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We’ve helped grow your super this far; a Beneficiary Account lets you stay with us as we continue to work hard for your retirement. A Beneficiary Account can accept rollovers, however it cannot accept regular contributions.
The Beneficiary Account is a rollover fund for members of the ESSS Defined Benefit Fund or Accumulation Plan. The key difference between having a Beneficiary Account and an Accumulation Plan is that a Beneficiary Account cannot accept regular personal or employer contributions (only rollovers from external super funds) and does not provide insurance cover.
The Beneficiary Account enables ESSS DB Fund members to transfer an 'untaxed' benefit from the ESSS DB Fund, allowing them to defer the contributions tax payable on the 'untaxed' component of their benefit.
Eligible spouses of Beneficiary Account members may also set up a Spouse Account in the fund.
The balance in your Beneficiary Account is made up of superannuation benefits transferred into the fund plus accumulated investment earnings, less fees and tax.
If you are a member of the Beneficiary Account you can have a say in how your super is invested by making an investment choice. You can also roll over super from other funds into your account.
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