Feb 2001 Volume 82 Number 2 "serving the protectors"
Police Super Update
By Michael Hogg

Thinking of resigning from the Police Force? STOP!

You need to consider your Superannuation options carefully!

If you are thinking of resigning from the police force, are under age 50 and a member of either the Police Superannuation Pension or Lump Sum Superannuation schemes, you have very important options to consider. You will have the option to:

1. preserve your accrued superannuation benefit (pension and/or lump sum) which will become payable once you attain age 55; or
2. elect to receive a cash withdrawal of your contributions plus interest plus a preserved lump sum benefit based on the minimum Superannuation Guarantee employer contribution.

If you resign prior to age 50 you should give serious consideration to preserving your superannuation benefit. Preservation of your accrued superannuation benefit means you will retain all of your employer financed superannuation entitlement. This will provide you with a valuable asset for your future retirement by way of a CPI indexed pension for life and/or a lump sum.

No further contributions are payable to the Scheme if you preserve your superannuation benefit. The preserved benefit is payable to you once you have attained age 55. The preservation benefit is only payable prior to age 55 in the event that you become totally and permanently incapacitated for work or in the event of your death. In the event of your death the benefit is payable to your spouse and or eligible child(ren) or to your estate.

Seek advice and consider your options carefully! For further information regarding preservation of benefits do not hesitate to contact the Police Superannuation Office. All inquiries are strictly confidential.

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.

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