West State Super

West State Super unique features

Your West State Super account is known as a market-linked accumulation scheme. This makes it similar to most other super funds, including GESB Super. However, one of the things that make it unique is that it’s an untaxed scheme.

It’s important that you know about the tax considerations that apply to your West State Super account. Here are some more details and information about the features of this scheme.

It’s an untaxed scheme

Untaxed does not mean ‘no tax’, so it can be useful to think of it as deferred tax.

In a taxed fund, a 15% tax is applied to employer and salary-sacrifice contributions, and a tax of up to 15% applies to investment earnings. In an untaxed fund, such as West State Super, these contributions and earnings are taxed at 15% when your benefit is paid to you or transferred to a taxed fund.

Learn more about the tax components for West State Super.

Your investment earnings are reported before tax

Having your super invested in an untaxed scheme means that you earn pre-tax investment returns on the full amount of your contributions over the life of your super account.

Most other super funds pay tax and report the returns after investment expenses and tax are taken out. Your West State Super account is different, as your returns are reported after only the investment expenses have been taken out - tax has not been paid yet. This makes it hard to compare the reported investment returns of your West State Super account with most other super funds.

Contribution caps are different compared to taxed funds

With most super funds, concessional (before-tax) contributions made through an employer or by salary sacrifice count towards an annual cap. Any contributions made in excess of this cap are taxable at the member’s marginal tax rate.

Concessional contributions to West State Super and Gold State Super are not capped, but they count towards your cap when making these contributions to a taxed scheme. For example, if you made $50,000 concessional contributions to West State Super (including your employer contributions) you would not be able to make any further concessional contributions to a taxed scheme. An untaxed plan cap of $1.705 million⁴ per super fund applies to the untaxed benefit in West State Super. For more details on your West State Super's untaxed plan cap, see the Tax and super brochure.

Learn more about your West State Super’s untaxed plan cap.

Any tax advantages of West State Super depend on the type of contributions and other factors

Your West State Super account could give you a financial advantage for your concessional (before-tax) contributions when compared to a taxed fund. This means you may receive a higher benefit over time from your employer or salary sacrifice contributions.

On the other hand, the tax arrangements for this type of scheme may result in tax disadvantages for your non-concessional (after-tax) contributions when compared to a taxed fund.

The overall impact on your final benefit will depend on a number of factors, including the type of contributions you make, how your contributions are invested and the length of time your contributions have been invested in your West State Super account.

You can’t receive a low-income superannuation tax offset

The low-income superannuation tax offset (LISTO) is a Commonwealth Government payment of up to $500 per financial year, calculated at 15% of the concessional (before-tax) contributions for individuals on adjusted taxable incomes of up to $37,000.

As contributions to your West State Super account don’t get taxed, any before-tax contributions made into your account are not eligible for this government contribution.

You might be able to access your super if you become disabled

With your West State Super account, you might be able to access you super benefit if you become partially and permanently disabled. This option isn’t available with most other super funds.

For more information on partial and permanent disablement benefits, please refer to page 29 of the Insurance and your super brochure.

Additional statutory insurance may apply

Your level of your Death and TPD benefit may be adjusted if these conditions all apply:

• You’re a covered risk benefits member, as defined in the State Superannuation Regulations 2001 (WA)
• You’re an eligible statutory West State Super member
• You’re under 60 and have not opted out of your Death or TPD cover

We will pay a top up if your entitlement under the state superannuation legislation exceeds the amount payable by the Insurer.

For more information on statutory insurance, please call your Member Services Centre on 13 43 72.

Learn more about your West State Super insurance arrangements.

You might have a Minimum Benefit Guarantee

Before July 2001 West State Super accounts were credited with an annual earnings rate of CPI plus 2%. From 1 July 2001, member investment choice was introduced and West State Super became a market-linked scheme.

If your West State Super account had a balance before 1 July 2001, you have a Minimum Benefit Guarantee. This means that any future benefit will be paid at whichever amount is higher, out of:

• Your account balance at 30 June 2001 plus subsequent contributions and investment earnings
• Your account balance at 30 June 2001 compounded annually at CPI plus 2% less certain types of payments

If this applies to you, you might benefit from the guarantee if you have stopped receiving employer contributions or making personal contributions to your West State Super account.

For more information about the Minimum Benefit Guarantee, please call your Member Services Centre on 13 43 72.

West State Super is closed to new members

If you choose to close your account by cashing in or transferring your entire balance, you can’t re-join the scheme at a later date. If you already have a West State Super account and leave the WA public sector, we can only accept employer contributions if you return to work in the WA public sector and your account is still open.

Find out more about West State Super

• West State Super investments
• West State Super insurance
• West State Super fees and other costs
• West State Super and tax
• West State Super important documents

Or for full details of West State Super, please read the West State Super Product Information Booklet.

1 SuperRatings Smart database as at 31 December 2023. Based on an average balance of $50,000, fees for the My West State Super plan, the My GESB Super plan and the RI Allocated Pension Balanced plan are below the industry median. Fees includes administration, investment, and transaction fees and costs. Fees may change periodically.
2 This includes lost and unclaimed account transfers to the Australian Taxation Office (ATO).
3 If you are a Gold State Super member and currently employed in the WA public sector, you may be eligible to open a West State Super account, provided you have pre-1 July 1983 service.
4 For the 2023/24 financial year, indexed annually in line with Average Weekly Ordinary Time Earnings, in increments of $5,000 rounded down. The untaxed plan cap applies for each untaxed scheme you are a member of.

West State Super investment options

We invest your super across a range of different asset classes to give you the best chance to grow your super. You can have your super automatically invested in the My West State Super plan, or you can choose your investment plan. This means you can:

• Choose the asset classes your super is invested in, from Shares to Cash investments
• Choose how much of your super is allocated between the asset classes
• Change your investment plan to suit your retirement savings goals

Your super might be one of the biggest investments you’ll ever make. The investment plan you choose now can make a difference to the amount of income you’ll have when you retire. You might want to speak with a financial adviser before making a decision about your investment plan.

Different assets can create different returns

West State Super offers you a choice of investment plans. These plans invest in different assets, with the returns linked to the performance of the financial markets.

You can invest in a range of different asset class allocations through our Readymade plans or create your own combination of specific asset classes with Mix Your plan.

You can choose a Readymade plan

There are five Readymade plans with different levels of risk and return expectations.

West State Super Readymade investment plans

For more details, please see investment options - West State Super.

You can choose to Mix Your plan

There are five Mix Your plan options which allow you to select your own mix of asset classes. Find out more about how Mix Your plan works.

West State Super Mix Your plan

For more details, please see investment options - West State Super.

Find out more about choosing the right investment mix for you.

1 SuperRatings Smart database as at 31 December 2023. Based on an average balance of $50,000, fees for the My West State Super plan, the My GESB Super plan and the RI Allocated Pension Balanced plan are below the industry median. Fees includes administration, investment, and transaction fees and costs. Fees may change periodically.
2 This includes lost and unclaimed account transfers to the Australian Taxation Office (ATO).
3 If you are a Gold State Super member and currently employed in the WA public sector, you may be eligible to open a West State Super account, provided you have pre-1 July 1983 service.
4 Mix Your plan Fixed Interest invests in Investment Grade Bonds. These are bonds with a credit quality which is considered to have a relatively low level of default risk by an independent bond-rating agency.

West State Super insurance

As a West State Super member, you may already have insurance through your super.

We offer three types of insurance with your West State Super account:

• Death
• Total and Permanent Disablement (TPD)
• Salary Continuance Insurance (SCI)

Are you eligible to join our Professional and Executive category?

If you’re eligible for our Professional and Executive category, you might benefit by paying lower premiums for your insurance.

Find out if you’re eligible and how to apply for our Professional and Executive category.

Your account may include basic insurance cover

If you’re eligible, you’ll automatically receive what’s known as basic cover, unless you have chosen to opt out or have cancelled your cover. The cost of this insurance is deducted directly from your West State Super account each month.

Generally, to be eligible for automatic cover you need to be:

• Working in the WA public sector
• Receiving Superannuation Guarantee (SG) contributions from your employer, and
• Younger than 65

You don’t automatically receive insurance if you’re a casual

If you’re a casual employee, you may be eligible to apply for cover. Learn more about our insurance options for casual employees.

If you were initially employed on a casual basis and are later made permanent or employed on a contract (not as a casual) with the same employer, we may provide you with Special Conditions Cover, subject to certain eligibility rules, from a date determined by GESB and our Insurer, AIA Australia.

Learn more about Special Conditions Cover in our Insurance and your super brochure.

Types of insurance cover

Types of insurance cover

Insurance type	Insurance benefit	Basic cover
Death	A one-off lump-sum payment in the event of your death (and includes a terminal illness benefit).	Up to $200,000 depending on your age
Total and Permanent Disablement (TPD)	A one-off lump-sum payment if you are totally and permanently disabled and can’t work because of that condition.	Up to $200,000 depending on your age
Salary Continuance Insurance (SCI)	A monthly income of up to 75% of your pre-disability income for up to two years if you become disabled due to sickness or injury. You may also be entitled to a Superannuation Top-Up Benefit.	Up to $4,200 per month determined by the number of hours per week that you work

When you turn 46, the amount you are insured for Death and TPD will decrease each year unless you fix your cover.

Remember to check your insurance

It's important to review your insurance regularly to make sure it’s right for you, especially when your circumstances change.

With insurance through West State Super, you have the option to:

• Increase, decrease or fix your cover 
  You can apply to increase or choose to decrease or fix the amount of your cover, at any time, through Member Online.

  Find out how to change your insurance or how to make a claim.

• Opt out of your cover
  You can opt out of part or all of your cover in Member Online. Please remember that if you’d like to reinstate or increase your insurance cover in the future, you’ll need to apply and meet eligibility criteria.

Statutory insurance

As a West State Super member, your level of Death and TPD benefit may be adjusted if all of these conditions apply to you:

• You’re a covered risk benefits member, as defined in the State Superannuation Regulations 2001 (WA)
• You’re an eligible statutory West State Super member
• You’re under 60 and have not opted out of your Death or TPD cover

We will pay a top-up if your entitlement under the state superannuation legislation exceeds the amount payable by our Insurer.

Learn more about your West State Super insurance.

1 SuperRatings Smart database as at 31 December 2023. Based on an average balance of $50,000, fees for the My West State Super plan, the My GESB Super plan and the RI Allocated Pension Balanced plan are below the industry median. Fees includes administration, investment, and transaction fees and costs. Fees may change periodically.
2 This includes lost and unclaimed account transfers to the Australian Taxation Office (ATO).
3 If you are a Gold State Super member and currently employed in the WA public sector, you may be eligible to open a West State Super account, provided you have pre-1 July 1983 service.

West State Super fees and other costs

Below is a general guide to the fees and costs for your West State Super account. Other fees, such as fees for personal advice and insurance fees, might be charged, depending on the advice or insurance you choose. Entry fees and exit fees will not be charged.

If you’d like to calculate the effect of fees and costs on your West State Super account, try our Retirement planning calculator.

West State Super fees and costs summary

For more information on the types of fees and costs that may apply to your account, see our West State Super schedule of fees.

We may make changes to the fees we charge

From time to time, we might need to change our fees to make sure the structure and level of fees is appropriate, including any extra costs from any government taxes or statutory charges.

We’ll always let you know about any changes through our website or through your member statement. If the change is an increase in fees or charges, we’ll give you at least 30 days’ notice.

1 If your account balance is less than $6,000 at the end of the financial year, certain fees and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of that cap must be refunded.
2 Investment fees and costs include an amount of 0.00% p.a.% to 0.05% p.a. for performance fees. The calculation basis for this amount is set out under the ‘Additional explanation of fees and costs’ section on page 5 of the West State Super Product Information Booklet. Please note, the transaction costs percentage is also included in the investment fees and costs percentage shown in the table.
3 Please see ‘Additional explanation of fees and costs’ section on page 5 of the West State Super Product Information Booklet, which provides further detail about the items included in transaction costs.

West State Super and tax

West State Super is an untaxed scheme.

Unlike most other Australian super funds, West State Super does not pay tax on any contributions or investment earnings that your super account receives while it accumulates. You will only be taxed when you access the money in your account. Untaxed does not mean ‘no tax’, so it can be useful to think of it as deferred tax.

Tax applies in different ways to different types of contributions

Here is a guide to how tax applies to your West State Super contributions. While the Commonwealth government provides concessional tax rates to help you use your super to save for retirement, there are some limits, known as caps. For more information, please read the West State Super Product Information Booklet.

West State Super and tax

Factor tax into your retirement planning

If you’re planning for your retirement and considering taking your super out as a lump sum or transferring it into an allocated pension, you need to be aware of the tax that applies in those scenarios.

For a breakdown of your tax components i.e. taxed vs untaxed, call your Member Services Centre on 13 43 72 or use our Live chat and ask for a ‘benefit estimate’.

Find out more about how tax applies on benefits.

Service periods before 1 July 1983 may impact your benefit

If you have an eligible service period that started before 1 July 1983, this may impact how much tax is payable when you access your West State Super benefit. Find out more about Pre-1 July 1983 service and tax.

1 SuperRatings Smart database as at 31 December 2023. Based on an average balance of $50,000, fees for the My West State Super plan, the My GESB Super plan and the RI Allocated Pension Balanced plan are below the industry median. Fees includes administration, investment, and transaction fees and costs. Fees may change periodically.
2 This includes lost and unclaimed account transfers to the Australian Taxation Office (ATO).
3 If you are a Gold State Super member and currently employed in the WA public sector, you may be eligible to open a West State Super account, provided you have pre-1 July 1983 service.
4 For the 2023/24 financial year, indexed annually in line with Average Weekly Ordinary Time Earnings, in increments of $5,000 rounded down. The untaxed plan cap applies for each untaxed scheme you are a member of.
5 For the 2023/24 financial year, indexed annually. This cap is equal to four times the general concessional contributions cap (which is currently $27,500).
6 The amount available under the bring-forward rule depends on your total super balance as at 30 June in the previous financial year. Where the bring-forward rule has been triggered, the future years' entitlements are not indexed and the contributions must be made before you turn 75 or within the 28 days following the end of the month in which you turn 75 years old. For more information, please read the Contributing to your super brochure.

Important documents

Your West State Super account is unique, with a range of different features. To make the most of your retirement savings, it’s worth learning as much as you can about your super account including the tax considerations, insurance and investment plans available.