Submission to the Review of Indexation Arrangements in Australian ...

Table 3: Distribution of annual pension amounts as at 30 June 2007
Indexed Pension
Amount
1922
Scheme
Number Percentage
CSS PSS Total Total
Less than $10,000 648 14,015 5,161 19,824 15.3%
$10,000-$20,000 2,420 33,263 4,648 40,331 31.0%
$20,000-$30,000 2,298 30,744 2,600 35,642 27.4%
$30,000-$40,000 1,125 17,500 1,190 19,815 15.3%
$40,000-$50,000 477 7,955 557 8,989 6.9%
$50,000-$60,000 192 2,966 330 3,488 2.7%
$60,000-$70,000 38 977 124 1,139 0.9%
$70,000-$80,000 19 339 42 400 0.3%
Greater than $80,000 9 264 26 299 0.3%
Source: ComSuper
Total 7,226 108,023 14,678 129,927
100% 12
It is important to note that the amount of these pensions in payment will not always
represent the total value of benefits provided from the CSS and the PSS nor be the
only source of retirement income for members. This is because:
• superannuation benefits from the CSS and the PSS are often taken as a
combination of lump sum and pension;
• members may not have had a full career in the Australian Government public
service. Accordingly, they may have additional superannuation provided by other
employers;
• members may be entitled to receive a part-rate Age Pension; and
• members may have saved for their retirement outside superannuation.
These factors are considered further in this chapter and in Chapter 5.
Total superannuation benefits
The pensions paid to members will typically be one part of the total benefit received
from the CSS or the PSS. This is because many members of the CSS and the PSS
take a proportion of their total benefits in the form of a lump sum, which then lowers
the pension paid.
Data is not available on the total number of current pensioners who took some of their
superannuation entitlement as a lump sum. However, information on this is available
for new superannuants. Table 4 demonstrates that most members who commenced
12 Does not add to 100% due to rounding.
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