As a result, it is imperative that you understand these benefits before making any changes to your existing arrangements.

The team at Profusion Planning has a detailed understanding of the unique benefits offered via GESB West State and Gold State and are happy to assist in ensuring you construct the appropriate financial strategy to suit your personal circumstances.

To help make things a little easier, we have compiled a list of Q & A’s, which will provide you with some of the most important differences between your GESB accounts and other funds for your reference.

Are Gold State and West State unique funds?


Yes, both Gold State and West State are both untaxed, constitutionally protected funds. These are important facts to know as there aren’t many funds across Australia that offers these benefits.

Is there additional benefit if I have a pre 1983 service date?


If you have pre 1983 service (eg. you started contributing to superannuation before July 1983), it is imperative that you receive professional financial advice to ensure you optimise your tax position inside your Gold State or West State funds. If the correct strategy is not followed you may pay more tax than you need to.

What do these benefits mean?


Untaxed funds work differently to convention funds in that tax is not paid on any contributions or earnings that your fund receives while in accumulation phase, rather this tax (15%) is deferred until the time you receive the benefit. As a result, you have 100% of your contributions and investment earnings compounding over your working life rather than 85%

Constitutionally Protected funds provide you with more favourable concessional cap limits as employer or personal deductible contributions are not counted in your concessional contribution cap.

I’ve been told my Gold State is a Defined Benefit Scheme – what does this mean?


This simply means that your Gold State benefit is determined by a formula that includes your final average salary, years of service and average contribution rate. This means your final benefit is not impacted by markets or other investment returns.

What fees do I pay?


There are no separate fees charged to you for the administration, insurance and other running expenses of Gold State Super.

West State Super is competitively priced at under 1% per annum, with total running cost determined by your underlying investment choice.

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