Eligible South Australian public sector workers will be able to choose their preferred superannuation fund under new laws that have passed State Parliament.

Most Super SA members, as well as new public sector employees, will be given the option to choose a superannuation fund that suits their personal needs, under new laws that have passed State Parliament.

For many years, membership of the state’s Triple S superannuation scheme administered through Super SA has been mandatory for public servants.

This change in legislation strongly aligns to our commitment to always work in members’ best interests.

In addition to Fund Selection, we will also provide a Limited Public Offer (LPO) to our existing members.  This will enable eligible Super SA members who also work outside the SA Government to direct all their SG employer contributions to our taxed fund, Super SA Select.

Eligible members with multiple employers both within SA Government and outside of SA Government will be able to have all their super in one place.  Super SA will be able to accept employer contributions from non-Government employers.  

Preserved Triple S members will be able to re-activate their Super SA membership and have contributions relating to non-SA Government employment paid into Super SA Select.

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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.

Fund Selection and Limited Public Offer

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Special arrangements have been made for Emergency Services groups such as police and ambulance officers to ensure their compulsory contributions and mandatory levels of insurance are maintained.

Eligible members will also have the ability to transfer existing accumulated account balances via portability to other complying funds.

While legislation has been passed, supporting regulations and trust deed amendments will need to be drafted and made and there are a number of administrative and system changes to be completed before these changes can commence. We expect to bring Fund Selection into effect during 2022.

Click here to read the Treasurer’s press release.