Super SA Pension Scheme (Defined Benefit)

Overview

The Super SA Pension Scheme is a legacy defined benefit scheme that closed to new members in 1986. Unlike modern accumulation super funds, where your balance fluctuates with investment performance, this scheme provides a lifetime indexed pension based on your salary and length of service.

Key Features

  • Lifetime Income: Guarantees a steady income for life, protecting against market volatility and longevity risk.

  • CPI Indexation: Pensions are generally adjusted twice yearly in line with the Consumer Price Index (CPI), helping preserve purchasing power.

  • Reversionary Benefits: A portion of your pension (typically 2/3rds) may be paid to an eligible spouse upon your passing.

Who It May Suit

  • Long-term South Australian public sector employees who joined before May 1986

  • Members seeking maximum income security in retirement

How ODV Private Wealth Can Help

The Pension Scheme is highly structured, but there are important strategic decisions that can optimise your outcomes. ODV Private Wealth assists clients by:

  • Commutation Analysis: Helping you decide whether to exchange a portion of your lifetime pension for a tax-free lump sum at retirement

  • Cash Flow Modelling: Comparing the long-term value of your lifetime pension versus taking a lump sum and rolling it into the Super SA Income Stream

  • Death Benefit Planning: Navigating reversionary pension rules to ensure your family is properly protected

Documents and Resources

Access the latest official Pension 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.