FREQUENTLY ASKED QUESTIONS

1. Do I have to declare my GSF pension for income tax purposes?

All GSF pensions became free of tax on 1 April 1990. Therefore members resident in New Zealand no longer need declare their allowance to the Department of Inland Revenue.

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2. What do I need to do if I want to change my bank account?

If you wish to change your bank account Datacom needs to be advised in writing, providing your full bank account number and pay date you want the change to take effect from. You can use the Change in Personal Details Form which can be found on this website under Documents. Please note that your pension (retiring allowance) must be paid to a bank account in your name.

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3. Can my pension be paid into an Overseas Bank Account?

If a member intends to reside overseas permanently, depending on the country of residence, their pension (retiring allowance) may be paid to an overseas bank account.

Datacom should be notified of any change of address as a certificate requiring confirmation of the member’s whereabouts is sent annually. Failure to return the certificate could result in suspension of the pension (retiring allowance).

1.  I will be retiring/resigning/made redundant from my position. What do I need to do?

You need to complete form GS20/1 (see Booklet GS20) which advises Datacom of your election on ceasing Government service.
If you are eligible to take your retiring allowance immediately on ceasing Government service you may wish to contact OPSC before you cease service so that we may obtain from Datacom details of the options available to you (see question 13). These options will be provided, in any event, following your cessation of service.

 

2. I will be retiring/resigning/made redundant from my position.Does my employer need to do anything?

Your employer should confirm the details of your cessation of service to Datacom, advising your last day of paid service for GSF purposes. Datacom will request your employer to complete a GS1000 form.

 

3. I will be commencing with another Government employer.What should I do?

You should complete form GS1 (see Booklet GS19) and send it to Datacom who will check that you are eligible to continue contributing to GSF and contact your new employer for your commencement details.

It is recommended you contact Datacom if you are considering alternative employment to confirm you will be eligible to continue contributing to GSF through that employer.

1. What do I have to pay?

If you are over age 50, or under age 50 and have not formally elected to cease contributions to GSF prior to going on leave, you must pay contributions on a full cost basis during any period of leave without pay. This includes both your contribution and the equivalent of the employer subsidy.

 

2. Can I elect to cease contributions while on leave without pay?

If you are under age 50, you may elect to cease contributions while on leave without pay. However, you must formally elect to cease contributions prior to commencing the period of leave. Contributions must be paid up to the effective date of the election.

If you wish to make an election to cease contributions in these circumstances please contact the scheme administrator before you go on leave without pay.

On subsequently reaching age 50, if you have not recommenced contributions, your contributions paid to date will be paid and you will not be eligible to rejoin GSF.