Key features
  • No administration costs are incorporated into this formula.
  • No investment risk from APSS’s investment performance.
  • As Superannuation Salary and service increase so too does the value of the super benefit.
Important reminders
  • Adjustments to the above benefits are made for any periods of probationary service (if applicable) and part-time service and for catch up members.
  • Your Defined Benefit is subject to a minimum to ensure the benefit meets the Superannuation Guarantee requirements.
  • The APSS deducts the balance of any offset accounts established for you from your benefit when it becomes payable.
  • Different defined benefit entitlements apply to employee members who have exercised Choice of Fund and 'opted out' of the APSS.
  • Special rules apply during periods of employer-approved leave without pay.

14.3% Defined Benefit

This category of membership provides eligible members with a defined benefit with accrual rates above the Superannuation Guarantee and includes total and permanent disablement (TPD) and death benefits in addition to retirement / leaving service benefits.

Defined Benefit (retirement / leaving service)

14.3% x Final Average Salary (FAS) x years of full-time service with Australia Post or your Associated Employer.

Part-time service
During periods of part-time service, your Defined Benefit is calculated using the full-time equivalent of FAS multiplied by your service fraction (that is, your hours of part-time service expressed as a fraction of the hours of full-time service).

TPD and Death Benefit

  • You may be eligible for this benefit if you become TPD or die while you are employed by Australia Post or an Associated Employer before age 60.
  • The cost of this benefit is met by Australia Post or your Associated Employer.
  • If eligible, the additional benefit is an amount equivalent to 14.3% of FAS for each year of potential membership between the date of TPD or death and your 60th birthday.

Catch Up members

If you were a member of the APSS before 1 July 2000 and you did not make average member savings of 5% p.a. of after tax pay into the APSS before this date, you may be yet to 'catch-up' to the maximum Defined Benefit that you could be entitled to.