Join our investing community

Australian Public Service - PSS Super scheme

Discussion in 'Superannuation, SMSF & Personal Insurance' started by BSB, 15th Nov, 2005.

  1. BSB

    BSB Well-Known Member

    31st Aug, 2005

    Just wondering if we have any Commonwealth public servants out there who are conversant with the insurance coverage of the Public Sector Super Scheme (i.e PSS). I have been previously independently employed and had to cover myself for Income Protection, TPD and trauma/crisis insurance but as I'm soon to join the APS I'm thinking I can safely do away with some, if not all, of these as they may be covered by my super. Any thoughts?

  2. Mark Laszczuk

    Mark Laszczuk Well-Known Member

    16th Aug, 2005
    Yeah, find out from the super scheme if:

    a. they do actually cover you for these

    b. they cover you adequately

    I've yet to come across any super scheme at all that adequately covers people who invest and have large amounts of debt.

  3. Muz

    Muz Member

    15th Aug, 2005

    Hi BSB,

    I'm in PSS but in the old defined benefit scheme. Link and information follows on insurance available in the accumulation scheme for new employees from 01072005.

    PSS accumulation plan insurance information

    Insurance for you and your family

    Use this area to learn more about your insurance with us and what you may have to consider.

    A quick overview of the insurance we provide
    When should you check your insurance
    Change your insurance
    Claim your insurance
    A quick overview of the insurance we provide

    Insurance can help you protect your current lifestyle and provide for your family in the event of your sickness, injury, or death.

    Our insurance is provided by AIG Life.

    Basic Death and Total & Permanent Disability (TPD) cover is automatically provided when you join if you:

    are under 65 years of age; and
    join the PSSap within 60 days of starting your new job if you're permanent or non-ongoing; or
    join the PSSap within 30 days of starting your new job if you are casual.
    Basic Death & TPD cover is compulsory if you are eligible, but you can change the level of cover.

    Income protection is automatically provided to you when you join if you are a permanent or non-ongoing (contract) employee, who works 15 hours or more per week. You can change the level of protection, vary the waiting period or opt out altogether.

    Premiums are deducted from your PSSap account at the end of each calendar month.

    An insurance benefit payment will only be payable if a claim is accepted by AIG Life.

    Find out more about insurance for you and your family in our Product Disclosure Statement.

    When should you check your insurance

    We recommend you check your insurance arrangements at least once a year. A good time to do this is when you receive your annual member statement.

    However, circumstances in your life may change at any time, and your insurance may be affected or you may need to review your arrangements to ensure they are still appropriate for you. Here are some examples of circumstance changes which may affect your insurance:

    A change from permanent to casual, or casual to permanent work
    Overseas posting
    Salary increase or decrease
    Turning 65 years of age
    If you go on Leave Without Pay
    Birth of a child
    Death of a spouse
    If any of these relate to you, or you are simply not sure if a change will affect your insurance, just ask us by email or call us on 1300 725 171.

    Change your insurance

    You can apply to change your insurance at any time, but there are terms and conditions.

    Before making any decisions, please read about insurance for you and your family in our Product Disclosure Statement .

    If you want to change your insurance just send us a completed INSURANCE VARIATION form.

    You will receive written confirmation when your new insurance arrangements have been processed.

    Claim your insurance

    We aim to process your claim through the insurer, AIG Life, as quickly as possible.

    You can facilitate the process by notifying us as soon as you become aware of any circumstances which may result in you making a claim.

    In processing the claim, additional information may be requested by either the insurer and/or us. This may include evidence of medical, financial and other matters.

    You can find out more about insurance for you and your family in our Product Disclosure Statement .

    If you want to make a claim, use the claim form which applies to you.

    Please do not hesitate to contact us by email or phone if you require any assistance or clarification in regards to the claims process.

    Contact details.....

    For information about your super

    EMAIL [email protected]

    PHONE 1300 725 171

    FAX 1300 662 406

    POST PO Box 22 , BELCONNEN ACT 2616

    Hope this helps..... :)
    Last edited by a moderator: 16th Nov, 2005
  4. beenthere

    beenthere New Member

    3rd Nov, 2011
    melbourne vic
    pss super reply

    Hi BSB

    Just a quick note that yu dont become a permanent govt employee for a while - sometimes a year so dont give up your own cover until you get notice you are permanent.

    Then you will be eligible for all with conditions.. so check it out at site listed in other posts.

    Just wanted to give you heads up about the "permanent" part.

    good luck.. I have just left govt on Disability and it was long process but works well and safe income. big relief to my mind so I can concentrate on getting well.