You can contribute between 2% and 10% (in whole percentage amounts) of your super salary, or at a 0% rate (meaning you are not contributing to your defined benefit). These are known as your personal fortnightly contributions or your member contributions. Your contribution rate is based on your gross fortnightly salary and is deducted from your after-tax pay.
For example, John’s super salary on his last birthday was $100,000. He elects to contribute at 10%. His personal fortnightly contributions are calculated as:
$100,000 divided by 26 = $3,846.15 gross per fortnight
$3,846.15 x 10% = $384.62
Therefore, John contributes $384.62 from his after-tax pay each fortnight.
Your Benefit Multiple (part of the set formula to determine your PSS benefit) accrues according to your rate of contribution. It actually grows each fortnight with each contribution you are due to make.
Member contributions are classed as non-concessional contributions for tax purposes.
To contribute into your PSS account, you must be employed by a PSS participating employer such as an Australian Government department or agency.
Preserved benefit members cannot contribute to PSS.