Defined Benefits

If you're in a defined benefit scheme, you have special conditions that apply to your ElectricSuper account.

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Defined Benefits

As a Defined Benefit member in one of these schemes:

Division 2 (Lump Sum Scheme)
Division 3 (Pension Scheme)
Division 4 (RG Scheme)

you are expected to make contributions to your super.

You can contribute at a rate that suits you best, but you need to achieve a set average rate of contributions over your working life to receive the maximum entitlement.

If you want to change your rate (either your compulsory contributions or your voluntary contributions – or both!), complete this form and send the pdf to your payroll team for action.

Special Defined Benefit Information

A defined benefit with ElectricSuper has special conditions that apply when compared to a standard accumulation-style super account.

The pages below help explain some of those differences.

Contribution tax offset

On privatisation, it was legislated that no member would be worse off under the new super arrangements than they would have been under their previous ETSA super. To help ensure fairness, a Contribution Tax Offset was brought in.

Pension and Centrelink

When you come to claim your Pension (in Division 3, the Pension Scheme), taxation may apply. This page provides you with more information so you can make retirement plans wisely.

Transferring employers

If you are thinking of transferring to another employer in the electricity industry, you need to consider the impact that this could have on your ElectricSuper account and benefit. Find out more here.

You have the option to keep your super with ElectricSuper, even if you leave your electricity employer before age 55. This form gives you the options to take action.

Even though you have a defined benefit account which may dictate who receives the employer portion of your super if you die, you can still nominate who you’d like to receive any voluntary contributions you’ve made. Watch our video to learn more.

(1:35 minutes)

Preparing for retirement?

If you are heading towards retirement, there are some steps you can consider before you get to retirement age. Putting steps in place now can make sure you’re prepared when you do come to retire.

View the timeline