APS super fund releases new retirement solutions

The Commonwealth Superannuation Corporation (CSC), the super fund servicing members of the Australian Public Service (APS) and the Australian Defence Force (ADF), has released a new range of retirement income solutions.

As part of its new Retirement Income Strategy (RIS), CSC is offering solutions that address the individual circumstances and needs of each customer through a combination of digital tools and resources and personalised, face-to-face advice.

The strategy is suited for all customers no matter where how close or far away they may be to retirement, with communication about how to maximise retirement income, manage longevity risks and prepare for everything in retirement commences from the age of 45.

“We know three-quarters of contributing CSC customers are already on track for a comfortable retirement. This strategy will further enhance these outcomes with tailored support before, during, and after retirement,” Adam Nettheim, CSC’s Chief Customer Officer, said.

“Retirement can often be overlooked as people progress through their careers. The earlier our customers start planning, the better retirement they will enjoy. Our Retirement Income Strategy is designed to educate, support and guide our customers on this journey. This launch is just the beginning with an exciting road ahead. At CSC we are focussed on our journey from pension administrator to retirement partner.”

The new strategy also offers a series of personalised options based on customer profiles, several of which include lifetime annuities developed in partnership with Challenger. The profiles aim to assist members in making more informed decisions about the retirement income options available that are best suited to them and will provide them security and confidence in retirement.

According to a statement from CSC, the strategy also offers:

• Comprehensive support materials: A thorough retirement workbook, complemented by interactive modules and a retirement video series, offer extensive support to customers.
• Online tools and resources: New online content and tools to guide customers through their thinking and empower them to take appropriate actions to maximise their retirement income and retire with confidence.
• Targeted communications: Tailored retirement income communications will be sent to customers at specific ages, providing them with relevant support and guidance for their life stage.
• Optimisation of engagement channels: An ongoing analysis of communication channels, conducted to determine the most effective ways to engage customers at various ages, ensuring optimal interaction and support.