What you need to know
Retirement income is provided to PayPal employees through the mandatory superannuation plan funded by employers and a flat-rate pension provided through Australia’s general revenues.
What’s included
When you retire, you receive a lump-sum payment equal to the balance of your superannuation account. The plan also includes a death and total and permanent disablement (TPD) benefit.
Contributions
Employee: You can contribute to the superannuation plan on a voluntary basis.
Employer: Provided pursuant to statutory requirements.
If you’re in PayPal’s nominated default fund, smartMonday PRIME, PayPal will also pay the premium cost of the death and total & permanent disability benefit offered through that fund.
Investment options
You can choose from more than 21 individual investment options within 3 categories:
- Pre-mixed options
- Sector options
- Specialist options
If you choose a different superannuation plan, PayPal would make the same contribution. Consult your plan administrator(s) about plan benefits and investment options.