What is the Productivity Benefit?

What is the Productivity Benefit?

ADF members who have served since 1 January 1988 are entitled to receive a superannuation productivity benefit.  The productivity benefit averages approximately 3% of salary and, in most cases, is preserved until permanent retirement from the work force at or after preservation age (usually age 55).   The benefit is usually paid as a lump sum by Comsuper directly to the member when entitlement arises.

The productivity benefit is considered to be a Government-financed superannuation benefit (an employer benefit) and thus will usually be taken into account when assessing the compensation payable for incapacity to work under ss 20, 21 and 21A of the SRC Act.