SSS is a defined benefit scheme that pays pensions, lump sums or a combination of the two. By deferring your benefit you have preserved these pension options.
Once you reach age 55, you have the opportunity to start your pension.
Conditions on the type of benefits you can access do apply, but for many deferred members this represents an excellent opportunity to access additional income while you are still working and to accelerate your retirement savings by utilising salary sacrifice strategies. These strategic opportunities are a result of the recent Better Super legislation implemented in July 2007.
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Related InformationFor more information see the following fact sheets on the State Super website: |