Defined Benefit Pension Schemes

The State Pension Scheme is a defined benefit, non-contributory pension scheme established by the Superannuation and Family Benefits Act 1938.  

Whilst the Superannuation and Family Benefits Act 1938 has been repealed, the sections relating to the administration of the State Pension Scheme are continued as regulations under the State Superannuation Act 2000.

The scheme, which closed to new members in August 1986, provides lifetime pension benefits to public sector employees who met contribution, eligibility and service requirements throughout their employment. It also provides death benefits to surviving spouses and eligible children.

Further information can be obtained by contacting GESB on 13 43 72.
 

The Parliamentary Pension Scheme is a defined benefit, contributory pension scheme provided under the Parliamentary Superannuation Act 1970.

Member contributions to the scheme are payable from the date the Member takes office and are either deducted from their post-tax salary, or paid before tax through salary sacrifice. The compulsory member contribution level of 12.5% of total parliamentary salary received reduces to 6.5% after 20 years’ of membership, and consists of: 

     Total salary = Basic salary + Higher Office Allowance, if applicable. 

This scheme was closed to new members on 10 October 2000. Since its closure, superannuation for Members of Parliament has been provided under ‘choice of fund’ arrangements, in which their employer’s contribution rate is determined by the Salaries and Allowances Tribunal. 

The scheme is outlined in the Parliamentary Pension Scheme Explanatory Booklet. 

The Parliamentary Superannuation Board is responsible for administering the Parliamentary Pension Scheme, assisted by GESB. The Board also advocates on behalf of the Parliamentarians participating in the superannuation arrangements introduced on 10 October 2000.

The six-member Board is reconstituted at the commencement of each new Parliament, and consists of:

• the Treasurer as Chairperson (who may nominate a Member of either House of Parliament to act as Chairperson)
• two Members from the Legislative Council, and two Members from the Legislative Assembly
• one former Member in receipt of a Parliamentary Pension, as parliamentary pensioner representative. 

The Judges’ Pension Scheme is a defined benefit, non-contributory pension scheme established by the Judges’ Salaries and Pensions Act 1950.

The scheme currently provides for pension benefits to persons who have served as a Judge of a Western Australian court or a Master of the Supreme Court.  It also provides death benefits to surviving spouses and eligible children.

For more information see the Judges’ Pension Scheme Member’s Guide.