If you are a member Government Superannuation Fund you are entitled to join the Government Superannuitants Association of NZ Inc.

www.gsa.org.nz

Any TEU members who are contributors to the Government Superannuation Fund or any associate members who are annuitants drawing on it are eligible to join the GSA. It has branches around the country and the membership fee (currently around $20.00 yearly) is manageable.

The Government Superannuitants Association (GSA) provides a collective voice to protect the superannuation rights of government employees who have contributed to the Government Superannuation Fund and the National Provident Fund (Defined Benefit Plan).

Its purpose is to safeguard the current provisions of these superannuation schemes and to improve them by securing the removal of deficiencies and anomalies.

The Government recognises the Association as the voice of government superannuitants.

The Government Superannuation Fund and National Provident Fund schemes

• The GSF and NPF (DBP) are defined benefit contributory superannuation schemes for government employees funded by contributions from the employee and the employer (the Government).

• The employee contributes a percentage of salary during his/her working life while the employer makes its contribution when the annuity is paid.

• On retirement, a contributor receives an annuity for life. On the death of the annuitant, a surviving spouse or partner receives half the contributor’s annuity.

• The annuity is calculated according to a formula factoring the length of contributory service and the individual’s average salary over the last five years.

• These employment-based superannuation schemes should not be confused with New Zealand Superannuation NZS:
  • NZS is a government provision for New Zealand citizens.
  • The GSF and NPF are schemes for government employees who contract with their employer to receive a retirement annuity for which they contribute part of their salary.