Super SA guide for SA public sector employees

For most Australians, the rules and tax rates applied to their superannuation funds are the same. 

Up until November 2022, SuperSA Triple S was the compulsory and default superannuation fund for employees in the South Australian public sector. SuperSA has some 217,000 members as of 30 June 2024, making it the largest superannuation fund provider by membership in South Australia. 

Read on to discover how to unlock the full potential of your SuperSA fund.

Unique benefits of a Super SA superannuation fund

Salary sacrifice beyond the standard cap on tax-deductible contributions

While most people are limited in the amount they can contribute to their superannuation fund, individuals who hold a SuperSA fund have the unique benefit of being able to contribute more than the standard annual concessional (tax-deductible) contributions of $30,000 for the 2025/2026 financial year.

SuperSA members who continue to work in the South Australian public sector can choose to sacrifice their entire salary, even if it goes beyond the standard $30,000 annual cap. However, there is a lifetime untaxed plan cap of $1.865 million for the 2025/2026 financial year that SuperSA members must be careful not to exceed.

Salary sacrifices to reduce capital gains tax liability

You might wonder why someone would want to salary sacrifice almost all of their income. One reason is planning for the sale of assets such as shares or property which will result in a large capital gains tax liability.  

In this case, we can plan for SuperSA member to start salary sacrificing a large portion of their salary at the beginning of the financial year and instead, rely on alternative avenues to meet their living expenses. This can significantly reduce their capital gains tax liability while also boosting their superannuation, particularly in the lead up to retirement. 

Retire comfortably and with confidence with a Transition-to-Retirement pension income stream

For those who are continuing to work as they but are seeking to maximise their superannuation savings, utilising a Transition to Retirement (TTR) pension income stream can be a powerful strategy in the lead up to retirement. 
We regularly assist our clients with establishing a transition to retirement strategy which:

• Generates a tax-free income using a Transition to Retirement (TTR) pension income stream
• Reduces taxable income through salary sacrificing
• Maximises superannuation savings in the lead up to retirement
• Ensures that you maintain the same standard of living and take-home pay

The benefits of an untaxed scheme

SuperSA has another distinctive advantage, which is its "untaxed scheme." A normal Australian superannuation fund follows a 15% tax on employer superannuation contributions, tax-deductible contributions and investment earnings that the fund generates internally.

As SuperSA members however have the added benefit of an untaxed scheme. This doesn't mean that the members pay no tax, but rather it's a deferred tax system. In other words, when a member chooses to rollover or withdraws their funds from SuperSA, a lump sum tax payment would then apply. By paying the tax only when leaving the fund, more funds can compound, potentially leading to a higher retirement balance over the long term.

SuperSA members have many added benefits which are not available to a lot of other Australian superannuation fund members. Everyone’s personal circumstances, goals and objectives are different and so it is therefore important that you consider the above points in the context of your financial situation, needs, and objectives. Seeking financial advice before implementing a strategy is highly recommended.

FOR MORE INFORMATION

If you would like to learn more about the topics discussed in this article, please contact your local financial adviser.