Gold State Super

Gold State Super is a super scheme that was open to WA public sector employees until 1995.

Gold State Super is a defined benefit super scheme, which means your final Gold State Super benefit is determined by applying a fixed, or 'defined', formula. Gold State Super is not market linked, and so is not impacted by the performance of investment markets.

Exclusive benefits of Gold State Super

Your Gold State Super account is a rare scheme closed to new members with exclusive benefits, including:

  • Benefit guaranteed by the WA State Government.
  • Gold State Super is an untaxed fund, which means you don't pay tax until your benefit is paid to you or rolled over to a taxed fund.
  • Defined benefit, which means you can be certain of how much you will have when you retire, as Gold State Super is insulated from the performance of investment markets.
  • No fees.
  • Automatic death and disability insurance at no cost.
  • Accumulate up to $1.205m* in concessionally taxed benefits.
  • Maintain benefits at a higher salary level, when a change in employment conditions results in a lower salary.

 

*Lifetime limit, indexed annually. Please refer to our Tax and your super fact sheet for further information.


How your Gold State Super benefit is calculated

To calculate your final Gold State Super benefit, we multiply your Service Multiple by your Final Remuneration:

Service Multiple = (Completed months of service/12 ) x 20% x (Average Contribution Rate/5)

Service Multiple x Final Remuneration = Final benefit

If you have any queries about your Gold State Super account or if you would like us to calculate a current benefit estimate for you, please contact your Member Services Centre on 13 43 72.

 

Definitions
Completed Months of Service
is your months of Equivalent Full-Time Contributory Service in Gold State Super.
Average Contribution Rate is the average percentage rate at which you contributed during your Gold State Super membership.
Final Remuneration is your average salary based on three key dates during your last two years of membership of Gold State super. For part-time employees, your Final Remuneration is based on your equivalent full-time salary.

Maximise the potential of your Gold State Super

Gold State Super is a unique account with some exclusive benefits. To help maximise the potential of your Gold State Super, we encourage you to contact your Member Services Centre on 13 43 72.

For more information download the Gold State Super essentials booklet, and other Gold State Super fact sheets.

Gold State Super essantials booklet

More information

Extra contributions now means a better life in retirement.

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