The projected benefit is calculated on the assumption that the employee is a full time employee. If a member is a part time employee when an NTGDIS benefit becomes payable, it will be adjusted by the part time ratio applicable at exit date to reflect the level of employment being undertaken.
If you are on an executive contract the amount you enter in the “Gross Salary (Annual)” field should be your annual notional salary (65% of your total salary package).
Please take these points into account when calculating and viewing the estimate produced by the NTGDIS calculator.
The projected benefit may also be reduced where:
- Invalidity or death occurs within the first ten years and a medical declaration was not provided by the member upon joining the scheme.
- The member has been issued with a Reduced Benefit Classification and the benefit becomes payable within the first ten years of membership.
- The member is entitled to workers compensation benefits (including amounts payable under a workers compensation agreement such as a ‘Hopkins’ agreement).
- The benefit ceases when a member is no longer an employee of the Northern Territory Government.
For more information about the Northern Territory Government Death and Invalidity Scheme (NTGDIS) please refer to the NTGDIS fact sheet. If you have any questions about the NTGDIS, please contact the NT Superannuation Office on (08) 8901 4200 or via email at firstname.lastname@example.org