Financial Planner Luke Smith joined 2CC Talking Canberra in Money Matters, that aired live on Friday 6 February 2026. Luke is joined by Leon Delaney to talk about a super topic that is specific to people who have been employed within the Public Sector. The topic is: What is the Transfer Amount in the PSS and what can I do with it? The Public Sector Superannuation (PSS) Superannuation Scheme is a defined benefit scheme. This means it doesn’t work like a regular accumulation superfund and has special rules about how benefits are calculated and taken. The rules aren’t always easy to follow. The calculations to work out the benefits aren’t as straight forward as you might think.
Thank you for joining us live on 2CC, YouTube, Spotify or your favourite podcast streaming service for ‘The Strategy Stacker – Luke Talks Money’.
Key topics covered include:
- Many people look at their numbers and can’t figure out why they’re not getting the amount that’s on their paperwork.
- What is a Transfer Amount in the PSS?
- How do I work out what my Transfer Amount is?
- Where did my Transfer Amount come from?
- The PSS has special retirement rules. You can start a pension or take a pension and lump sum from the PSS at age 55.
- What financial planning options are available to you if you have a Transfer Amount?
- It’s important to know your concessional contribution limit if you plan to use a second super fund and seek a tax deduction for your super contributions to it.
- You can start a concessional contribution strategy with a second super fund of your choosing.
- If you’re over 60, you can rollover the Transfer Amount to start a Transition to Retirement strategy, outside of the PSS, with that money. This strategy is not available inside the PSS.
- Of course, you’ll need to select a normal super fund (an accumulation fund) outside of the PSS to implement these strategies.
- It’s important to note that the Transfer Amount, and what you do with it has no impact on the calculation of your benefits at retirement with the PSS.
- What are the issues you may consider when selecting another super fund?
- You can fund personal insurance in a super fund outside of the PSS too, using your Transfer Amount as a basis for starting that new fund.
- Luke shares his tips to help you understand the Transfer Amount and consider your options.
Our podcast is also available on Apple Podcasts, Spotify and YouTube – ‘The Strategy Stacker – Luke Talks Money’
Do you need help with retirement planning in the PSS or what to do with your Transfer Amount?
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 own goals and 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. 
