Understanding Your PSSap Account: What You Can and Can’t Control
If you’re a Canberra public servant, chances are your superannuation is with PSSap — the Public Sector Superannuation accumulation plan. It’s the default fund for most Australian Public Service (APS) employees who joined after 2005.
While PSSap offers solid investment options and insurance, many members aren’t sure exactly what they can and can’t control — and that confusion can cost you thousands over time.
Here’s what you need to know.
1. What you can control
Investment choice – PSSap lets you choose from several options, from Cash and Income Focused to Balanced and Aggressive. You can even mix them to suit your risk tolerance.
Contributions – You can make extra contributions through salary sacrifice (before tax) or personal after-tax contributions. These boost your balance and reduce taxable income.
Insurance – You can adjust your cover — but it’s important to make sure it’s the right level for your family’s needs.
Beneficiaries – You can nominate who receives your super if you pass away. Many people forget to review this after major life changes.
2. What you can’t control
Employer contributions – The government sets the contribution rate (currently 15.4% for APS employees), so you can’t increase it.
Administration fees – PSSap’s fee structure is fixed; you can’t negotiate lower admin costs like you might when choosing a retail fund.
Investment fund managers – You can choose the type of investment option but not who manages the underlying assets.
3. Making the most of your PSSap
For most APS employees, PSSap is a strong fund — but it’s not “set and forget.” Regularly reviewing your risk profile, contribution strategy, and insurance cover ensures your super remains aligned to your long-term goals.
At Access Wealth Group, we help Canberra public servants get more out of their super — understanding the rules, opportunities, and strategies unique to PSSap.
Book a review with Access Wealth Group today to see how your PSSap is tracking.
This article is of a general nature only and does not take into account your individual financial circumstances, objectives, or needs. It does not constitute personal financial advice. You should not act on any of the information provided without first seeking professional financial advice that considers your personal situation.
Access Wealth Group, Suite 2, Chisholm Shopping Village, 74 Halley Street, Chisholm ACT 2905
Phone: 0410 443 742 | Email: brendan@accesswealthgroup.com.au