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## Note 47 – Defi ned benefit superannuation plans 

The consolidated entity operates three superannuation plans that provide defined benefit amounts to employees or their dependants upon retirement, resignation or death. The plans provide, in the majority of cases, benefits in the form of a lump sum based on the employee’s years of service and final average salary. Contributions to the plans are predominantly based on a percentage of employees’ salaries and wages. These defined benefit plans are all closed to new members. All new members receive accumulation benefits only. 

The three plans are the SuperSolution Master Trust – AGL Division (SSMT), Equipsuper Fund (EF) and Electricity Industry Superannuation Scheme (EISS). 

The consolidated entity also contributes to defined contribution superannuation plans for employees, which are also provided by these plans. Contributions made to these defined contribution plans are expensed as incurred. 

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