August 1999 Volume 80 Number 8
"serving the protectors"
| August 1999 Volume 80 Number 8 "serving the protectors" |
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| Police Super Update | |
| By Michael
Hogg |
If you resign from the police force prior to age 50 and you are a member of the Police Superannuation Pension or Lump Sum Superannuation Fund, you have important options to consider. You will have the option to:
- Preserve a superannuation benefit (pension and/or lump sum) which will become payable once you attain age 55.
- 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 fund if you preserve your superannuation benefit. The preserved benefit is payable to you once you have attained age 55. The preservation benefit is payable prior to age 55 in the event that you become totally and permanently incapacitated for work or in the event of your death when a benefit is payable to your spouse and/or eligible child(ren) or 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
Members who require any information regarding superannuation should 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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