Public Sector Superannuation Accumulation Plan (PSSap) Review

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PSSap Performance: Returns to September 30 2021

Investment Option 1 Year 3 Year 5 Year
PSSap Income Focused 8.31% 5.97% 5.96%
Median 7.40% 4.60% 4.70%
PSSap Income Focused VS Median 0.91% 1.37% 1.26%
PSSap MySuper Balanced (default) 18.75% 7.87% 8.31%
Median 17.70% 8.00% 8.60%
PSSap MySuper Balanced (default) VS Median 1.05% -0.13% -0.29%
- - - -
Median - - -
VS Median - - -
PSSap Aggressive 23.84% 11.08% 10.98%
Median 22.10% 9.30% 10.10%
PSSap Aggressive VS Median 1.74% 1.78% 0.88%

PSSap Fees

Investment Option Flat Fee Percentage Based Fee Fee Based on 50k
PSSap Income Focused 84 0.96% $564
PSSap MySuper Balanced (default) 84 1.15% $659
PSSap - - -
PSSap Aggressive 84 1.51% $844

Asset Allocation

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Insurance is available through PSSap. However, it is not rated by Omnilife. To compare all available options for insurance through your super fund please click below.

PSSap Super Fund Information

ABN: 65 127 917 725

USI: 65127917725001

Address: Locked Bag 9300 Wollongong NSW 2500

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About PSSap

PSSap (Public Sector Superannuation Accumulation Plan) is super fund under the Commonwealth Superannuation Corporation.

PSSap has been the default super fund for most Australian Government employees and for employees of other eligible employers since 1 July 2005.

PSSap Investment Options

PSSap has four investment options – Cash, Income Focused, MySuper Balanced (or Balanced for Ancillary customers) and Aggressive.

PSSap Performance

PSSap’s MySuper Balanced (default) investment option under performed the median over 5 years, measured against Chant West’s median performance. However, it out performed the 1 year period.
PSSap’s Growth investment option out performed the median over 1, 3 and 5 years, measured against Chant West’s median performance.
PSSap’s Conservative investment option out performed the median over 1, 3 and 5 years, measured against Chant Wests median performance.
See PSSap vs Australian Super comparison.

PSSap Fees

PSSap’s MySuper fees are above average compared to other funds listed on Review My Super. There is no industry benchmark for fees to compare against.

PSSap Insurance

PSSap offers default insurance cover known called ‘lifePLUS auto’, that gives you Income Protection, Death and TPD cover. You can also tailor your insurance cover.
The default cover offers the following:
Death and TPD cover. Levels vary based on your age.
Income Protection. A benefit period of two or five years depending on your age group with a 90-day waiting period. Super contributions of 15.4% while you’re on claim.

You are also able to hold other insurers in your super. To compare cover from other insurers with your PSSap cover click here.

PSSap Financial Advice

PSSap members have access to Financial advice through the Commonwealth Superannuation Corporation (CSC).
PSSap members have access to simple advice i.e in relation to your investment options and insurance within PSSap at no additional cost.
They also offer more complex and tailored advice via a fee for service model.
A benefit of seeking advice through a CSC financial planner is they will be very familiar with PSSap and with the defined benefit options within CSC, which a lot of financial planners are not.
A downside is they will not recommend any alternative super funds outside of CSC, even if there are more suitable options.
To speak with an advisor that can consider all available funds and insurers in the market, please fill out the ‘Speak To An Advisor’ form on this page.

Frequently Asked Questions

PSSap’s growth and conservative options have out performed and their balanced option has been close to the median for My Super options. Their fees are a bit higher than average for My Super options. You could say it’s not a bad fund. However, it has not made the top funds lists.

No, the ‘ap’ in ‘PSSap’ stands for ‘accumulation plan’. This means the funds are invested like regular super funds. Your final benefit will be whatever the funds have accumulated to when you withdraw, rather than a benefit defined by a set formula like a defined benefit scheme.

Yes, PSSap is an APRA fund.

No, PSSap is regulated by APRA.

No, PSSap is a public sector fund.

 

PSSap is a not-for-profit fund with a public membership base.

You need to be a government employee to join PSSap.

The USI for PSSap is 65127917725001.

The ABN for PSSap is 65 127 917 725.

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Anonymous
Anonymous
24 days ago
How would you rate :
     

Not particularly progressive with investment options.

Returns have been ok.

I have found much better experience from my second fund in all areas including investment choices, returns and ease of use

Anonymous
Anonymous
24 days ago
How would you rate :
     

Expensive fees, but good returns

Anonymous
Anonymous
12 days ago
How would you rate :
     

Be aware that fees are quite high, while performance is middle of the road. While they claim to undertake responsible/sustainable investments this may be greenwashing as there is a lack of clarity and they use the ‘influencing from within’ argument to justify continued involvement. I am going to move the bulk of my super into a more ethical fund where I can have more confidence that it’s supporting renewable energy rather than propping up fossil fuels.

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3 2 Reviews
How would you rate
0 0 Reviews
Service
0 0 Reviews
Performance
0 0 Reviews
Fees
0 0 Reviews
Insurance
0 0 Reviews
Transparency
guest
How would you rate
Service
Performance
Fees
Insurance
Transparency
3 Reviews
Most Votes
Newest Oldest
Inline Feedbacks
View all review
Anonymous
Anonymous
24 days ago
How would you rate :
     

Not particularly progressive with investment options.

Returns have been ok.

I have found much better experience from my second fund in all areas including investment choices, returns and ease of use

Anonymous
Anonymous
24 days ago
How would you rate :
     

Expensive fees, but good returns

Anonymous
Anonymous
12 days ago
How would you rate :
     

Be aware that fees are quite high, while performance is middle of the road. While they claim to undertake responsible/sustainable investments this may be greenwashing as there is a lack of clarity and they use the ‘influencing from within’ argument to justify continued involvement. I am going to move the bulk of my super into a more ethical fund where I can have more confidence that it’s supporting renewable energy rather than propping up fossil fuels.