SIS upper limit

The Superannuation Industry (Supervision) Regulations (SIS) place certain restrictions on the amount of cash lump sum that can be paid to members who are not permanently leaving the workforce, or have not reached their preservation age.

This means that if you are not permanently retiring from the workforce or have not reached your preservation age, any cash lump sum paid to you cannot exceed your SIS upper limit. Your SIS upper limit is the cash amount you would have received if you had been involuntarily retired (retrenched) on 1 July 1999.

Any PSS lump sum amount that exceeds your SIS upper limit must remain preserved in the PSS or in some cases can be rolled over to a rollover institution.