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Updating...
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State super - Crediting rates
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It’s no surprise the last few years have been a rollercoaster of returns for superannuation investments. The good news is that investment returns generally don’t impact defined benefit funds.
State super defined benefit members
If your retirement options include resignation or retrenchment benefits, crediting rates affect the refund of contributions plus interest.
State super interim crediting rates
| Effective date |
Interim crediting rate |
| 23 April 2013 |
9.25% |
| 25 March 2013 |
9.43% |
| 22 February 2013 |
8.87% |
| 23 January 2013 |
8.00% |
| 24 December 2012 |
7.54% |
| 23 November 2012 |
7.52% |
| 22 October 2012 |
7.42% |
| 24 September 2012 |
7.08% |
| 22 August 2012 |
6.77% |
| 23 July 2012 |
6.59% |
| 25 June 2012 |
7.85% |
| 22 May 2012 |
8.79% |
* An interim crediting rate is applied in the year a member leaves the fund for the period up to the date of exit. The interim crediting rate is calculated in the same way as the declared crediting rate except that an estimated rate is used for the current financial year. The estimated rate will be the actual investment earnings (net of expenses and tax) for the year to date, plus an assumed rate (net of expenses and tax) for the remainder of the financial year. The interim crediting rate will also be no less than zero.
The earnings are calculated and applied annually at 30 June using the declared crediting rate calculated as the compound average of the current and previous two years’ annual investment earnings (net of expenses and tax).
It’s important to note that the declared crediting rate will never be less
than 0.0%.
For example, if the result of the compound average calculation is -1.0% then the declared crediting rate for that year would be 0.0%. Any such shortfall is not considered in future years’ calculation of rates.
State super declared crediting rates
Year ended
30 June |
Investment Return |
Declared
Crediting Rate |
| Gross |
Net* |
| 2012 |
2.40% |
1.91% |
7.95% |
| 2011 |
12.05% |
11.21% |
2.04% |
| 2010 |
12.5% |
11.0% |
0.0% |
| 2009 |
-15.7% |
-13.9% |
0.0% |
| 2008 |
-8.7% |
-7.8% |
7.9% |
| 2007 |
17.3% |
16.9% |
16.4% |
Crediting rates are used when the benefit payable consists of a refund of contributions plus interest (generally resignation or retrenchment benefits).
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