Super SA Lump Sum Scheme

Overview

The Super SA Lump Sum Scheme is a defined benefit scheme that was closed to new members in 1994.

Unlike accumulation super funds where outcomes depend on investment performance, benefits under this scheme are calculated using a formula based on salary, years of service, and personal contribution rates.

Key Features

  • Formula-Based Benefits
    Retirement benefits are typically calculated as a multiple of your Entitlement Superannuation Salary (ESS).

  • Points System
    Members accumulate points based on their length of service and contribution rate, usually earning one point per month of full-time service.

  • Untaxed Scheme
    Employer contributions and investment earnings are not taxed while the funds remain within the scheme.

  • Strong Employer Contribution
    The scheme contains a significant employer-funded component, often making it one of a member’s most valuable financial assets.

Who It May Suit

  • Long-term public sector employees who joined before May 1994

  • Members seeking a benefit structure less sensitive to market volatility

  • Individuals with significant accumulated defined benefit entitlements

How ODV Private Wealth Can Help

The Lump Sum Scheme is one of the most complex products within the Super SA structure.

ODV Private Wealth assists members by:

  • Advising on contribution rate adjustments to increase point accumulation

  • Assessing the optimal retirement timing based on salary and service milestones

  • Managing the Member Account investment strategy for personal contributions

  • Structuring Transition to Retirement strategies for defined benefit members

Documents and Resources

Access the latest official Lump Sum Scheme documentation via the Super SA portal:

Why Professional Advice Matters

While Super SA provides excellent schemes, they do not offer personal financial planning. Their role is to provide information about their products, not to tell you which strategy is right for your life.

At ODV Private Wealth, we bridge that gap. We look at your Super SA entitlements in the context of your entire financial world — your family goals, other assets, and your retirement dreams — to provide strategies that work specifically for you.

Advisory Fees – What to Expect

Professional financial advice is an investment in your future. To ensure you receive a comprehensive and tailored review of your Super SA position, we charge an initial consultation fee of $330.00 (inc. GST).

During this session, we:

  • Review your specific scheme entitlements

  • Identify potential risks or opportunities (such as insurance gaps or tax caps)

  • Provide a clear, actionable path forward

If you choose to engage us for ongoing advice or a full Statement of Advice, this fee may be credited toward your total project cost.

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General Advice Disclaimer
The information on this website is general in nature and does not take into account your personal objectives, financial situation, or needs. You should consider whether the information is appropriate for you and read the relevant Product Disclosure Statement (PDS) before making any investment decision. ODV Private Wealth Pty Ltd ABN 28 679 606 583 | Corporate Authorised Representative (No. 001313599) of Humble Goode Financial Pty Ltd AFSL 349026.