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*: |
6.61% p.a. |
| Effective date: |
22 September 2017 |
2016/17 Financial Year history
| Effective date |
State super interim crediting rate* |
| 24 August 2017 |
6.61% |
| 21 July 2017 |
6.78% |
| 22 June 2017 |
7.96% |
| 19 May 2017 |
8.04% |
| 26 April 2017 |
7.75% |
| 22 March 2017 |
7.38% |
| 21 February 2017 |
7.15% |
| 23 January 2017 |
7.36% |
| 21 December 2016 |
6.74% |
| 22 November 2016 |
6.45% |
| 21 October 2016 |
6.90% |
| 21 September 2016 |
7.06% |
| 22 August 2016 |
7.20% |
| 21 July 2016 |
6.46% |
Declared annual crediting rates
Year ended
30 June |
Gross Investment Return |
Net Investment Return |
Declared
Crediting Rate |
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 |