SERB Scheme

April 24 2017

Thinking about retirement?

Contact us to discuss your options today.

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No one knows your SERB Scheme better than ESSSuper.

The SERB Scheme (State Employees Retirement Benefit Scheme) members are eligible state employees who joined the scheme between 1980 and 30 June 1988.

 


 

How your SERB Scheme works

Throughout your working life, both you and funding from your employer will contribute to your SERB Scheme.

Your end benefit is calculated using a formula which takes into account a number of elements, including:

  • age
  • trigger event (eg. resignation, retrenchment or retirement)
  • your salary, and
  • period of service

 

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Benefit options

As a SERB Scheme member you have a number of options, resulting in:

  • Part lump sum, part life pension
  • Lump sum payment

 

You can transfer1 your lump sum benefit into our award-winning Accumulation Plan or take out an Income Stream. Our Accumulation Plan will give you the flexibility to continue to receive contributions if you are still working, increase your insurance cover2 and nominate beneficiaries.

Find out more about our award winning Accumulation Plan

Thinking about retirement?

Your entitlements and options are dependent on your circumstances, and the complexities can be confusing. Remember, no one knows your SERB Scheme better than ESSSuper.

Let us help you to understand your options in detail, and even advise you on which option is best in your personal situation.

Contact us to talk about your retirement options


 

 


Before making any decisions about ESSSuper products or services, you should read the applicable PDS or Handbook. You can access all of our publications here.

1. You should check any relevant exit fees you may incur, or any insurance arrangements that may be forfeited, or any other effects this transfer may have on your benefits, before rolling your money into our fund.

2. Insurance cover is subject to eligibility criteria and other terms and conditions in the Policy. Please read the Product Disclosure Statement relevant to your particular fund, available from ESSSuper, for more information.

3. ESSSuper Member Education Advisers and Financial Planners are authorised representatives of Adviser Network Pty Ltd (Adviser Network). Adviser Network holds a current Australian Financial Services Licence No. 232729 and is responsible for the financial services provided to you. ESSSuper has an arrangement with Adviser Network Pty Ltd to provide financial advice to ESSSuper members. ESSSuper pays Adviser Network a fee for this service. Neither the Board, nor the Victorian Government, guarantee or endorse any recommendations made by Adviser Network, or are responsible for the advice and actions of Adviser Network.