Australia Post Superannuation Scheme

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The Australia Post Superannuation Scheme (APSS) is an exclusive superannuation fund provider, offering super accounts only to Australia Post and Associated Employers, as well as their spouses.

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Types of Australian Post Super Scheme accounts

The Australia Post Superannuation Scheme does not have traditional retail super account options as it is a hybrid defined contribution and benefit scheme. Benefits are made up of member contributions and their investment returns, and an unfunded employer component provided by the government, which is not linked to investment performance.

Australia Post Super Scheme provides the below benefits to their members:

  • Competitive investment performance
  • Flexible investment options
  • No establishment fees and administration fees
  • Insurance in super available for death cover (life insurance), and total and permanent disability (TPD) cover
  • Over-the-phone financial advice available
  • Easy online account access

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Eligibility to join Australia Post Super Scheme

To join the Australia Post Super Scheme, you must be an Australia Post employee, Associated Employee, or the spouse of an employee of either. Members of the public are not eligible to join the Australia Post Super Scheme.

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Australia Post Super Scheme FAQs

Yes, the APSS has a dedicated online portal for super fund members. You can view your account balance online, access statements for your account, download super fund information and more. Access the online portal here.

APSS provides four different investment options to members, from which they can choose the mix they prefer.

  • Cash
  • Conservative
  • Balanced (MySuper)
  • High Growth

When choosing an investment option, it is important to take into account your investment time frames and goals, and your personal risk tolerance for market fluctuations. Learn more about how to choose between different investment options on the Canstar website.

Yes, you can consolidate other super accounts into your Australia Post Super Scheme account.

It’s important to check with your previous super funds for information regarding costs such as exit fees and insurance cover you may lose if you switch super funds. If you have any questions or concerns about the rollover process, give APSS a call on 1300 360 373.

Be sure to check these nine things on your superannuation statement:

  • Personal details are up-to-date
  • Nominated beneficiaries are up-to-date
  • Tax File Number (TFN) is recorded
  • Super contributions from employer and/or your voluntary contributions are correct
  • Investment asset class choices are appropriate for your life stage
  • Amount paid in fees for the year is not too high
  • Insurance in super is still adequate coverage for your needs
  • Super is consolidated. Beforehand, check whether there is insurance or any other benefits attached to the account that you may lose and you’re comfortable to do so
  • The big picture – are you happy with your super fund overall?

Australia Post Super Scheme is operated only for members of Australia Post, associated companies and their spouses. While a portion of member’s super is made from investing contributions, it also includes a defined benefit, financed by the government. Defined benefits are not impacted by investment performance, but are guaranteed by the government. The exact amount a member is entitled to is determined by a formula which takes into account factors like the length of time an employee has worked for Australia Post and Associated Employers.

If you’re considering top performing superannuation funds, check out the following table which contains details of the superannuation funds rated by Canstar. This table has been sorted by one-year performance (highest to lowest).

Please note that the performance information shown in the table is for the investment option used by Canstar in rating of the superannuation product.

Written by: Tim Smith | Last updated: April 13, 2018