Commonwealth Superannuation Corporation Annual Report 2017–18

7. Our Superannuation Schemes

1922 scheme

Overview of the 1922 scheme

The 1922 scheme, which was established under the 1922 Act, is a closed public sector scheme with a membership primarily of pensioners. Contributing members of the 1922 scheme transferred to CSS when CSS opened on 1 July 1976.

The 1922 Act continues to provide for pension payments, deferred benefit entitlements and any reversionary pensions that become payable.

1922 scheme membership

Figure 17. 1922 scheme pensioners over five years

Note: Figures are at 30 June of each year; ‘pensioners’ represent the number of pension accounts, not the exact number of pensions (e.g. multiple recipients such as a spouse and orphan children may be paid under one account).

Figure 18. 1922 scheme pension payments over five years

Note: 1922 scheme pensions are paid by the Australian Government.

Changes to 1922’s legislation and trust deed

No changes were made to the Superannuation Act 1922.