State super crediting rates
Investment returns generally don’t impact defined benefit funds. However, if your retirement options include resignation or retrenchment benefits, crediting rates may affect the refund of contributions plus interest.
| State super interim crediting rate*: |
7.48% p.a. |
| Effective date: |
21 October 2019 |
Crediting rates history
| Effective date |
State super interim crediting rate* |
20 September 2019
|
7.33% |
21 August 2019
|
7.72% |
| 19 July 2019 |
7.45% |
| 24 June 2019 |
8.13% |
| 21 May 2019 |
8.50% |
| 23 April 2019 |
8.02% |
| 21 March 2019 |
7.91% |
| 21 February 2019 |
7.13% |
| 21 January 2019 |
6.54% |
| 21 December 2018 |
7.21% |
| 21 November 2018 |
7.77% |
| 19 October 2018 |
9.16% |
Declared annual crediting rates
Year ended
30 June |
Gross Investment Return |
Net Investment Return |
Declared
Crediting Rate |
| 2019 |
7.00% |
6.02% |
8.75%
|
| 2018 |
10.92% |
9.47% |
7.63% |
2017
|
12.45% |
10.82%
|
7.75% |
| 2016 |
3.33% |
2.78% |
8.68% |
| 2015 |
11.90% |
9.82% |
13.10% |
| 2014 |
15.81% |
13.74% |
10.32% |
| 2013 |
18.10% |
15.84% |
9.50% |
| 2012 |
2.74% |
1.91% |
7.95% |
| 2011 |
12.72% |
11.21% |
2.04% |
Crediting policy for state super defined benefit assets
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% p.a.
For example, if the result of the compound average calculation is -1.0% p.a. then the declared crediting rate for that year would be 0.0% p.a. Any shortfall is not considered in future years' calculation of rates.
Administration Costs and Investment Management Fees
No fees apply for New Scheme Members unless they receive a benefit that comprises a refund of contributions and earnings. Administration costs and investment management fees are deducted prior to calculating the annual rate of earnings. The following table shows the investment and administration cost fees deducted from crediting rates prior to the crediting of earnings to member accounts.
State Superannuation Fund: Indirect management costs deducted from fund crediting rates.
| Effective Date |
Indirect Investment Fees % |
Indirect Administration Fees % |
| 01/07/2016 |
0.00 |
0.18 |
| 01/07/2015 |
0.00 |
0.18 |
| 01/07/2014 |
0.00 |
0.18 |
| 01/07/2013 |
0.00 |
0.18 |
| 01/07/2012 |
0.00 |
0.18 |
| 01/07/2011 |
0.00 |
0.18 |
| 01/07/2010 |
0.00 |
0.18 |