Investment options

There are five investment options for you to choose from. You can choose one (or more) of four options, each with a different mix of assets and risk/return profile, or Super Steps where the mix of investments changes automatically based on your age.

Super Steps is the default investment option if you don’t tell us how you would like your savings invested when you join the scheme.


Asset mix options

Now let’s look at the four options that mix growth and income assets in different amounts.

You can choose a single option or combine them to create your own mix of growth and income assets, but remember, if you put 50% in Growth and 50% in Stable, you are effectively investing in Balanced.

You can see how different combinations of the options look on the secure part of the website. Log in, select ‘Your investments’ and then ‘Investment choice planner’.

You can choose a different option for your existing account balances and for future contributions.

Read more about the mix of assets each of these options invests in, including the benchmark asset allocations.

Super Steps

The underlying principle of Super Steps is to reduce your risk/return profile progressively over time using the Growth, Balanced and Stable options as building blocks. Up until age 45, your funds are invested solely in Growth. From age 45, your funds will be changed progressively to the Balanced and Stable options as you get older.

If you choose Super Steps, all your savings (both existing account balances and future contributions) will be invested in the same option or combination of options.

You cannot mix and match between Super Steps and the other four options. However, you can opt in or out of Super Steps whenever you choose.

Investment mix

This table shows how your investment mix changes as you get older. Your investment mix changes on 1 April each year, not your birth date or the anniversary date of joining the scheme.




This website is provided by Mercer (N.Z) Limited on behalf of the trustee of the Police Superannuation Scheme (PSS). The trustee pays a fee for the provision of this service, however this fee is not conditional on you using this service or acting on the information or advice provided through this service.

PSS Trustees Limited is the issuer of the Police Superannuation Scheme (PSS). A copy of the PSS product disclosure statement is available under Documents and forms and at