Unlike most other super funds, Gold State Super is a defined benefit scheme and it is guaranteed by the WA State Government. As a member, this gives you greater certainty of how much you'll have when you retire.

You probably already know that we use a fixed (or 'defined') formula to work out your Final Benefit. As well as your contributions to Gold State Super, we take into account your remuneration and service while you are employed in the WA public sector.

However, what you may not know is how some of the choices you make now could impact your future benefit and entitlements.

Here are 5 key factors that you should consider before making any decisions on your super or working arrangements while you are a member.

1. Your super contributions

Your employer automatically makes contributions to your super from your pay. You can choose to contribute 3%, 4%, 5%, 6% or 7% of your salary to your super. These contributions can be made either from your after-tax salary or from your before-tax salary by agreement with your employer (known as 'salary sacrifice').

The rate you contribute over your entire membership period is known as your 'Average Contribution Rate'. Most members cannot exceed an Average Contribution Rate of 5%¹. If you maintain an Average Contribution Rate of 5%, you will receive the maximum contribution from your employer to help grow your benefit.

If you've contributed 3% or 4% in the past, you can 'catch up' by contributing 6% or 7%, until your Average Contribution Rate reaches 5%.

To find out what your Average Contribution Rate is, check your last Member Statement or call your Member Services Centre on 13 43 72. For more information on contributing to your super, please read the Gold State Super essentials brochure.

2. Changing to part time or casual work

Reducing your hours of work has no effect on the remuneration we use to work out your final Gold State Super benefit. This is because your remuneration is based on your equivalent full-time salary, regardless of whether you work full time or part time.

However, your Gold State Super benefit will grow at a slower rate, in line with your reduced hours.

Choosing to work on a casual basis may mean that you'll no longer be eligible to remain a Gold State Super member. To find out more, please call your Member Services Centre on 13 43 72.

For more information on what happens to your benefit when you work part time, please read the how working part-time affects your Gold State Super FAQ.

3. Taking unpaid leave

At some point during your career, you may need to take unpaid leave. This could include, for example, sick leave or extended leave taken for an overseas holiday.

Any period of unpaid leave that is less than three months, regardless of the reason, will not impact your benefit. You'll still need to contribute to your Gold State Super account during this time.

However, if you take unpaid leave for longer than three months, your benefit may be affected. The impact will depend on the reason for your leave and how it is treated by your employer. For more information, please read the how unpaid leave affects your Gold State Super FAQ.

4. Changes to your salary or allowances

As a general rule, Gold State Super remuneration only includes permanent, ongoing salary payments, such as your base salary and salary packaged amounts. Irregular or temporary payments, such as bonuses, Higher Duties Allowances and any extra salary you earn while on secondment, are usually excluded from your remuneration.

There are some circumstances where special allowances and secondment salary can be included as part of your remuneration when we calculate your Final Benefit. For more information, please read the what is included in Gold State Super remuneration? FAQ.

If your remuneration is reduced as a result of changes to your job or working arrangements in the WA public sector, you may be eligible to apply for salary maintenance. This would allow you to maintain your contributions and remuneration at the level of your previous, higher salary. For more information, please read the what is salary maintenance and how does it work? FAQ.

5. How and when you access your super

Another key feature of Gold State Super is that it is untaxed, which means you do not pay tax on your contributions. Instead, your benefit is taxed when you decide to access it, once you are eligible.

Most members can access their Gold State Super account when they turn 55 and have stopped working in the WA public sector, or have returned to the WA public sector to work less than 10 hours per week.

However, your benefit will be taxed according to your Commonwealth preservation age, which is higher than the age you can access your super. You're likely to pay more tax if you access your benefit before you reach your Commonwealth preservation age. To find out your Commonwealth preservation age and what it means for you, please read our article: Shedding light on changes to Commonwealth preservation age. 

You're also taxed differently depending on how your benefit is paid to you. Your benefit can be paid to you in full (known as a lump-sum payment), or you can transfer it to another super fund or a retirement income product (such as our Retirement Income Pension).

Before you make any decisions to access your benefit, it's important to have all the facts. For this reason, you should consider seeking personal financial advice that's tailored to your needs. By understanding how your choices could impact you, you'll be much better placed to keep your super on track and make more informed decisions on your retirement.

Need more help with your super or retirement?

We have a range of resources to help you take the next steps towards maximising your Gold State Super and planning your life after work:

1. Register for one of our retirement planning seminars or webinars, which are included with your membership
2. Learn more about our Retirement Income Pension which can be taken as either an RI Allocated Pension or Transition to Retirement Pension
3. Contact us to arrange a one-on-one Retirement Options Service appointment with one of our experienced consultants

1 In some circumstances, it is possible to increase your contribution rate above 5%, for example, if you are a Police Officer, a Magistrate or an Industrial Commissioner (as defined in the State Superannuation Regulations 2001), or when you have taken Recognised Unpaid Leave and you chose not to pay any contributions. For more information, please read the Gold State Super essentials brochure.