The Government Superannuitants Association of NZ Inc.
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.
Our purpose is to safeguard the current provisions of the Government Superannuation Fund scheme and to improve the scheme by securing the removal of deficiencies and anomalies.
The government recognises the Association as the voice of government superannuitants.
The Government Superannuation Fund Scheme
- The GSF is a defined benefit contributory superannuation scheme 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.
- The Government Superannuation Fund Scheme GSF is sometimes confused with New Zealand Superannuation NZS:
- NZS is a government provision for all New Zealand citizens.
- The GSF is a scheme for government employees who contract with their employer to receive a retirement annuity for which they contribute part of their salary.