Premiums

Additional Death and Invalidity Cover (ADIC) premiums will increase from 22 March 2018. The new premium rate tables are set out below.

Why the change?

We regularly review our insurance to make sure participating members are sufficiently protected and that the premium rates charged remain competitive and fair.

Since the last premium review in 2016, superannuation funds have seen costs of insurance cover increase (some quite substantially).This increase is directly related to the increase in the number of claims. ADIC premiums need to accurately reflect the increasing cost of this cover.

You don’t need to take any action

Insurance through super still remains a cost effective way to hold insurance and your employer will continue to pay half of the standard premium of your ADIC for as long as you are eligible. The new premium will be reflected from payday 22 March 2018. You should check with your payroll area if this does not occur.

Need more information?

Call us on 1300 000 377 or email us at members@pss.gov.au

ADIC premium rates from 22 March 2018

PSS ADIC Rates from 22nd March 2018
Age Last BirthdayAnnual cost of additional benefit cover per $1000 cover

15

0.21

16

0.24

17

0.29

18

0.33

19

0.38

20

0.38

21

0.40

22

0.39

23

0.41

24

0.42

25

0.41

26

0.42

27

0.45

28

0.46

29

0.49

30

0.50

31

0.54

32

0.55

33

0.59

34

0.66

35

0.73

36

0.80

37

0.89

38

0.98

39

1.09

40

1.18

41

1.30

42

1.45

43

1.66

44

1.89

45

2.14

46

2.45

47

2.80

48

3.19

49

3.61

50

4.08

51

4.62

52

5.26

53

5.90

54

6.64

55

7.43

56

8.31

57

9.36

58

10.09

59

10.91