Gold State Super deferred benefits

When you stop contributing to your Gold State Super account permanently, we 'defer' payment of your benefit or 'preserve' your funds in Gold State Super until you are eligible and ready to access your super.

This can happen when you:

If you were a member of a past WA public sector scheme, such as the WA Public Sector Pension Scheme or the Non-Contributory Service Scheme, your account may also include deferred benefits that were transferred to Gold State Super when these schemes closed. 

Your length of service, which is one of the factors we use to work out your Final Benefit, no longer accrues once your membership is deferred.

When you stop contributing to your Gold State Super account, we calculate your Final Benefit using your contribution history and information from your employer. These funds remain in GESB in a Gold State Super deferred account until you are eligible and ready to access your benefit.

Your benefit components

Your Gold State Super deferred benefit may be made up of the following components:

  • Contributory Service Benefit - your Gold State Super benefit including your personal and employer contributions
  • Non-contributory Service Benefit (previously called productivity service) - your past service in the Non-contributory Service Scheme, which was transferred to Gold State Super when the scheme closed
  • Transferred Service Benefit - your past service in the WA Public Sector Pension Scheme, which was transferred to Gold State Super when the scheme closed
  • Transferred Contributions and Interest - your contributions previously transferred from the WA Public Sector Pension Scheme, plus interest

What happens when your benefit is deferred?

Your Contributory Service Benefit, Non-contributory Service Benefit, and Transferred Service Benefit are indexed annually at a salary growth rate equivalent to the Perth Consumer Price Index (Perth CPI)1 plus 1% pa until you turn 55, and at Perth CPI1 plus 2% p.a. thereafter.

Any Transferred Contributions and Interest can be refunded to you if you are under 55, or preserved in the fund. If you decide to preserve this portion of your benefit, it will be indexed annually at Perth CPI1 plus 2% p.a.

Once you turn 55, however, the option to receive payment of only the Transferred Contributions and Interest is no longer available. The total account balance must be paid.

Benefits from other funds, including Surplus Benefits, accrue interest at CPI1 plus 2% p.a.

For your convenience, the Perth CPI1 rates for the 2016/17, 2015/16, 2014/15 and 2013/14 financial years are below.

Financial year  Perth CPI1 rate 
2016/17 0.75%
2015/16 1.42%
2014/15 3.13%
2013/14 2.40%

The applicable Perth CPI rate is also available in your Gold State Super deferred Member Statement.

Your insurance cover for Death and Total and Permanent Disablement ceases when your Gold State Super membership is deferred. If you wish to replace your insurance, you need to make your own arrangements.
 
If you need more information, please call your Member Services Centre on 13 43 72.

When can I access my deferred benefit?

While you have options to access your benefit in Gold State Super from age 55, your benefit is taxed according to your Commonwealth preservation age, which is different to the age you can access your benefit. Your Commonwealth preservation age is dependent on your date of birth. You may pay more tax if you access your benefit earlier than your Commonwealth preservation age. For more information, refer to the Gold State Super essentials brochure.

Your age / event  What happens to your benefit
Under 55 years of age
 

You accept voluntary severance or are made redundant from the WA public sector

 

We preserve your benefit in Gold State Super until you reach age 55 and (if you return to the WA public sector) you are working less than 10 hours a week.

You can elect to have your benefit rolled over. If you have your benefit rolled over before you turn 55, a discount factor will apply to the Contributory Service Component of your benefit 2 

You resign from the WA public sector

We preserve your benefit in Gold State Super until you reach age 55 and (if you return to the WA public sector) you are working less than 10 hours a week.

You withdraw from Gold State Super

We preserve your benefit in Gold State Super until you reach age 55 and you have either stopped working in the WA public sector, or you are working less than 10 hours a week in your public sector position.

You were previously a member of the WA Public Sector Pension Scheme

Your Transferred Contributions and Interest can be paid to you on completion of your WA public sector employment3.

Your Transferred Service Benefit and Contributory Service Benefit are preserved until you reach age 55 and you have either stopped working in the WA public sector, or (if you have returned to the WA public sector) you are working less than 10 hours a week.

You were previously a member of another WA public sector scheme

We preserve your benefit in Gold State Super until you reach age 55 and you have either stopped working in the WA public sector, or (if you have returned to the WA public sector) you are working less than 10 hours a week.

55 years of age or over  

You accept voluntary severance or are made redundant from the WA public sector

We treat this as normal retirement and you have full access to your benefit.

You can take a lump sum, roll over your benefit to another complying super fund or preserve your benefit in Gold State Super.

You resign from the WA public sector

We treat this as normal retirement and you have full access to your benefit.

You can take a lump sum, roll over your benefit to another complying super fund or preserve your benefit in Gold State Super.

You withdraw from Gold State Super

You are entitled to access your benefit when you have either stopped working in the WA public sector, or you are working less than 10 hours a week in your public sector position4.

You can take a lump sum, roll over your benefit to another complying super fund or preserve your benefit in Gold State Super.

You were previously a member of the WA Public Sector Pension Scheme or another WA public sector scheme

You are entitled to access your benefit when you have either stopped working in the WA public sector, or (if you have returned to the public sector) you are working less than 10 hours a week.

You can take a lump sum, roll over your benefit to another complying super fund or preserve your benefit in Gold State Super.


If you meet eligibility criteria, you may access your Gold State Super deferred benefit if you are permanently disabled or suffer from a terminal medical condition. If you die, your benefit will be paid to the Administrator or Executor of your Estate.

Tax is not paid on your Gold State Super benefits until you access your benefit by receiving a lump sum payment, or your benefit is rolled over to taxed super fund or retirement income stream. For more information, see the Tax and super brochure.


Did you know?

If you are currently contributing to Gold State Super and you leave the WA public sector and return within 12 months, you can apply to re-join Gold State Super as a contributing member.

However, if you decide to withdraw from Gold State Super, you will not be eligible to re-join the scheme. You should consider your options carefully, as this decision is irreversible.

We recommend that you consider seeking advice from a suitably qualified adviser before you make a decision.

For more information, contact your Member Services Centre in 13 43 72.

1 Perth CPI calculated in accordance with the State Superannuation Regulations 2001.

2 If you have your benefit rolled over before you turn 55, the Contributory Service Component of your benefit is subject to a discount factor of 1.75% p.a. for every year you are under 55. For more information call your Member Services Centre on 13 43 72.

3 Important: if you are under 55 and transferred from the WA Public Sector Pension Scheme, you can elect to receive the Transferred Contributions and Interest component of your benefit once you stop working in the WA public sector.
There are tax implications if you choose to receive the Transferred Contributions and Interest component of your benefit as cash before you have reached your Commonwealth preservation age. Please note that the tax treatment of your benefit is impacted by your age, in particular your Commonwealth preservation age if you are under 60. All other funds must be preserved in Gold State Super until you reach 55 years of age. Under some circumstances, withdrawing the Transferred Contributions and Interest component of your benefit will result in your Transferred Service Benefit being forfeited. Please refer to the
Gold State Super essentials brochure or contact your Member Services Centre on 13 43 72 for more information.

4 If you are aged 55 or over and withdraw from Gold State Super but are still working in the WA public sector for more than ten hours a week, you can have restricted access to part or all of your deferred benefit through a Transition to Retirement strategy. For more information, refer to the Transition to Retirement - Gold State Super fact sheet.