Resigning? What happens to your super?
Leaving your job can significantly affect your super and insurance cover. Understanding your options can make a real difference down the line.
When you leave your job, why not stay with PSSap?
We want to help you understand your super options when you leave a job, because your decisions can make a real difference to your retirement.
Under the Superannuation Amendment (PSSAP Membership) Act 2020, once you have been employed with an eligible employer (such as the Australian Public Service) for at least 12 continuous months, you can contribute to your PSSap account even after you leave that employer.
This means:
- you’ll have the advantage of having your super in our 10-year, platinum-rated 'best value for money' super scheme1.
- you’ll be able access our investment expertise.
- you’ll have access to PSSap's exclusive and flexible lifePLUS cover insurance.
- you’ll also have access to CSC’s outstanding products and services, like our super education program and financial advice.
1. As assessed and rated by SuperRatings Pty Ltd (ABN 95 100 192 283) on 30 June 2019. SuperRatings is an independent research house that assesses super funds. Past performance is not indicative of future performance. See the SuperRatings Fundamentals report for PSSap for more details.
How to keep your super in PSSap
PSSap Letter of compliance
You can give this letter to your employer as evidence PSSap is a complying super fund
PSSap Super Choice Form (For new customers)
Nominate PSSap as your super account with this super choice form. This form is only for new customers.
Or transfer your super to another fund
You can transfer some or all of your PSSap super to another super fund at any time. You’ll find the instructions on our Withdrawing your super form.
Note that if you want to transfer part of your super to another fund, you must leave a balance of $6,000 or more in your PSSap account.
Need some help with that?
If you have any questions about your super money, we’re just a phone call away. You can reach us on 1300 725 171.
Understanding your options when you leave a job can make a real difference to how your super performs in the long term.
Under the Defence Legislation Amendment (Miscellaneous Measures) Act 2020, you may be able to contribute to your ADF Super account even after you leave the Australian Defence Force.
This means:
- you’ll have the advantage of having your super in CSC's 10-year, platinum-rated 'best value for money' super scheme1.
- you’ll still be able access CSC’s investment expertise. (It’s worth noting that our investment team is highly regarded in Australia and around the world for its stewardship of an integrated approach to investment risk management.)
- if you’re leaving the ADF, you may be eligible for ADF’s lifePLUS Protect insurance cover, which gives you automatic Death and Total and Permanent Disability cover, as well as the option to apply for Income Protection Cover through your super
- if you’ve already left the ADF you have lifePLUS Protect cover, you can continue to keep this cover for as long as there is enough in your account to cover insurance premiums and fee deductions
- you’ll also have access to CSC’s outstanding products and services, like our super education program and financial advice.
Why it makes sense to stay with us after you’ve left the ADF
As a former ADF member with at least 12 months’ continuous service, you can keep your ADF Super account for life—even after you’ve left the ADF. Your new employer can contribute to your ADF Super account, just let them know that’s what you’d like to do.
You’ll also be automatically covered by lifePLUS Protect, our insurance product that’s designed especially for ex-serving personnel. It includes Death and Total and Permanent Disablement (TPD) cover, and optional Income Protection insurance.
After you’ve left the ADF, we’ll contact you with the details of the insurance cover you’re eligible for, including how much it costs. You’ll have 60 days to decide whether you’d like to opt in or opt out of the insurance cover.
Or, you can transfer your super to another fund
You can transfer some or all of your ADF Super to another super fund at any time. You’ll find the instructions on our Withdrawing your super form.
Need some help?
If you have any questions about your super, we’re just a phone call away. You can reach us on 1300 203 439.
All or part of your super benefit can be paid to you when:
- you retire permanently on or after your preservation age (generally 60)
- you stop employment on or after age 60
- you reach age 65 (even if you're still working).
Your super benefit in ADF Super is valued and declared in units. When you withdraw super from ADF Super, you cash in or redeem your units at the applicable daily unit price on the business day your application is processed (which may not be the same day you request to withdraw).
We'll process your withdrawal request and pay your eligible benefit using the unit price applicable to your investment option or mix of options.
New job, same great super fund
You can keep PSSap as your super provider even if you aren't working in the Australian Public Service. All you need to do is tell your new employer that you want them to pay into your PSSap account. To be eligible, you must have worked for an eligible employer (such as the Australian Government) for at least 12 continuous months.