Dec 2001 Volume 82 Number 1 "serving the protectors"
By Michael Hogg

Employer Contributions to the Police Superannuation Scheme

The Police Superannuation Scheme (the Scheme) is made up of the Police Superannuation Fund (the Fund) and a Police Employer Account (Employer Account). Fortnightly employee superannuation contributions are paid into the Fund and fortnightly employer superannuation contributions, from SAPOL, are paid into the Employer Account.

SAPOL pays an employer contribution for members of the Police Superannuation Pension and Lump Sum schemes respectively into the Employer Account on a fortnightly basis to fund the payment of future superannuation benefits. For the year ended 30 June 2000 employer contributions paid by SAPOL to the Employer Account amounted to $22.9 million.

During 1999-2000, the pension and lump sum superannuation benefits paid to members, spouses and children totalled $37.8 million. An amount of $29.3 million in respect of the benefits paid was paid from the Employer Account and an amount of $8.5 million was paid from the Fund.

As at 30 June 2000 the net assets of the Scheme were $410.1 million, which includes the net assets of the Fund ($245.5 million) and the net assets of the Employer Account ($164.6 million).

Funds SA has the responsibility for the investment of the Scheme, which includes the Fund (member contributions) and the Employer Account (SAPOL contributions). Superannuation contributions (Employee and Employer) are invested by Funds SA in the following types of investments or asset classes and allocations:

• International Shares 38%
• Australian Shares 34%
• Inflation Linked Bonds 13%
• Property 8%
• Fixed Interest Bonds 5%
• Cash 2%

Member Information

For information regarding your superannuation please contact the Police Superannuation Office. Group information sessions can be arranged upon request. Phone: 8204 2964 or 8204 2965. Fax: 8204 2303. E-mail: polsuper@adelaide.on.net.

Happy New Year

The Police Superannuation Board and the staff of the Police Superannuation Office wish all serving and retired members and their families a happy New Year.

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