From the following website.
www.finance.gov.au/superannuation/arrangements-for-australian-government-employees/choices-of-fund-for-new-aps-employees.html
Public Sector Superannuation Accumulation Plan (PSSAP)
The PSSAP commenced on 1 July 2005 under the arrangements established by the Superannuation Act 2005 (2005 Act) [] and the PSSAP Trust Deed []. PSSAP replaced the Public Sector Superannuation Scheme (PSS) and is generally available to Australian Government (AG) employees who commenced employment or appointment on or after that date, including persons employed by an Approved Authority (within the meaning of the 2005 Act) or persons who hold a statutory office.
For a member of the PSSAP, the employer will contribute at a rate of 15.4% of superannuation salary. The employer may also make additional contributions and members have the option of making voluntary personal contributions, including salary sacrifice contributions, to the PSSAP. These amounts are paid into the PSSAP Fund. The PSSAP Fund is managed by the Australian Reward Investment Alliance (ARIA) [] .
The PSSAP benefit is a lump sum. ARIA may offer access to certain retirement income products through an external provider of such products.
If you would like more information on the PSSAP, please visit the PSSAP [] web site.
Since 1 July 2006 AG employers have been required to provide choice of superannuation fund (choice) to new AG employees, new statutory office holders and PSSAP members.
Further information on choice arrangements is available on this website at Choice of Superannuation Funds for New Australian Government Employees.
Choice of Superannuation Funds for New Australian Government Employees
Since 1 July 2006, Australian Government (AG) employers have been required to offer choice of superannuation fund (choice) to members of the Public Sector Superannuation Accumulation Plan (PSSAP) and new employees and new statutory office holders (eligible choice employees) in accordance with the Superannuation Guarantee (Administration) Act 1992 (SG Act).
Under choice, an employer is required to contribute to a complying superannuation fund or retirement savings account (RSA) that has been validly chosen by an eligible choice employee. For information on when a fund has been validly chosen please refer to Super Circular 2006/4.
If the eligible choice employee does not validly choose a fund or RSA contributions are paid to an employer (default) fund. This fund must be a complying superannuation fund that meets the prescribed minimum level of life insurance requirements or an RSA. The PSSAP will be the employer fund for employees engaged under the Public Service Act 1999. Employers of other employees will have the flexibility to nominate the PSSAP or another appropriate complying superannuation fund or RSA as their employer fund.
Contractors and consultants who are employees for superannuation guarantee purposes only because they work under a contract that is wholly or principally for their labour and are not common law employees are not eligible to join the PSSAP. For these employees, an employer must comply with the choice requirements under the SG Act when nominating an employer fund.
For further information on the selection of an employer fund and insurance arrangements for AG employees please refer to Super Circulars 2006/1 and 2006/2.
Employers are taken to comply with choice in respect of contributions that are paid for employees:
into the Commonwealth Superannuation Scheme (CSS) or the Public Sector Superannuation Scheme (PSS); or
under the Superannuation (Productivity Benefit) Act 1988; or
under or in accordance with a workplace agreement.
Further information on choice arrangements is available at the Australian Taxation Office (ATO) website at www.ato.gov.au/super [] or by contacting the ATO on 131 020.
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