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*: |
5.48% per year |
Effective date: |
20 May 2022 |
Crediting rates history
Effective date |
State super interim crediting rate* |
21 April 2022 |
5.88% |
21 March 2022 |
6.02% |
21 February 2022 |
6.69% |
21 January 2022 |
7.52% |
21 December 2021 |
7.26% |
22 November 2021 |
7.03% |
21 October 2021 |
7.28% |
22 September 2021 |
7.85% |
20 August 2021 |
7.52% |
21 July 2021 |
7.30% |
22 June 2021 |
6.50% |
21 May 2021 |
6.31% |
23 April 2021 |
5.80% |
19 March 2021 |
5.24% |
19 February 2021 |
5.17% |
21 January 2021 |
5.30% |
21 December 2020 |
5.21% |
20 November 2020 |
3.99% |
21 October 2020 |
4.01% |
21 September 2020 |
4.34% |
21 August 2020 |
4.03% |
20 July 2020 |
3.88% |
19 June 2020 |
4.77% |
21 May 2020 |
4.37% |
21 April 2020 |
3.71% |
20 March 2020 |
6.90% |
21 February 2020 |
8.15% |
21 January 2020 |
7.46% |
20 December 2019 |
7.89% |
22 November 2019
|
7.37% |
21 October 2019
|
7.48% |
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% |
Declared annual crediting rates
Financial year |
Gross earning rate |
Net earning rate |
Final (declared) crediting rate |
2020-2021 |
19.26% |
16.83% |
7.00% |
2019-2020 |
-1.06% |
-1.09% |
4.71% |
2018-2019 |
7.00% |
6.02% |
8.75% |
2017-2018 |
10.92% |
9.47% |
7.63% |
2016-2017 |
12.45% |
10.82% |
7.75% |
2015-2016 |
3.33% |
2.78% |
8.68% |
2014-2015 |
11.90% |
9.82% |
13.10% |
2013-2014 |
15.81% |
13.74% |
10.32% |
2012-2013 |
18.10% |
15.84% |
9.50% |
2011-2012 |
2.74% |
1.91% |
7.95% |
2010-2011 |
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.
Effective date |
Indirect administration fees % |
1 July 2021 |
0.18 |
1 July 2020 |
0.18 |
1 July 2019 |
0.18 |
1 July 2018 |
0.18 |
1 July 2017 |
0.18 |
1 July 2016 |
0.18 |
1 July 2015 |
0.18 |
1 July 2014 |
0.18 |
1 July 2013 |
0.18 |
1 July 2012 |
0.18 |
1 July 2011 |
0.18 |
1 July 2010 |
0.18 |