Government entities are required to make employer superannuation contributions for the Commonwealth Superannuation Scheme (CSS) and the Public Sector Superannuation Scheme (PSS) at a rate which reflects agency superannuation costs. To assist with this requirement, the Department of Finance (Finance) has a contract for the provision of actuarial services. The costs relating to these actuarial services are to be met by those entities.
The costs are charged annually by Finance and are based on contributor numbers of CSS and PSS members within the entity at the end of the financial year. The schedule of charges for 2023-24 is based on a fee of $17.18 per member ($16.70 in 2022-23) for agencies with a combined membership of at least 100.
If you have any queries regarding actuarial invoicing arrangements or employee numbers, please contact the Superannuation and Funds Financial Team at siff@finance.gov.au.
