Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired live on Friday 21 March 2025. The topic for this week is: Public Sector Superannuation Scheme – PSS and your retirement options – Do I have to take a full pension from the PSS when I retire? In this episode our own Financial Planner Luke Smith takes a deep dive into retirement planning when you’re a member of the Public Sector Super Scheme. As the PSS is a defined benefit scheme, there are different rules to how it works when compared with other superannuation vehicles (e.g. personal super, industry super and SMSF).
Thank you for joining us live on 2CC, YouTube or your favourite podcast streaming service with ‘The Strategy Stacker – Luke Talks Money’.
Key topics covered include:
- The PSS is the Public Services Superannuation Scheme – a government defined benefit super scheme
- Many members of this fund miss out on opportunities because they don’t understand how it works
- You’re able to ask the PSS for an estimate
- Misconception: I have to take a full pension from the PSS – this is not correct!
- Misconception: I have to take half of my benefit as a pension from the PSS – this is not correct either!
- Luke talks about the actual rules around retirement and the PSS
- You can ask for specific figures related to how much you wish to take as a pension
- It’s a big decision, once you make a decision, you can’t change it
- In the PSS you can access your benefits from aged 55 if you cease employment
- Can I change my mind and go back to work after I have retired with the PSS?
- As a member of the PSS you can still make a contribution to super, to another super fund
- Why contributing to the PSS is very worthwhile
- Luke shares his top issues to consider when you’re a member of the PSS.
Our podcast is also available on Apple Podcasts, Spotify and YouTube – ‘The Strategy Stacker – Luke Talks Money’
Do you need help retiring and the Public Sector Superannuation Scheme (PSS)?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement (including transition to retirement). Simply make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.
Luke will return to 2CC to talk about other ‘Money Matters’ next week, we hope you can join us. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.
We look forward to your company again. Luke’s book Smart Money Strategy is out now.
