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2015-16
Annual Report

Annual Report 2016

About CSC

CSC was established on 1 July 2011, following the passage of legislation to merge the Boards responsible for the public sector and military superannuation schemes and Funds.

CSC manages 11 super schemes (outlined on pages 10-11) and provides superannuation services to Australian Government employees and members of the Australian Defence Force (ADF). CSC’s primary function is to administer the schemes and manage and invest the Funds in the best interests of all members and in accordance with the provisions of the various acts and deeds that govern the schemes.

Vision

CSC’s vision is to grow the wealth of Australian Government employees and members of the ADF for their retirement.

Mission statement

  • Achieve consistent long-term investment return targets within a structured risk framework.
  • Provide information and services to members that are relevant, reliable and helpful.

Strategic objectives

  1. Achieve investment excellence:
    • offer investment options and services appropriate to member needs
    • for the default Funds, achieve an average investment return of the Consumer Price Index (CPI) + 3.5% per annum over 10 years with negative returns expected in three to four out of every 20 years.
  2. Achieve industry best practice in member interaction:
    • provide useful education and financial advice services for members
    • support employers to assist service delivery
    • work with administrators to achieve best possible scheme administration services.
  3. Be a capable, efficient and sustainable organisation:
    • achieve excellence in Board governance policy and practice
    • attract and retain high quality people
    • retain existing members and attract eligible employees.

Legislative objectives and functions

CSC’s objectives and functions as set out under its governing legislation are to:

  • administer the schemes and manage and invest the Funds
  • receive payments from employers in accordance with scheme legislation
  • pay superannuation benefits to or in respect of members
  • provide information about scheme benefits or potential benefits
  • provide advice to the Minister for Finance on proposed changes to the scheme legislation or trust deeds.