Any financial product advice in this document is general advice only and has been prepared without taking account of your personal objecves, financial situaon or needs. Before acng on any such

general advice, you should consider the appropriateness of the advice, having regard to your own objecves, financial situaon and needs. You may wish to consult a licensed financial advisor. You

should obtain a copy of the PSSap Product Disclosure Statement and consider its contents before making any decision regarding your super.

Commonwealth Superannuaon Corporaon (CSC) ABN: 48 882 817 243 AFSL: 238069 RSEL: L0001397

Trustee of the Public Sector Superannuaon accumulaon plan (PSSap) ABN: 65 127 917 725 RSE: R1004601

What is in this fact sheet?

• What you should know upfront

• How is my super benefit calculated?

• How do I claim my super benefit?

• Can I get my super benefits for emergencies?

• How is my PSSap super benefit paid?

• How will my lump sum be taxed?

• How do I convert my lump sum to an income stream or pension?

• Can I transfer my super benefit over to another super fund?

• Financial advice for your needs and goals

• How do I get more information?

What you should know up front

It is important that you read the disclaimer below.

Withdrawing

How is my super benefit calculated?

Your PSSap account is valued and declared in units. Your contributions (whether made by you or your employer), less any

tax that may apply, are used to buy units in PSSap. Each time you or your employer contributes, you buy more units. It’s

similar to buying shares in a company.

The value of the units you hold is based on the ‘sell’ price of those units in the respective investment option(s) that applies

If you have access to the internet, you can log on to csc.gov.au and download a Benefit application form to complete.

Alternatively you can contact us and we will send you a copy.

Once we receive your valid withdrawal request, we will process your request using the unit price applicable to your

investment option/s on the business day that the request is processed.

The PSSap Rules and the Superannuation Industry (Supervision) Regulations 1994 (SIS Regulations) set out the conditions

of release that must be satisfied before your super benefits can be claimed. Generally, you must have reached your

preservation age before you can claim your superannuation benefit. However, this is not always the case and you should

consider seeking professional advice to properly understand your options based on your personal circumstances.

Your PSSap benefit may consist of up to three components:

You can withdraw your super benefit*:

• when you permanently leave the workforce on or after age 60

• if you retire on or after your preservation age as set out in Table 1

• if we have approved your invalidity retirement and certified that you are entitled to receive invalidity benefits

• if you suffer severe financial hardship or are eligible on compassionate grounds as determined by the Regulator

• if you leave the APS and your PSSap super account balance is $200 or less.

If you are a temporary resident or former temporary resident, you can withdraw your super benefit*:

• if you have permanently left Australia after having been a temporary resident on a specified class of visa

• if you become permanently or temporarily incapacitated

Certain benefits, which are not subject to preservation, may be withdrawn at any time. These benefits may consist of

benefits in relation to which you have previously satisfied a condition of release, or unrestricted non-preserved amounts

you transferred into PSSap.

2 of 4

If your preservation age is less than 60 and you reach that preservation age, you are taken to have retired if:

• an arrangement under which you were gainfully employed has finished

• we are reasonably satisfied that you intend never again to become gainfully employed, either on a full-time or

If you have attained the age of 60, you will be taken to have retired if an arrangement under which you were gainfully

employed has finished and either:

• you attained that age on or before the ending of that employment arrangement; or

• we are reasonably satisfied that you intend never again to become gainfully employed, either on a full-time or

part-time basis.

If you are a former temporary resident who accumulated superannuation while working, you can apply to have

your super funds transferred to your overseas bank account. To do this, you will need to fill in the Application for a

Please do not use the Withdrawing your Super form to initiate this process.

You may qualify for early access to your super benefits on two grounds: financial hardship or specified

You may qualify for a financial hardship benefit release under the following circumstances:

amount in your account is less than $1,000). Only one payment can be released in each twelve-month period.

If you have reached your preservation age plus 39 weeks, and you have satisfied us (CSC), based on written evidence

from a relevant Commonwealth department, that you:

• have received Commonwealth income support payments for a cumulative period of 39 weeks after reaching your

• you were not gainfully employed on a full-time, or part-time, basis on the date of your application.

In such circumstances there are no restrictions on how much of your super balance we can release to you.

Email

Phone

Post

Fax

In very limited circumstances you can apply for the early release of your super on compassionate grounds through the

Australian Taxation Office (ATO). These conditions are set out in the SIS Regulations and cover, for example, expenses

related to medical treatment or medical transport, modification of your principal place of residence to accommodate

special needs arising from severe disability, or to prevent the forced sale of your home by your mortgagee.

The ATO is required to consider and approve any request to release super on compassionate grounds and any withdrawal

request sent to CSC must include notification of the ATO’s approval. Once we have this information we will advise which

benefits we can and cannot release to you. For more information about approval for early access on these grounds, refer to

the ATO website at ato.gov.au

How is my PSSap super benefit paid?

If you have met a condition of release (outlined earlier), you may be able to choose whether to take your benefit as a lump