PSS and CSS Long Term Cost Report

The Public Sector Superannuation Scheme (PSS) and Commonwealth Superannuation Scheme (CSS) are reviewed every three years by an independent actuarial firm to determine the schemes' cost. The review examines the size of the schemes' unfunded liabilities, the timing of the projected payments (to be made over a period of decades), and the notional employer contribution rates.

The results of the most recent review are outlined in the PSS and CSS Long Term Cost Report (LTCR) 2014, which is based on data as at 30 June 2014.

This latest report outlines an increase to the PSS and CSS unfunded liability to $109.8 billion as at 30 June 2014. This increase is due to factors including:

  • increases in pension take-up (i.e. more individuals taking a pension rather than a lump sum);
  • continuing improvements in mortality rates;
  • PSS members contributing at rates higher than in the past leading to higher benefit accruals; and
  • members staying longer in the scheme to maximise their retirement benefits. 

A link to the 2014 LTCR and previous (2011, 2008, 2005, 2002 & 1999) LTCRs are provided below.


Long-term Cost Report [PDF Document 1.1 MB ]
Long-term Cost Report [Word document 307 KB ]


Long-term Cost Report [PDF Document 1.3 MB ]
Long-term Cost Report [Word document 526 KB ]


Long-term Cost Report [PDF Document 428 KB ]
Long-term Cost Report [Word document 1.4 MB ]


Long-term Cost Report [PDF Document 346 KB ]
Long-term Cost Report [Word document 201 KB ]


Long-term Cost Report [PDF Document 358 KB ]
Long-term Cost Report [Word document 206 KB]


Long-term Cost Report [PDF Document 176 KB ]
Long-term Cost Report [Word document 125 KB ]

If you cannot access these documents please email:

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Last updated: 02 November 2015