Merger of Commonwealth Superannuation Corporation and ComSuper
There will be no change to scheme rules, member entitlements or services when Commonwealth Superannuation Corporation (CSC) and ComSuper merge on 1 July 2015.
The Australian Government announced the merger in the May 2014 Federal Budget.
The merged organisation will be called Commonwealth Superannuation Corporation. It will continue to be trustee of the public sector and defence force super schemes, meaning almost 800,000 members and pensioners will have one integrated superannuation provider managing their account. The merger will reduce overheads and duplication in service delivery and scheme administration.
The merger is subject to legislation passing in Parliament. The Governance of Australian Government Superannuation Schemes Legislation Amendment Bill 2015 was introduced into the House of Representatives on 19 March 2015.
We’ll announce on this website when the legislation is passed.
Following the merger, CSC will seek to maintain and improve on the high standard of service and investment expertise expected by its members and pensioners.
There is nothing members, pensioners or employers must do as a result of the merger.
There will be no impact on service delivery or the way investments are managed (whether or not the merger goes ahead on 1 July 2015). There will also be no change to:
- member and employer websites;
- online account access;
- employer super obligations;
- scheme phone numbers and postal addresses; or
- pension payment dates (although payments will appear from ‘CSC’ rather than ‘ComSuper’ on pensioner bank accounts from 1 July 2015 if the merger proceeds).
The Australian Government’s decision to close MilitarySuper to new entrants on 30 June 2016 and open a new super scheme called ‘ADF Super’ on 1 July 2016 is separate to the merger.
If you have questions about the proposed merger, please contact us.