Make smart decisions about your super in a defined benefit scheme
Retirement planning can be unnerving or overwhelming for some. Because of this, many people find themselves delaying plans for this important milestone. Retirement, especially from the public sector, means different things to many Australians. In 2014, Aware Super (formerly StatePlus) conducted research as part of a program to explore the financial attitudes of 2,500 public sector employees.
More than 40% of people want to keep working in their retirement – either part time (24%) or casually (18%). Just one in five are committed to stopping work completely and more than 50% plan to do voluntary work1
1CoreData April 2014. Sample of 2496 public sector employees. The majority of those surveyed were in the 45- 64 age group.
Regardless about how you would like to approach retirement don’t wait to start planning, even if you want to continue working.
Start with understanding your superannuation scheme
If you’ve been in the public sector a long time, some of your super may be in a defined benefit public sector scheme.
Defined benefit super schemes are notoriously complex. But that doesn’t mean you have to be left in the dark. A specialised financial planner can help you understand your options and make smarter decisions.
There are a number of defined benefit schemes available to public sector employees across Australia, including:
- Commonwealth Superannuation Scheme (CSS)
- Public Sector Superannuation (PSS)
- Police Super Scheme (PoliceSS)
- Gold State Super (GSS)
- State Authorities Superannuation Scheme (SASS)
- State Superannuation Scheme (SSS)
Your Aware Super planner has expertise in retirement and public sector schemes, and can guide you throughout your retirement. Our priority is to give you peace of mind that you’ll have enough money to meet your unique dreams and needs.
If, like most Australians, some of your superannuation is in an accumulation fund, we can help you make the most of it as well.