The Executive Scheme, formerly part of PSESS (Public Sector Executives Superannuation Scheme), was one of the five superannuation schemes incorporated into the Local Government Superannuation Scheme from 1 July 1997. This Scheme was originally established as an accumulation style scheme, to provide executives with more flexible superannuation arrangements through which they can maximise the opportunities provided under the 'salary packaging' concept.
The Scheme has been designed to offer members greater flexibility in determining the level of superannuation contributions they wish to make and the opportunity to choose an investment strategy suited to their needs or preferences.
Eligible staff may, where appropriate, transfer their accumulated entitlements from their older scheme - eg the Retirement Scheme (formerly SASS), or the Defined Benefit Scheme (formerly SSS) - to the Executive Scheme.
This information outlines the main features of the Executive Scheme. It is not intended to be a substitute for the rules governing the Scheme, which are detailed in the Trust Deed.
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Information in a PDS
A PDS sets out:
- features of the product
- fees that apply
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- commissions that may affect your returns
- information about complaints handling and cooling off rights
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Executive Scheme PDS
The PDS for the Executive Scheme can be found by clicking the link below.