GESB

GREG STEWART

GESB Key Account Manager for WA Police

Super support for WA Police

SUPERANNUATION

WITH RECENT HEADLINES drawing attention to investment markets, you may be thinking more about your super and the money you have saved for your retirement.

That could mean you’ve been thinking about your super account with GESB. As the default super fund for the WA public sector, GESB has been looking after the super savings of current and former public sector employees for over 80 years. More than 8,800 WA Police Officers and staff are current GESB members – about 90% of the WA Police workforce.

As GESB’s dedicated account manager for the WA Police for the past five years, I’ve been speaking firsthand to members stationed across Perth and regional WA. Here are some of the most common questions I get asked by WA Police employees.

More than 8,800 WA Police Officers and staff are current GESB members –about 90% of the WA Police workforce.

Q1: WHAT EXACTLY DO YOU DO FOR WA POLICE?

My job is to talk to WA Police employees about their super and retirement planning. In the past 18 months, I’ve visited many stations and offices across Perth and regional centres including Mandurah, Geraldton, Albany, Karratha, Port Hedland, Bunbury and Northam.

If you’ve come through the Academy in the past five years, you might remember me from the presentation in the Raked Theatre – talking about how super works and the importance of making additional contributions.

I also run online webinars specifically designed for employees in the WA Police department to help you learn more about your super and prepare for retirement.

Talking to members has given me a unique insight into the things that are important to them – such as financial security, insurance cover that they can rely on and maximising their savings.

Q2: WHAT PRODUCTS AND SERVICES DOES GESB OFFER?

GESB currently has 245,000 members and over $33 billion in funds under management (as at 30 June 2022). Depending on when you joined the public sector, you may be a member of Gold State Super, West State Super or GESB Super. We also offer retirement pension products for members nearing retirement or who have already retired. Depending on the type of account you have and the circumstances of your employment, you may have insurance with us, and your money may be invested in one of our investment plans. You can view and manage your account through our online portal, Member Online, or by calling us and speaking to a WA-based consultant.

You can also attend educational resources at no cost to you including online webinars and in-person seminars to help you learn more about your super options. Visit gesb.wa.gov.au/police for more information.

Q3: WHAT BENEFITS DOES GESB PROVIDE TO EMPLOYEES IN WA POLICE?

There are a few benefits you receive as a WA public sector employee, including: • Payment of super on additional items that private sector workers are not generally entitled to, such as the on-call allowance, parental leave and commuted overtime • Compulsory employer contributions paid to your super fortnightly, meaning more frequent purchasing of units in the fund • Tailored Salary Continuance

Insurance for Sworn Police Officers

We know it’s important for WA Police Officers to have financial security in the event of a medical discharge. In 2019, I worked with the WA Police Union to align GESB’s Salary Continuance Insurance (SCI) offering with the unique sick leave entitlements for Sworn Officers, WA Police Medical Discharge process and Police Compensation Scheme. So those Officers have peace of mind that their insurance cover is suited to their occupation.

Q4: WHAT ARE YOUR TOP TIPS FOR SUPER?

Your employer is required under Australian law to contribute 10.5% on top of your pay to your super, but this may not be enough for you to have the retirement you want. I suggest making additional contributions if you can (depending on your unique circumstances), through salary sacrifice – voluntarily putting money into your super. You can easily set up regular salary sacrifice payments by emailing Personnel Services. We always recommend you consult with a suitably qualified adviser before making any decisions about your super, including salary sacrifice.

Some of my other tips are: • Update your personal contact details as soon as you can in

Member Online, as the initial contacts provided to GESB will be your work contact information • Review your investment plan to make sure it’s right for you • Register to attend a Police-specific webinar at gesb.wa.gov.au/police

WANT TO KNOW MORE?

Visit gesb.wa.gov.au or call your Member Services Centre on 13 43 72 if you have any questions about your account.

If you join one of my WA Police webinars, I’ll be happy to answer any questions. Find out more

gesb.wa.gov.au/police.