Member outcomes assessment summary
Year ending 30 June 2024
This information is for the following products:
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A super fund designed for you
At CSC, we’ve spent over 100 years growing the super of Australian Government employees and members of the Australian Defence Force. We use that experience to pursue a better retirement for our customers.
The Superannuation Industry (Supervision) Act 1993 requires us to assess our defined contribution products against criteria set out in the Act.
The Board of CSC have concluded that all assessed products promoted the financial interests of their beneficiaries during the financial year ended 30 June 2024.
You profit
We’re a profit for customers fund, meaning the earnings go back to you.
Global best practice
CSC’s strategy of prioritising resilience within its investment portfolios has been independently recognised at the 2023 Super Review Annual Super Fund of the Year Awards, as the recipient of the Smooth Ride Award for calendar year 2024.
Understanding what matters
With a unique membership, we understand our customers and what they want.
Determination summary
Returns
CSC offers different superannuation products designed to assist its customers achieve retirement adequacy. One, three, five and ten year returns for the Balanced options in PSSap, ADF Super, CSCri – RIS and CSCri - TRIS are shown below:
| Investment returns for Balanced options at 30 June 2024 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Investment option | One Year | Three Years | Five Years | 10 Years | |||||
| Return | Relative to median | Return | Relative to median | Return | Relative to median | Return | Relative to median | ||
| PSSap MySuper Balanced | 9.08% | Higher | 4.72% | In line | 6.06% | In line | 7.03% | In line | |
| PSSap Balanced Ancillary | 9.03% | In line | 4.68% | In line | 6.04% | Lower | 6.99% | In line | |
| ADF Super MySuper Balanced | 9.02% | In line | 4.65% | Lower | 5.95% | Lower | Product less than 10 years old | ||
| CSCri Balanced – RIS | 8.50% | Higher | 4.18% | In line | 5.40% | In line | 7.03% | Higher | |
| CSCri Balanced – TRIS | 9.08% | In line | 4.72% | In line | 6.05% | Lower | Product less than 10 years old | ||
Legend
Higher = 60th percentile or higher compared with competitors
In line = 40th to 60th percentile compared with competitors
Lower = 40th percentile or lower compared with competitors
While most of our customers are invested in the Balanced options, for the full suite of returns across all options, please see the downloadable fund-specific Member Outcomes Assessments at the bottom of this page.
Investment risk
Our Balanced options are designed to achieve a comfortable standard of income in retirement for our customers, while taking less risk on what that future income will be compared to other super funds. Over a 10-year period, we captured 91% or more of the upside returns of our peers, while avoiding over 23% of the downside losses.
Balanced option vs peers 10 years to 30 June 2024
Fees and costs
As a profit-for-customers super fund, we don’t make a profit to pay to shareholders, so we only charge fees to cover the costs of operating the fund. We are always looking to reduce our costs, to return as much as possible of the profits from investing your money back to you. Protecting your investments from risk does however mean that our investment costs are sometimes higher than other funds.
| Fees for balanced options financial year ending 30 June 2024 | ||
|---|---|---|
| Investment option | $50,000 account balance | |
| Total fees and costs (%) | Relative to median | |
| PSSap MySuper Balanced | 1.03% | In line |
| PSSap Balanced Ancillary | 0.90% | Lower |
| ADF Super MySuper Balanced | 1.05% | Higher |
| CSCri Balanced - RIS | 0.83% | In line |
| CSCri Balanced - TRIS | 0.90% | Lower |
Assessment factors
Options benefits and facilities
With our unique membership, we’re committed to getting to know our customers and what they want from their super. Our options allow you to tailor your super to your individual circumstances, without being overwhelming or incurring the additional administrative costs required to support too many choices.
Please select your scheme so we can display the right information for you:
- ADF Super
- CSCri
- PSSap
Relevant content will appear after you select a scheme above.
Investment strategy
CSC’s investment strategy looks forward, so you can have confidence in realising your retirement goals. Our aim is to capture most of the appreciation in asset prices, while mitigating the impact of asset price falls. Environmental, Social and Governance considerations are integrated into our investment decision making.
| PSSap MySuper Balanced Asset Allocation as at 30 June 2024 | ||
|---|---|---|
| Asset type | Target asset allocation | Target range |
| Cash | 12.50% | (0–65%) |
| Fixed interest | 12.50% | (0–65%) |
| Equities | 57.00% | (15–75%) |
| Property | 6.00% | (0–25%) |
| Infrastructure | 7.00% | (0–25%) |
| Alternatives | 5.00% | (0–30%) |
Insurance strategy and fees
CSC’s strategy is to provide appropriate default and tailored insurance cover options designed to be appropriate, affordable, sustainable and flexible. We provide Death and Total and Permanent Disability and Income Protection cover to eligible PSSap and ADF Super customers.
Our insurance premiums balance the benefits available in the event of a claim with the cost of providing cover, ensuring premiums are competitive with other products available in the market and don’t erode your retirement balance.
Scale
The capabilities that CSC offers our superannuation customers are the unique combination of our scale and agility. Our portfolio construction is designed to recognise and move early into new investment opportunities before others crowd in. On a consolidated basis, CSC is the 14th largest among APRA regulated funds. This mid-range scale is considered a competitive advantage as it provides sufficient scale to access all global investment opportunities, without reducing flexibility.
Operating costs
As a government entity and profit-for-customers fund, CSC places a great deal of focus on keeping our operating costs down and keeps fees as low as possible for our customers.
Additional detail
Complete fund assessments can be downloaded below.
Legislated Outcomes Assessment for PSSap 2024
This report details the information considered by the Board to make its annual written determination as to whether the financial interests of the beneficiaries of the product are being promoted by CSC.
Legislated Outcomes Assessment for ADF Super 2024
This report details the information considered by the Board to make its annual written determination as to whether the financial interests of the beneficiaries of the product are being promoted by CSC.
Legislated Outcomes Assessment for CSCri 2024
This report details the information considered by the Board to make its annual written determination as to whether the financial interests of the beneficiaries of the product are being promoted by CSC.
For more information, please contact us.
Awards and ratings
Recipient of superratings' platinum rating for pssap – ‘mychoice super’ and cscri – ‘pension’, and gold rating for pssap ‘mysuper’ & adf super – ‘mychoice super’
CSC
PSSap
ADF Super
CSCri
