Defined Benefit Scheme

The Defined Benefit Scheme is a defined benefit type scheme for certain employees within the energy industry in NSW. Subject to limited exceptions specified in the Superannuation Administration Act 1996 (NSW), the Defined Benefit Scheme is closed to new employees.

Your employer contributes to the Defined Benefit Scheme on your behalf. Your benefit on retirement is directly related to your unit entitlement, as dictated by your Superable Salary on retirement. The Defined Benefit Scheme provides benefits in the event of your leaving employment with a Scheduled Employer or on your death or invalidity. If you are no longer employed by a Scheduled Employer, in certain circumstances you may retain your benefits in the Defined Benefit Scheme as a deferred member.

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