On 19 December 2014, the NSW Government proclaimed the State Authorities Non-contributory Superannuation Amendment Act 2013 and related Regulations which provide for an additional State Authorities Non-contributory Superannuation (SANCS) benefit of 0.25% p.a. of salary from 1 July 2013, increasing to 0.5% p.a. of salary from 1 July 2014, to relevant employees who are active members* of the following schemes:
- State Authorities Superannuation Scheme,
- Police Superannuation Scheme, and
- State Superannuation Scheme.
State Super is working with our administrator and the Government to develop and implement the system and process changes that are required to facilitate the required benefit adjustments to the relevant employees' accounts.
The additional benefit, plus any accrued interest owing due to the late payment of the benefit, will be paid retrospectively to all relevant employees who are active members* of the above mentioned schemes.
We will continue to keep members informed of progress in this matter via the 'Latest News' section of this website.
*This includes relevant employees who were active members and exited one of the above Schemes after 1 July 2013.