit
    rules. In PSS, no benefits are payable until you stop working     This is a guaranteed dollar amount payable regardless
    in Australian Government employment. This means your              of Fund performance. This amount is contributions and
    unrestricted non-preserved benefit in PSS will always be nil      earnings to 30 June 2003 plus contributions (not including
    while you are a contributing member.                              earnings) from 1 July 2003 to 30 June 2007.

    Accumulation Phase Value
    The Accumulation Phase Value (APV) is the total value of
    any superannuation benefits in the growth or accumulation
    phase, and counts towards your total super balance. CSC will
    report the APV for your PSS interest as the total of the
    following (as at 30 June 2018):
    • accumulated member contributions
    • accumulated productivity contributions
Accumulation Phase Value is
     Your SIS upper limit                                                                                                     calculated refer to your MSG.

     Minimum amount on exit

    Your    benefit
    Your benefit         options
                 options at 30 June 2018
                                                                                                                          You can use the PSS i-Estimator to estimate your resignation
                                                                                                                          benefit, and other benefit options at various dates. You will
     Preserve total benefit in PSS                                                                                        need to register for Member Services Online to get access.
                                                                                                                          Registering     is any
                                                                                                                               If you claim  easypartand
                                                                                                                                                      of takes only a few minutes. Simply go
     OR                                                                                                                        your member component,
                                                                                                                               you cannot take a pension
     Lump sum member now*                                                                                                     on retirement.
                                                                                                                          Retiring after minimum retirement age
                                                                                                                          (over 55)
     Preserve the balance in PSS
                                                                                                                          When you retire you have a range of different options:
    * Payment of your resignation lump sum will be limited to the amount of your member contributions and interest up
    The amounts shown reflect your benefit at 30 June 2018
    to your SIS upper limit. The remainder will be preserved in PSS until you reach preservation age, or rolled over to   1. Preserve your entire benefit in PSS. This preserved
    another fund.
    and may change. You can use the PSS i-Estimator to                                                                       benefit is payable when you permanently leave the
    estimate your retirement benefits, and other benefit                                                                     workforce, or change employers after you turn 60.
    options at various dates.                                                                                                You can take your benefit as a lump sum, a CPI-indexed
    For more information about your retirement benefit                                                                       pension, or a combination of both.
    options visit or contact us on 1300 000 377.                                                               2. Convert your entire benefit to a pension that is indexed
                                                                                                                             twice a year in line with movements in the CPI.
    Resigning before minimum retirement age
                                                                                                                          3. Take all of your benefit as a lump sum, provided you have
    (under 55)                                                                                                               reached your preservation age.
    If you resign, you can choose one of the following options,
    depending on your circumstances:                                                                                      4. Convert at least 50% of your benefit into a CPI-indexed
                                                                                                                             pension, and take the balance as a lump sum (subject to
    1. Preserve your entire benefit in PSS. Generally you can                                                                preservation age rules).
       claim your benefit at age 55 if you have permanently left
       the workforce. However, if you have not reached your                                                               5. Take part of your benefit as a lump sum and preserve the
       preservation age, restrictions will apply to the access of a                                                          balance in PSS (subject to preservation age rules).
       full lump sum. You can also claim your preserved benefit                                                           If you are under age 60 and have not permanently left the
       if you change employers after you reach the age of 60.                                                             workforce, your only options are 1 and 5, with the lump sum
    2. Take your member component as a lump sum up to your                                                                payable under option 5 limited to your member component
       SIS upper limit and preserve the balance in PSS. Be aware                                                          up to your SIS upper limit.
       that if you claim any part of your member component,                                                               Also, if you are under age 60 and have not reached your
       you lose the option of taking a CPI-indexed pension when                                                           preservation age, any lump sum payable is limited to your
       you claim your preserved benefit.                                                                                  SIS upper limit. This is reflected on your statement.
    The amounts shown in this section reflect your benefit at
6   30 June 2018 and may change.
Your    invalidity
    Your benefit               benefit
                 if you are retired on invalidity at 30 June 2018
                                                                        The lump sum obtained from this calculation is then
                                                                        converted to an indexed pension. The pension conversion
     CPI-indexed pension (pa)                                           factor  used is 11.00, which is the one that would have
                                                                            The invalidity pension
                                                                        applied  toprojected
                                                                            is your you if you age retired at the age of 60. In other words,
                                                                             lump sum   pension  at
                                                                                            is divided   by 11.00 to obtain the amount of
                                                                            age 60. To learn how this is
     Lump sum                                                           indexed   pension.
                                                                            calculated please refer to the
     OR                                                                      MSG
                                                                        Please   for more
                                                                               note:      information.
                                                                                      if you   had been contributing at more than
     Lump sum (if LBM applies)
                                                                        5% for less than three years before you commence sick
                                                                        leave for the final time, you may not be eligible for benefits
    Yourinvalidity     benefitatshown
            death benefit                 2018member statement is
                                       on your
                                  30 June                               calculated at the higher average rate.
    the default option provided by PSS that is payable to you if
                                                                         * Please       note:     the figures quoted in your statement are
     CPI-indexed pension (pa)
    you   do not select an alternative benefit option. This is the            Any pre-1996    transfer
                                                                        Your   benefit
                                                                              amounts      ifofyou
                                                                                        have     theare
                                                                                               been       retired
                                                                                                      benefit  youon invalidity
                                                                                                                   may          at 30
                                                                                                                        have been     June 2018
     PLUS            pension plus lump sum.                                   included in the invalidity
                                                                         CPI-indexedyou   retired
                                                                                     pension   (pa) on invalidity grounds on 30 June 2018.
     Lump lump
          sum  sum is a refund of your co-contributions,                                 pension                                                  T
                                                                             These     amounts
                                                                              displayed. Refer to theare subject to change in line with any       i
    Low Income Contribution, transfers in, net earnings and              PLUSMSG for more information.
     OR                                                                      future changes to your salary, contributions or working              r
    SG contributions.                                                                                                                             a
                                                                         Lumphours.    If you are
                                                                              You                  get considering invalidity retirement,         c
                  LBM applies)
                               as a LBM, your invalidity benefits are        you   should
                                                                              permanent        contact
                                                                                           invalidity or us to discuss your options and           M
      OR          to a lump sum payment of the total benefit you              death benefits at no extra
                                                                             obtain    a  benefit     estimate.
                                                                              cost to you.
    have   accrued at the date of your invalidity retirement.
      Lump sum payable to your estate
                                                                         Lump sum (if LBM applies)

    For more information about invalidity benefits visit
                                                                        Your    death
                                                                        Your death benefit benefit
                                                                                           at 30 June 2018
    or contact us on 1300 000 377.
                                                                         CPI-indexed pension (pa)
    How is an invalidity benefit calculated?                             PLUS
    The invalidity pension benefit payable on total and permanent                                                                                 i
    incapacity is based on the lump sum you would have received          Lump sum
    if you had worked to the age of 60. Generally, for this purpose,     OR                                                                       M
    if you had been contributing at an average of more than 5%
                                                                         Lump sum (if LBM applies)                                                Y
    of your salary, it is assumed you would have continued to                                                                                     p
    contribute at that higher rate through to the age of 60.            The
                                                                          OR death benefit shown on your member statement is                      d
    Surchargeifdebt you had been contributing at less than 5%, your
                         information                                    the  benefit
                                                                          Lump          that
                                                                                sum payable    would
                                                                                            to your estatehave been payable at 30 June 2018
    benefit is worked out on the basis your contributions would         if youDiddied  while you were a contributing member, and your
                                                                                   you know...?
     At 1 July 2017
    have    been immediately increased to 5%, and that you would        Insurance
                                                                        only  Ifdependant      was an eligible spouse. The maximum
                                                                                 you have a surcharge
7   have    continued to contribute at that rate until the age of 60.
     Debt added
                                                                              debt, it can be paid in part
                                                                              or full during the period of
     Payments made                                                            your membership.
pension payable to your eligible spouse is a percentage of
    the invalidity pension you would have received if you had
                                                                       Your    surcharge
                                                                       Surcharge                debt
                                                                                 debt information
                                                                        At 1 July 2017
    retired on invalidity grounds at 30 June 2018.                                                                                      I
                                                                        Debt added
    The lump sum payable to your eligible spouse is a refund of                                                                         o
    your co-contributions, Low Income Contribution, transfers in,       Payments made

    net earnings and SG contributions. The percentage of the            Interest added
    pension is increased if you have one or more eligible children.
                                                                        At 30 June 2018
    Your death benefit may be reduced by an adjustment to
    recover any accrued surcharge debt.                                The entries in this table show the surcharge total debt as at
                                                                       1 July 2017 and 30 June 2018. Including any debt and interest
    If you are classified as a LBM, your death benefits are            added, as well as payments made since 1 July 2017. If you
    restricted to a lump sum payment of the total benefit you have     have a surcharge debt, you do not have to pay it now – it will
    accrued at the date of your death as a contributing member.        be deducted from your PSS benefit when it’s paid to you. If
                                                                       you want to you can reduce your surcharge debt by making
    Lump sum payable to your estate
                                                                       payments. Interest calculated at the 10-year Treasury bond
    If you die before retirement and no spouse and/or children’s
                                                                       rate will be applied to any outstanding balance of your
    benefits are payable, a benefit comprising your member
                                                                       surcharge debt account as at 30 June each year. The 10-year
    contributions, net earnings, and the minimum employer
                                                                       Treasury bond rate for 2017–18 financial year is 2.63%.
    benefit payable under the superannuation guarantee
    legislation, is to be paid to your estate.                         If you have any questions about your surcharge assessment,
                                                                       please contact the ATO on 13 10 20.
    For more information, refer to our website or
    contact us on 1300 000 377.
                                                                       Your transaction summary
                                                                       Your transaction summary will show the reduction amount
    Your insurance details                                             of your benefit components at the operative time, in addition
    This shows your Additional Death and Invalidity Cover (ADIC),      to your contributions made. Transactions shown on your
    if any, up to 30 June 2018. Some members may have the              account between 1 July 2017 and 30 June 2018 include:
    option of increasing their ADIC. Your employer will pay half the   • any payments (including member and productivity
    costs of the standard premium for the additional insurance.           contributions, transfer amounts and co-contributions)
                                                                          that were made to your account
    * For more information about ADIC, refer to our PSS PDS            • monthly net earnings allocated to your account
        and the Death and invalidity benefits booklet at               • contributions tax deducted from your account or contact us on 1300 000 377.                      • member ADIC premiums
                                                                       • activity fees
8                                                                      • any withdrawal including a family law reduction or ERDA.
Fees and other costs                                             Privacy notice
    This shows the indirect costs of your investment, any activity   We’re committed to protecting your privacy. We collect
    fees and other fees of your investment between 1 July 2017       your personal information for the purposes of providing
    and 30 June 2018.                                                superannuation services to you, improve our products and
    The total fees you paid do not include property operating        to keep you informed. We will only share your personal
    costs that you incurred during the period. For information       information where necessary for providing superannuation
    about fees and other costs, including property operating         services to you. This may include disclosing your personal
    costs and borrowing costs, please refer to the Fees and          information to our scheme administrator, service providers or
    other costs booklet available at                      government or regulatory bodies. Your personal information
                                                                     may be accessed overseas by our service providers. Please see
    Other important information                                      our privacy policy for full details. Your personal information
                                                                     will not be otherwise used or disclosed unless required or
    Pre-1996 transfer amounts                                        permitted under law. A full copy of our privacy policy as well
    Any transfers you made before 1996 will have been                as the privacy complaint process is available at
    reported as an accumulation lump sum on your member
    statement. This amount can be claimed as either:
                                                                     If you have a complaint, you can be sure it will be dealt with
    • an accumulation lump sum (as reported in this statement)
                                                                     as quickly as possible.
    • a multiple of your FAS.                                        To register your complaint
    The benefit resulting from this transfer amount will depend      We want you to be completely satisfied with our service, but if
    on the type of benefit paid to you, and the benefit option       you feel you need to make a complaint just call 1300 033 732.
    you choose. In certain circumstances, the benefit resulting      If you are not satisfied with the response, ask to speak to a
    from the transfer amount will be a multiple of your FAS          supervisor. If you still feel the issue has not been explained
    rather than an accumulated amount.                               or resolved to your satisfaction contact our Customer
                                                                     Care Officer:
    * If you have returned to eligible employment during the         Email:
        period 1 July 2017 to 30 June 2018 as a PSS contributing
                                                                     Phone: 1300 033 732
        member, and your previous membership has been
                                                                     Fax:		 02 6275 7010
        linked with your current membership, the amounts
                                                                     Post: PSS Customer Care Officer,
        set out in your member statement as at 1 July 2017
                                                                              GPO Box 2252, Canberra ACT 2601
        represent a consolidation of your previously preserved
        benefit at 1 July 2017. Other amounts on your member
        statement relate to your fully combined memberships.
If you are still not satisfied                                Contact us
If you are dissatisfied with our final response or if we      If you need further information about your super, you can
cannot resolve your situation within 90 days, you can lodge   get yourself off to a good start by visiting where
a complaint with the Superannuation Complaints Tribunal       you will have easy access to:
(prior to 1 November 2018) or the Australian Financial        • our PSS PDS
Complaints Authority (from 1 November 2018).                  • a glossary of terms
The Superannuation Complaints Tribunal and the Australian     • forms and publications
Financial Complaints Authority are independent dispute        • news and information
resolution bodies set up by the Australian Government to      • free super seminars (including dates, locations and
resolve superannuation complaints.                               booking facility)
                                                              • webinars (from the convenience of your home or
For information about the Superannuation Complaints
                                                                 work computer)
Tribunal visit and for information about the
                                                              • Member Services Online where, with a secure Access
Australian Financial Complaints Authority visit
                                                                 Number, you can:
You can contact the Superannuation Complaints Tribunal in        • view and print your member statement
one of the following ways:                                       • project your final PSS benefit using i-Estimator
Email:                                           • view and update your contact details
Phone: 1300 884 114                                              • review and update your investment options
Fax:		 03 8635 5588                                              • contribute or make surcharge debt payments via BPAY
Post: Superannuation Complaints Tribunal,                        • estimate your concessional contributions cap space
        Locked Bag 3060, Melbourne VIC 3001                      • view your reported values and caps.
You can contact the Australian Financial Complaints           If you have lost or forgotten your secure Access Number,
Authority in one of the following ways:                       you can reset it in the Member Services Online login area
Email:                                        at If you need help with this, or you would like
Phone: 1800 931 678                                           to request any other PSS information, contact us on the
Post: Australian Financial Complaints Authority,              below details.
       GPO Box 3, Melbourne VIC 3001

                                               Email                        Phone                       Fax
                                                1300 000 377                02 6275 7010
How can I get                                  Web                          Overseas callers            Post
more information?                                       +61 2 6275 7000             PSS, GPO Box 2252
                                                                                                        Canberra ACT 2601
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