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If you were a permanent or non-permanent employee of Australia Post or an Associated Employer before 30 June 2012, you are likely to be an APSS employee member. This means you belong to an exclusive group of Australian workers who continue to have an entitlement to ‘defined benefit’ superannuation. This is valuable because you don’t have to worry about a financial crisis or volatile markets reducing the value of that super benefit – your employer takes all the investment risk; not you. This is quite different in an APSS Member Savings account if you chose to have one.

Member Savings

'Member Savings' include money you choose to save voluntarily in an APSS Member Savings account. This is completely voluntary. The balance of your Member Savings account will be in addition to your DB.

Opening a Member Savings account

Generally, you will need to be under age 65 and have supplied your Tax File Number (TFN). You can contribute between ages 65 and 74 as long as you are employed in the paid workforce on at least a part-time basis, which means at least 40 hours in a period of 30 consecutive days during the most recent financial year. To open an account, refer to the Save more with Member Savings section of your Product Disclosure Statement.

What you can contribute

Contributions to your Employee Account can include:

  • regular contributions from your before-tax salary (i.e. salary sacrifice)
  • regular contributions from your after-tax salary
  • other contributions of after-tax money
  • amounts transferred from other superannuation funds (rollovers)
  • Government co-contributions (if eligible).

Investing your Member Savings account

You have a choice of four investment options for the investment of your Member Savings account balance.

Other Member Savings accounts you can open

  • You can open a Member Savings account for your spouse (who doesn’t have to be an employee).
  • You can start an APSS Pension if you wish to transition to retirement
  • APSS Rollover and Pension accounts allow you to continue your APSS membership when you leave employment or cease to be an eligible spouse.