Parliamentary Contributory Superannuation Act 1948 - Parliamentary Contributory Superannuation Scheme (PCSS)
Who does this information apply to?
The following information applies to serving parliamentarians who are members of the PCSS, former members in receipt of a pension benefit and spouse beneficiaries.
Who determines parliamentary salaries?
The Remuneration Tribunal determines the salary paid to serving parliamentarians. It also determines a separate superannuation salary for the PCSS. The Remuneration Tribunal is independent of the Government.
What is the salary under the PCSS?
The Remuneration Tribunal has set the parliamentary base salary at $199,040 per annum.
The base salary for superannuation purposes under the PCSS is $157,500 (this is called “parliamentary allowance”). This superannuation salary is used to determine contributions paid by parliamentarians who are PCSS members, as well as pensions payable on retirement.
What is the salary under the PCSS for members with additional offices?
Serving parliamentarians who hold Ministerial or office holder positions receive additional salary for these positions (this is called “salary” for Ministers and “allowance by way of salary” for office holders). These additional salaries are expressed as a percentage of the parliamentary base salary.
For Ministers and officer holders the salary for superannuation purposes under the PCSS is the relevant salary less 20%.
How do parliamentary salaries affect PCSS beneficiaries?
PCSS pensions are increased in line with increases in the base salary for superannuation purposes under the PCSS.
How do parliamentary salaries affect contributions for serving parliamentarians in the PCSS?
PCSS member contributions for serving parliamentarians in the PCSS are based on the superannuation salary, which is currently $157,500.
For example, for a parliamentarian with no additional offices, the annual member contribution is:
11.5%* of the superannuation salary ($157,500) = $18,113
Note: A lower contribution rate of 5.75% applies to those with 18 or more years’ service.
How will PCSS pensions increase in the future?
The Remuneration Tribunal is responsible for setting the salaries for superannuation purposes under the PCSS.
As the Tribunal is an independent body, the Department of Finance has no information regarding future determinations by the Tribunal.
Where can I get further information?
More information about the PCSS can be found on the Department of Finance website.
If you have any questions about the PCSS, please contact the Parliamentary Superannuation Team by telephone on (02) 6215 3676 or (02) 6215 3789, or by e-mail to email@example.com.
Last updated: 20 April 2016