UniSuper membership

Depending on your category of employment, there are different memberships that correspond to the different contracts within ANU.

Employment contract Superannuation entitlements
Continuing employment Defined Benefit Division; Accumulation 2 
Fixed term (more than 12 months) employment Defined Benefit Division; Accumulation 2
Fixed term (less than 12 months) employment Accumulation 1
Casual employment Accumulation 1*

* Staff previously employed under the Live Performance Award 2010 have the option of Choosing their own Super Fund. Visit the ATO website for further information and obtain a Standard Choice Form.

Defined Benefit Division & Accumulation 2

UniSuper offers two types of superannuation accounts for continuing and fixed term (more than 12 months) employees; Defined Benefit Division and Accumulation 2.

Defined Benefit Division is the default account for new continuing and fixed term (more than 12 months) employees joining UniSuper.

What's the difference?

The key difference between these two types of super is the way benefits are calculated.

Defined Benefit Division

In the Defined Benefit Division the bulk of a superannuation benefit is calculated (or defined) using a formula which incorporates age, salary, years of membership, average service fraction and an average contribution factor.

For more information on the Defined Benefit Division, visit the UniSuper Defined Benefit Division website.

Accumulation 2

Accumulation 2 operates like an investment account where contributions are invested in the member's chosen investment strategy and the super balance accumulates over time with investment returns (which may be positive or negative in any given period). A final benefit is dependent upon the performance of these investments.

For more information on Accumulation 2, visit the UniSuper Accumulation 2 website.

Accumulation 1

UniSuper offers Accumulation 1 membership for fixed term (less than 12 months) and casual employees. Accumulation 1 provides members with an ultimate lump sum benefit that includes compulsory employer contributions plus any lump sum, voluntary contributions, and investment returns credited or debited to the account.

For more information on Accumulation 1, visit the UniSuper Accumulation 1 website.

Page owner: Human Resources