Gold State SuperGold State Super is a defined benefit super scheme. This means that your final benefit is determined by applying a predetermined – or defined – formula.
Your Gold State Super benefit grows with your contributions, salary and length of service, and offers you the security of being guaranteed by the Western Australia State Government.
Features of the Gold State scheme
Gold State Super is an ‘untaxed’ scheme.
You only pay tax at the time you access your benefit. That can be at retirement, or when you transfer your super to a taxed scheme or retirement income stream.
Some other Gold State features:
- You can be certain of how much you’ll have in retirement
- It isn’t impacted by the performance of investment markets
- Your benefit will increase with salary rises and length of service
- The more you contribute, up to a maximum average of 5%, the more your employer will contribute. The highest possible contribution by your employer is 15% p.a.
Why it’s important to get advice on your scheme
A StatePlus financial planner can offer expert advice on your Gold State scheme.
As Gold State is an untaxed fund it can lead to some great opportunities - particularly if you haven’t retired yet. We can talk to you about:
- taxation of your super benefits
- using excess income for wealth creation
- preservation and deferral of your benefits, vs potentially accessing them
- Centrelink assessments
Advice tailored to suit you
When it comes to providing advice about your scheme, you can be confident in StatePlus.
Our financial planners are experts in public sector schemes. We understand the rules and have 25 years of experience in navigating them, to get the best outcomes for you.
At StatePlus, our service is tailored to suit you. We can provide advice on your terms, as you need it. We’ll work with you to provide the best wealth creation strategies possible.
For more information about Gold State Super and to talk with a financial planner, call your friendly team member today or book on 1800 620 305.
Visit one of our seminars to find out more about preparing for retirement.