Appendix G. Australian ‘Uniformed Bodies’ scheme comparison
|
Name |
DB/DC Name of Plan |
Taxed |
Funded |
Member contributions |
Employer contributions for DC plans |
Defined benefit scale for DB plans |
Additional employer sponsored insurance |
Choices |
|
Australian Federal Police |
DC - PSSap |
Yes |
Yes |
Optional |
15.4% |
N/A |
Nil |
Investment and insurance |
|
NSW Police |
DC – Police Blue Ribbon Superannuation (re-badged FSS) |
Yes |
Yes |
Optional |
9% |
N/A |
Nil – other benefit paid outside superannuation |
Investment and insurance |
|
Vic Police |
DB – ESSS defined benefit |
Yes
|
Yes
|
Optional (rates of contribution 0%, 3%, 5%, 6% and 7%) |
N/A |
8.5% to 25% depending on level of member contribution |
Based on DB |
Member contributions rate only |
|
Qld Police |
DB – QSuper defined benefit account
or DC – QSuper accumulation account |
Yes
Yes
|
Yes
Yes |
Compulsory (rates of contribution 3%, 4%, 5% and 6%) Compulsory (rates of contribution 3%, 4%, 5%, and 6%) |
N/A
Between 12% and 18% depending on level of member contribution |
14% to 24.5% depending on level of member contribution N/A |
Based on DB
Nil |
Choice of DB or DC and member contribution rate only
As above, and investment and insurance
|