PSSap (Public Sector Superannuation Accumulation Plan) is the main accumulation super fund under the Commonwealth Superannuation Corporation.
It has been the default super fund for most Australian Government employees and for employees of other eligible employers since 1 July 2005. As of September 30th 2024 it had approximately 382,240 members and $55.05 billion in assets under management.
Please Note: Any advice on this page is general in nature and does not take into account your objectives, financial situation or needs. Consider whether this is right for you. See full disclaimer.
Past performance is not a reliable indicator of future performance.
PSSap’s – Aggressive and income focused investment options outperformed the median over 1 year, 3 years and 5 years. The MySuper Balanced option performed in-line with the median over 1 year, but under performed over 3 and 5 years vs the median option of their respective risk categories.
Select an investment option from the menu below to see performance Vs the relevant median.
Check out our more in depth analysis of PSSap Performance.
See PSSap vs Australian Super to see how PSSap compares with Australia’s biggest super fund and for a comparison against all funds see compare super funds.
PSSap’s fees for their MySuper Balanced investment option are above the median compared to other funds’ MySuper/Balanced options listed on Review My Super.
Select an investment option from the menu below to see flat fees, percentage based fees and total fees on a balance of $50,000.
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| CSC PSSap - Aggressive | 11.47% | 11.15% | 10.39% |
| Median | 10.5% | 9.6% | 8.4% |
| CSC PSSap - Aggressive VS Median | 0.97% | 1.55% | 1.99% |
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| CSC PSSap - Aggressive | 48 | 0.81% | $453 |
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 31% | |
| 2 | International Shares | 41.5% | |
| 3 | Fixed Interest | 4% | |
| 4 | Alternative | 10.5% | |
| 5 | Property | 4.5% | |
| 6 | Cash | 8.5% |
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| CSC PSSap - Income Focused | 7.25% | 6.09% | 4.96% |
| Median | 7.3% | 5.9% | 4.6% |
| CSC PSSap - Income Focused VS Median | -0.05% | 0.19% | 0.36% |
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| CSC PSSap - Income Focused | 48 | 0.71% | $403 |
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 10.5% | |
| 2 | International Shares | 13.5% | |
| 3 | Fixed Interest | 32% | |
| 4 | Alternative | 16.5% | |
| 5 | Property | 4.5% | |
| 6 | Cash | 23% |
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| CSC PSSap - Balanced (Ancillary) | 10.57% | 9.5% | 8.43% |
| Median | 10.5% | 9.6% | 8.4% |
| CSC PSSap - Balanced (Ancillary) VS Median | 0.07% | -0.1% | 0.03% |
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| CSC PSSap - Balanced (Ancillary) | 48 | 0.93% | $513 |
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 25% | |
| 2 | International Shares | 33% | |
| 3 | Fixed Interest | 12.5% | |
| 4 | Alternative | 13% | |
| 5 | Property | 3.5% | |
| 6 | Cash | 13% |
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| CSC PSSap - Cash | 3.92% | 3.42% | 2.06% |
| Median | - | - | - |
| CSC PSSap - Cash VS Median | 3.92% | 3.42% | 2.06% |
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| CSC PSSap - Cash | 48 | 0.17% | $133 |
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Cash | 100% |
| Investment Option | 1 Year | 3 Year | 5 Year |
|---|---|---|---|
| CSC PSSap - MySuper Balanced | 10.63% | 9.57% | 8.46% |
| Median | 10.5% | 9.6% | 8.4% |
| CSC PSSap - MySuper Balanced VS Median | 0.13% | -0.03% | 0.06% |
| Investment Option | Flat Fee | Percentage Based Fee | Fee Based on 50k |
|---|---|---|---|
| CSC PSSap - MySuper Balanced | 48 | 0.93% | $513 |
| Rank | Asset | % | |
|---|---|---|---|
| 1 | Australian Shares | 25% | |
| 2 | International Shares | 33% | |
| 3 | Fixed Interest | 12.5% | |
| 4 | Alternative | 13% | |
| 5 | Property | 3.5% | |
| 6 | Cash | 13% |
This fund 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.
Insurance is underwritten by Commonwealth Superannuation Corporation.
See the PSSap ABN and USI page for all the information required to contribute to this fund.
Read their PDS and TMD for further details.
PSSap’s – MySuper Balanced option has out performed the median over 1 and 3 years and under performed over 5 years.
Fees for this option are above the median out of Balanced/MySuper options.
Based on this somewhat mixed performance, it’s hard to say whether PSSap is a good super fund.
There are many factors which determine whether a super fund is good or bad and it can differ depending on personal requirements. It’s best to seek advice from a qualified adviser in order to work out which is the best super fund for you.
Yes, it is an APRA fund.
No, it’s a public sector super fund.
PSSap Reviews: 2.8 out of 5 stars from 45 customer reviews on Australia’s best superannuation review site Review My Super.
See more Super Fund Reviews to compare ratings and reviews across funds.
Service is reasonable, but given they’re underwritten by the federal government that should be a given. Performance is less than impressive when considering their fee structure and insurance premiums. Some credit has to be given to their insurance policy content though compared to the private market, however this is too little too late. Would be nice to see some real transparency in investment decision making and details of why they continue with some investments, and how they have been unable to take advantage of progressive investment options that have delivered other funds good returns. Could be the typical government of being adverse to risk unless multiple committees have approved a decision. Nobody wants overly high levels of risk, but we do expect a fund of his supposed calibre to be able to identify and exploit investment opportunities and not maintain lazy investment strategies with the idea that members are simply comfortable and secure with average expectations. Do I need to remind you that more and more members are considering (and electing) to go down the SMSF pathway.
High fees and poor performance. Well done PSSAP! I’m leaving.
High Fees, very little advice or communication, and very little consistent performance
It would be nice to see performance in the top 10 funds for once.
Struggling to find information about what companies my money is invested in. Not enjoying the lack of transparency.
Terrible fund, high fees, communication (or lack thereof) is appalling. Would rather not be with them at all, but forced to in order to get the higher employer contribution. When you phone them, they will duck and weave and avoid providing clear information.
High fees and not a very good performing fund, very little or no communication at all
Fees are too high and the return on investment performance does not match the fee rates
Fees are too high
There are way too many transactions and it is impossible to check whether they are even correct or not. Lack of communication on what everything is or whether a better strategy could be used.
High fees for no reason. Limited choice and options. They just take advantage of the fact it’s the compulsory government employee super fund for too long, but now people have a choice. Need to step up their game
unhappy with the fact that they do not allow your employer to increase your super payments as soon as you have an increase but only annually on your birthday so with my employer my pay rise in annually in May and my birthday is March so I get ripped off for 10months on my super payments
If only i could give 0 rating. worst performing, I never get back the amount what my employer contributes
It underperforms compared to nearly all other funds.
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
Expensive fees, but good returns
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.
So so
simple
good returns
good cannot complain
Not happy with the Fees or performance Am looking to change
The system is slow. Information is difficult to find. High admin fee.
good
charge too much fees
This fund has preformed but not in the top 50.
Very straightforward to manage and monitor! All pertinent facts regarding my Super account available instantly online. Can revise asset mix (once again in a very straightforward manner) I believe twice a year.
Ok, I think the fees are expensive and you don’t get many options on how to determine the investment strategy. I also think the fund is too focused on renewables.
A reasonably good super fund. Aims to capture most of
the market gains in an upmarket and minimise losses in
tough times. It does that more often than not. Insurance offerings not so good value. Good customer service.
Mediocre, slightly below median returns for slightly below median fees. Fees are getting worse as the best super like Hostplus and Australian Super remain competitive.
Good
Disappointed with this fund agency
terrible fees eating up my small investment and returns in the negative
Fees don’t match roi, they try and sugar coat high fees and poor performance by saying 1 yr they had 40% less of a fall than others. Ok, so lets ignore the other years were you performed worse. I had an account for a short period of time and I had a negative balance. This was after the fees ate up all my contributions. The scary thing this is with the government’s 15.4% contribution against the 10% contribution the average Aussie gets that is really scary.
Very high fees, lots of hidden charges, they’re constantly slugging you with tiny amounts that add up and suck your account. If you change jobs and you’re not in the public sector anymore, its very important that you leave PSSap. They will charge you premium fees for the privilege of being with them. Don’t get stung by this!
Service is okay. If you email them someone will (eventually respond) and if you call them they usually answer. It does seem it’s one person alone in a room with a phone and a computer. Overall, very average in every way. You won’t see a lot of growth, because PSS underperforms like a violinist with stage fright. No reason to chose this fund at all really.
Consistently underperforms S&P500 , MSCI and ASX200 indices. Attempts to take large bets away from indexes and gets it wrong every time, but still charges fees for the privilege. Insurance premiums are criminally high – three times or more other funds for the same cover.
Declined my transfer to my other fund on myGov. Made up lies that names don’t match. Wouldn’t even be clear what was not matching with the other account. Called the 4th operator that admitted the names did match on my other fund and she wasn’t sure why they declined it. Have to now submit paper form.
They think they own your money, it’s not theirs.
Typical govt employees. they reply to an email without a name/NO ACCOUNTABILITY/ number 1 priority for govt employees.
They reply to complaints as if they have it sorted, when they don’t.
They doubledown on their incompetence, challenging you to accuse them again until you are to fatigued.
As Jean Cocteau said ” Never argue with stupid people on their own level, because, being an intelligent person, you will try to deal with them on their level–and on their level they’ll beat you everytime.
After being caught lying for 8 years about how much tax I would have to pay if I withdrew my money, when they got found out the have then refused to release the insurance payout I received at the correct TPD tax rate despite me being totally eligible to receive it.
PSSAP always ask for new medical reports for my permanent injury despite me already being paid out and nothing in their product disclosure statement says new medical reports for permanent conditions are going to be asked for.
This means despite getting a huge payout I have lived in utter poverty for the last 8 years as I am no longer able to work and they will not let me access my insurance payout I was paid to take care of me. DO NOT EVER USE THIS POS COMPANY!
Good fund well managed
No ethical investment option, high fees, it sucks
very good
Have nothing but very positive experience of both the fund performance and the service and support offered.
Awesome fun but only eligible if you work for the Fed Government
This is a below average fund. Many public service workers can get 15.4% super but ONLY if they are with PSSAP. If they choose any other super fund they lose around one third of their super contributions!! Under these circumstances there is no option but to stick with this below average fund.
It seems choice of superannuation legislation has’nt quite made it to everyone yet. Anyway if you are no longer working in the public service rollover your superannuation provider ASAP.