We’re pleased to share more details on how stand down affects your compulsory member contributions as a member of Division 3.
Your Credited Service, a key component to calculating your defined benefit, will continue to accrue while you’re stood down. This means your defined benefit will also continue to grow during periods in which you’re stood down.
It also means that your obligation to make your compulsory member contributions continues while you’re stood down. As these contributions aren’t coming out of your pay during this time, you have two choices to help you satisfy this obligation.
Option 1: Request to stop making compulsory member contributions and have your benefit adjusted
You can request to suspend your obligation to pay compulsory member contributions while you’re stood down and have your benefit adjusted to reflect this suspension. Your defined benefit will still continue to grow if you choose this option, but the total value of your total benefit will be adjusted by an offset account that we will create to track your unpaid contributions. Interest will be applied to the offset account from 1 July 2021.
Option 2: Confirm you will continue to make compulsory member contributions
If you choose this option, we’ll send you a statement detailing your unpaid compulsory member contributions and the due date by which you must pay them each quarter. If you choose this option, you’re agreeing that if you don’t pay by the due date, you will be treated in accordance with Option 1; that is, you have requested to suspend your obligation to pay all outstanding and future compulsory member contributions while you’re stood down.
How to make your choice
Please read the information below about how each option works before making your choice at the bottom of this page.
Whichever option you choose, you can pay some or all of your unpaid compulsory member contributions at any time via BPAY. You can learn more about this in the ‘How each option works’ section.
How each option works
Frequently Asked Questions
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