Transport Scheme

No one knows your Transport Scheme better than we do.

The Transport Scheme is a defined benefit fund established in 1988 and closed to new members since 31 December 1993.

The Transport Scheme is made up of employees of a transport authority as defined by the Transport Superannuation Act 1988, who joined the scheme between 1 July 1988 and 31 December 1993. The scheme also includes members who have transferred from other funds.

How your Transport Scheme works

Throughout your working life, both you and your employer will make contributions to your Transport Scheme.

Your end benefit is calculated using a formula which takes into account a number of elements, including your:

• Salary
• Age
• Period of service
• Contribution rates, and
• Full- or part-time employment status.

Grow your super - see the strategies that can make the difference

Benefit options

As a Transport Scheme member, once you have met a conditions of release, you will generally be entitled to a lump sum benefit. In limited circumstances, a pension may be payable.

You can transfer^* your lump sum benefit into our award-winning Accumulation Plan or take out an Income Stream. Our Accumulation Plan will give you the flexibility to continue to receive contributions if you are still working, increase your insurance^** cover and nominate beneficiaries.

Find out more about our Accumulation Plan

In limited circumstances, Transport Scheme members may be eligible for a part-pension. For more information refer to the Transport Scheme Handbook on our PDS and handbooks page.

Disability benefits

Transport Scheme members who are under age 60 always have disability cover. After applying for a benefit, ESSSuper will determine whether you're eligible for:

• A temporary pension (with payments that don't reduce your retirement benefit)
• A permanent disability pension
• Commuting a permanent disability pension into a full or partial lump sum benefit, or
• An ill-health retirement lump sum benefit.

About temporary pensions

If you're eligible, a temporary pension may be payable:

• If it appears you're likely to substantially recover from your injury, disease, or infirmity
• For a maximum period of up to two years (as long as you don't finish employment and medical evidence supports continuation of the benefit).

ESSSuper will make a decision on a disability claim after you've attended at least two independent medical examinations with Board-approved doctors.

To learn more or complete an application form, please refer to our Claiming a disability benefit (defined benefit) fact sheet, available in the 'Looking after your loved ones' section of our Publications web page.

Working part-time in the transition to retirement

As you approach retirement, it can be helpful to make changes at work to ease the transition.

One way to do this is by reducing your hours or changing to a more flexible role. To make the transition gradual, you can consider:

• Talking to your employer about your options, e.g. purchasing extra leave
• Discussing your needs with your family, and
• Meeting with a Financial Advisor^† to make a plan.

If your super is in one of our State Super funds, reducing your hours is unlikely to have an impact on the Final Average Salary used to calculate your retirement benefit, although it will impact your benefits by reducing the rate at which your super accumulates. You can find out more in the relevant handbook available on our PDS and handbooks web page.

Planning for your future can be a daunting task, but you're not alone. Contact us for expert information and financial advice about your super from one of our Financial Advisers.^† You may also benefit from meeting with a Member Education Consultant for general advice about your ESSSuper account.

On the other hand, if you want to increase your take-home pay before retiring, you could:

• Work extra hours at your current job
• Look for additional work outside of your current job (which may be subject to approval by your current employer),  or
• Ask for a pay rise.

However, before taking any action to increase your take-home pay, it's important to consider:

• Talking to your employer about overtime options
• Checking your conditions of employment
• How much tax you will need to pay on any extra income
• The impact on your work/life balance.

Accessing your superannuation while working

If you'd like to reduce your work hours without decreasing your income, accessing your super while working could be an option. You may be able to access a transition to retirement pension such as our Working Income Stream to do this.

To access a Working Income Stream you need to:

• Have some or all of your super in an accumulation account (not a defined benefit), and
• Have reached the superannuation preservation age.

It's crucial to be aware that drawing on your superannuation while still working will mean having less money when you retire.

You can learn more about transitioning to retirement on the Government's Moneysmart website.

Thinking about retirement?

Your entitlements and options are dependent on your circumstances, and the complexities can be confusing. It's important that you receive accurate information - remember, no one knows your Transport Scheme better than ESSSuper.

We can help you understand your options in detail, and if you need, we can refer you to our Financial Advisers^†, who can advise you on which option is best for your personal situation. 

Be in the know: Find out more about our advice^† and education services today

Exempt officers

Exempt officers are members who cease active membership of the Transport Scheme without having to terminate their employment with their current employer. They may be entitled to deferred benefits without terminating their employment.

Before exempting out of the Transport Scheme, you first need to:

• Confirm with your employer whether you’re eligible to become an exempt officer.
• Receive exempt officer information/estimates from ESSSuper.

The formal eligibility requirements vary. Please refer to the Transport Scheme Handbook on our PDS and handbooks page or contact us for more details.

Emergency Services Superannuation Board ABN 28 161 296 741 (ESSB), the Trustee of the Emergency Services Superannuation Scheme ABN 85 894 637 037 (ESSSuper). The information contained on this web page is of a general nature only. It should not be considered as a substitute for reading the relevant ESSSuper Product Disclosure Statement (PDS) that contains detailed information about ESSSuper products, services and features. Before making a decision about an ESSSuper product, you should consider the appropriateness of the product to your personal objectives, financial situation and needs. It may also be beneficial to seek professional advice from a licensed financial planner or adviser. An ESSSuper PDS is available on our PDS and handbooks page or by contacting us.

* Insurance cover is subject to eligibility criteria and other terms and conditions in the Policy. Please read the Product Disclosure Statement relevant to your particular fund, available on our PDS and handbooks web page, for more information.

** You should check any relevant exit fees you may incur, or any insurance arrangements that may be forfeited, or any other effects this transfer may have on your benefits, before rolling your money into our fund.

^† ESSSuper Financial Advisers are authorised representatives of Link Advice Pty Ltd (Link Advice). Link Advice holds a current Australian Financial Services Licence No. 258145 and is responsible for the financial services provided to you. ESSSuper has an arrangement with Link Advice Pty Ltd to provide financial advice to ESSSuper members. ESSSuper pays Link Advice a fee for this service. Neither the Board, nor the Victorian Government, guarantee or endorse any recommendations made by Link Advice, or are responsible for the advice and actions of Link Advice.