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SRR1PSS 07/18Redundancy Benefit application1. Explanatory notes 2. Form 3. Departmental report form Important information about this form What this form is forth benefit application form and Explanatory.

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How to fill out the AU SRR1-PSS online

This guide provides clear and concise instructions for filling out the AU SRR1-PSS benefit application form online. It aims to assist users, regardless of their legal experience, in navigating each section with confidence.

Follow the steps to complete your benefit application form.

  1. Click the ‘Get Form’ button to obtain the form and open it in the online editor.
  2. Read the Explanatory notes carefully to understand the requirements and processes involved in filling out the benefit application form.
  3. Section A: Begin with your personal details. Enter your reference number, cessation date, title, full name, date of birth, and contact information including postal address and phone number.
  4. Section B: Verify your identity. Choose to either verify your identity electronically or provide certified hard copy documents. Ensure your identification documents total at least 100 points.
  5. Section C: Provide your employment details. Indicate if you are permanently retiring from the workforce or will be employed by a participating employer.
  6. Section D: Choose your benefit option. Remember, you can only select one option for your benefit application.
  7. Section E: Complete any additional benefit instructions if relevant to your situation, including options for surcharge debt repayment or transfer amounts.
  8. Section F: Specify your payment instructions for lump sums and/or rollovers, providing accurate bank account details.
  9. Section G: Fill in your taxation details including your eligible service period start date and Tax File Number.
  10. Section H: Acknowledge the information received by signing in this section.
  11. Section I: Complete the member checklist to ensure all parts of the form are thoroughly filled out.
  12. Once the form is completed, submit it to your personnel area for the departmental report before it is forwarded for further processing.

Complete your AU SRR1-PSS benefit application form online today to ensure timely processing of your benefits.

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Employers pay a fortnightly contribution into PSS, which is the productivity component. The amount is based on an individual member's super salary. The remainder of the employer component is notional and is determined when a member ceases contributing to the scheme.

PSS is a defined benefit scheme. On retirement, customers can usually convert 50% or more of their final benefit accrual to a lifetime non-commutable indexed pension , paid by the Australian Government. Any remaining balance, as well as any transfer amounts, will be paid as a lump sum.

While PSS is basically a pension scheme, at certain times you have an option to commute all or part of a pension entitlement to a lump sum. Benefits tax is not payable on superannuation benefits paid when you are over the age of 60. If you are under 60 when your pension is paid, you may have to pay tax.

What is my MBL? Your PSS MBL is the maximum amount of defined benefit (FAS x ABM) that you can accrue as a contributing member. Depending on your FAS, your MBL will be either a dollar amount or a multiple. MBL thresholds are adjusted in line with Average Weekly Ordinary Time Earnings* (AWOTE) on 1 July each year.

How do I calculate my PSS pension? Your PSS pension is determined by dividing your final retirement benefit into a factor based on your age. At age 55, this factor is 12, at age 60 it is 11 and at age 65 it is 10.

What is the PSS Super 10 year rule? For the first 10 years of service with a PSS contributing employer, they will match up to 5% of your personal contributions. After the completion of 10 years of service, the employer will match up to 10% of your personal contributions.

PSS = Professional and Support Staff.

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