Employer contributions to the Police Superannuation Scheme

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

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 employer share of future superannuation benefit payments. The member share of future superannuation benefit payments is funded from the Fund. For the year ended 30 June 2002 employer contributions paid by SAPOL to the Employer Account amounted to $22.7 million.

During 2001-2002 the pension and lump sum benefits paid to members, spouses and children totalled $37.8 million. An amount of $28.7 million was paid from the Employer Account in respect of the benefits paid and an amount of $9.1 million was paid from the Fund.

As at 30 June 2002 the net assets of the Police Superannuation Scheme were $412.8 million, which included the net assets of the Employer Account ($179.8 million) and the net assets of the Fund ($233 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%	Inflation Linked Bonds	13%
Australian Shares	34%	Fixed Interest Bonds	5%
Property	8%	Cash	2%

Member information

For information regarding superannuation, contact the Police Superannuation Office or refer to the website above. Access to the website is now available on the SAPOL Intranet under Services, Business Service, FMSB. 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
SAPOL Intranet: Police Superannuation,
Services, Business Service, FMSB.