P1995-36 Superannuation Implications for Officers Commencing Salary Maintenance

Superannuation Implications for officers commencing salary maintenance (Circular to all Chief Executive Officers)

I refer to the impact that salary maintenance might have on the superannuation entitlements of former members of the senior executive service and other officers who have access to the Public Sector Executives Superannuation Scheme (PSESS).

It is very possible that these former senior officers may experience a reduction in their superannuation benefits in the State Superannuation Fund, the State Authorities Superannuation Scheme and the Police Superannuation Scheme at the end of the salary maintenance period. This reduction in benefits may be the result of a decrease in the superable salary at the end of the period of salary maintenance. For this reason it is important that appropriate action is taken by them before their access to PSESS ceases.

This is a matter for each officer to consider in light of their personal circumstances. Once it is known that officers are to be removed from their senior executive positions, they should be advised to contact the PSESS Secretariat on (02) 238 5642 or the State Super Advisory Service on (02) 238 5169 as soon as possible so that they have sufficient information and time to evaluate their options.

It would be appreciated if you would ensure that the above is brought to the attention of all senior officers and other appropriate staff as soon as possible.

Ken Cripps
Commissioner

Date: 25 October 1995