Defined Benefit Members
As a defined benefit member, you build up a multiple of your Final Average Salary (FAS) as a superannuation benefit. The rate the benefit multiple builds up each year depends on the rate at which you choose to contribute. More information about your defined benefit membership can be found in the AvSuper guide for Defined Benefit Corporate Members.
In general, an AvSuper defined benefit is greater than the 9% minimum currently required under superannuation guarantee law.
If your average annual contribution rate over the total period of your defined benefit membership is 5% or less, your benefit multiple will build up as shown in Table 1 below.
If your average contribution rate over the total period of defined benefit membership is more than 5%, the benefit multiple builds up as shown in Table 2 below.
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Special conditions and adjustments may apply for periods of leave or part-time employment. Contact us for more information.
Contribution rates "catch-up"
If you have contributed at less than 5% you can "catch-up" on contributions to average 5% per annum and increase your benefit multiple.
Part-time work
Your benefit is calculated on a pro-rata basis for any period that you were a part-time employee.
Your equivalent full-time salary is always used in benefit calculations. However your multiple will grow more slowly if you work reduced hours.
Your super benefits
How much you can withdraw from AvSuper depends on why you are withdrawing it.
