Flexible Rollover Product

Flexible Rollover Product

Growing your super even after leaving the SA public sector.

Maximise your retirement savings with our low-cost and tax effective Flexible Rollover Product (FRP) account. Our FRP allows you to continue to invest your money, while giving you access to some – or all – of your super at any time.

Here’s how it works:

Investing now for the future

while you’re making decisions about your future.

Stay covered

Continuation of Total & Permanent Disablement and/or Death Insurance within 60 days of leaving employment with the South Australian Government (please refer to separate conditions applying to spouse members).

Competitive fees

Your retirement savings work harder for you because we keep our fees low.

The flexible features you need in retirement

  • Seamless transition from a Triple S account
  • Competitive fees
  • Access to lump sum withdrawals1
  • Choice of several investment options
  • Roll in other accounts to the Flexible Rollover Product
  • Make your own contributions (terms and conditions apply)
The flexible features you need in retirement
The flexible features you need in retirement

A choice of investment options

Mix and match investment options to fit you. ● High Growth ● Socially Responsible ● Balanced ● Moderate ● Conservative ● Capital Defensive ● Cash

Your questions answered

  • You are eligible to invest in the Super SA FRP if you:

    • Are still a member of a SA public sector scheme
    • Have received an entitlement from a Super SA scheme in the last 12 months
    • Are a spouse of a current Super SA member, and
    • Have at least $1,500 to contribute or roll in from another superannuation account.
    1. Complete the Flexible Rollover Product Application to Purchase form in the Product Disclosure Statement (PDS) and provide the required supporting documents.
    2. Include a payment of at least $1,500 with your application; OR roll in your Super SA account if you’ve resigned or retired from the SA Government along with any other superannuation accounts totalling at least $1,500.
  • Your super may be taxed at three different stages:
    • Contribution
    • Investment earnings
    • Withdrawal

    No tax is payable on after-tax personal contributions or rollovers received from a taxed superfund.2  

    Tax on withdrawals is based on your age when you withdraw funds, and the tax-free and taxable components that make up your account balance.
    More information about tax rules is available in the FRP Product Disclosure Statement (PDS) and the FRP Reference Guide.

  • Yes. You can open a Flexible Rollover Product account on behalf of your spouse with:
    • An after-tax contribution by your spouse
    • A spouse contribution from the current Super SA member, or
    • A rollover from a complying super fund.
    In order to open a spouse account, your spouse needs to make a contribution or roll over at least $1,500.

  • Subject to the Commonwealth Government preservation rules, you can withdraw some or all of your funds from your FRP. The minimum withdrawal amount is $1,000.
    If your account balance is less than $6,500 you can make one withdrawal each financial year (you also have the ability to subsequently request a full payment and close your account).

    The amount remaining in the Flexible Rollover Product must be at least $1,500.

    If your account balance is $6,500 or more, there is no limit on the number of withdrawals you can make. However if you want your account to remain open, you need to keep at least $6,500 in your FRP following the withdrawal.

    Your FRP may include:
    • A preserved component, and
    • A non-preserved component.

    These rules are different from preservation rules in Triple S and other Super SA schemes.

  • If you have at least $30,000 in the Flexible Rollover Product, reached your Commonwealth Government preservation age and met a condition of release, you can roll over the entire benefit into a Super SA Income Stream.


    Alternatively, if you have reached your Commonwealth Government preservation age and have not retired, then you can set up a Transition to Retirement (TTR) Income Stream. Please note if you wish to leave the Flexible Rollover Product account open and commence an Income Stream, the remaining balance in the Flexible Rollover Product must be $6,500. Find out more about accessing your super in the Flexible Rollover Product Reference Guide.

Investing my super for retirement guide

Investing my super for retirement guide

Here
1 Subject to preservation rules.
2 Some super contributions, including employer and salary sacrificed contributions, are taxed at 15% at the time they are paid into a taxed super fund. However some government schemes, such as Triple S, Lump Sum and Pension Schemes are “untaxed” funds, which means that 15% tax is instead deducted when contributions are rolled over into a taxed scheme. However, any after-tax contributions you have made to your super are tax free, including when you withdraw your super.

Everything about your super - all in the one place

Here you’ll find all the information you need to develop a better understanding about how you can grow, consolidate and access your super.

Grow my super

Grow my super

Consolidate my super

Consolidate my super

Transition to Retirement

Transition to Retirement

Access my super

Access my super

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