CSC named Money's Best of the Best for Innovation in Retirement

The profiles, launched in July this year as part of the first phase of CSC’s Retirement Income Solutions, align to a range of financial circumstances including super balance, home ownership and lifestyle expectations. They have been designed to help members make informed decisions about the transition and retirement options available to them, helping to reduce cognitive load in the lead-up to retirement. The profiles are complemented by a suite of innovative resources including comprehensive tools, online guidance and targeted life stage emails.

CSC’s Chief Customer Officer, Adam Nettheim, said the launch of the profiles marked an important stepping stone in CSC’s journey from pension provider to retirement partner.

“We don’t want to just help take care of our members’ finances, we also want to be active partners in their retirement journeys, ensuring they live well beyond just the financial figures,” he said.

“You only retire once, and like buying a new home, most people are new to it. It’s such a big step in anyone’s life, and we want to help lessen our members’ cognitive load during this time. Our retirement profiles aim to do this.”

From a CSC member perspective, working through the member profiles is straightforward. Members select the boxes that match their lifestyle, whether they be a renter, homeowner, single person or part of a married couple. Behind the scenes, however, the creation process was a lengthy one, involving close collaboration between CSC’s Customer Group and Investment Team—the teams bringing together data to inform the makeup of the profiles and create online support and guidance resources.

“Along with quantitative data, we gathered qualitative information through surveys and person-to-person interviews with CSC members, and non-members, to see how they felt about retirement. By throwing our net wide we were able to take bias out of the results. The end result is that our members can now access account based pensions that meet their individual needs, backed by appropriate investment solutions,” Nettheim said.

Money Magazine’s annual Best of the Best Awards recognise the leading financial product and service providers in Australia. They are designed to help more Australians grow their personal wealth through the magazine’s independent research and insights on the country’s best value financial service providers.