February 2002 Volume 83 Number 2 "serving the protectors"
Police Super Update www.policesuper.sa.gov.au
By Micheal 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 Pension and Lump Sum schemes respectively into the Employer Account on a fortnightly basis to fund the payment of future employer superannuation benefits. For the year ended 30 June 2001 employer contributions paid by SAPOL to the Employer Account amounted to $22.5 million.

During 2000-2001 the pension and lump sum benefits paid to members, spouses and children totalled $41.8 million. An amount of $32.8 million in respect of the benefits paid was paid from the Employer Account and an amount of $9 million was paid from the Fund.

As at 30 June 2001 the net assets of the Scheme were $446.1 million, which includes the net assets of the Fund ($249.6 million) and the net assets of the Employer Account ($196.5 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%)

• Property (8%)

• Inflation Linked Bonds (13%)

• Fixed Interest Bonds (5%)

• Cash (2%)

Member Information

For information regarding superannuation contact the Police Superannuation Office or refer to the website at the top of the page. Group information sessions can be arranged upon request.

 
Police Superannuation office:
Ground floor, 30 Flinders St, Adelaide, 5000.
Postal Address: GPO Box 1539, Adelaide, 5001.
Internal postcode: 128.
Phone: 8204 2964 or 8204 2965.
Fax: 8204 2303.
E-mail: admin@policesuper.sa.gov.au

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