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Annual Report

Annual Report 2016

Super schemes

CSC manages 11 super schemes for Australian Government employees and members of the ADF. The functions CSC performs in relation to its super schemes are set out in its governing legislation (outlined on page 10–11 of this report). This section details CSC’s performance in relation to these functions for each scheme in 2015–16 (excluding ADF Super and ADF Cover, which both began on 1 July 2016).

Scheme administration

Administering CSC’s super schemes involves:

  • calculating and paying benefits,
  • responding to member and employer enquiries, and
  • maintaining accounts for contributors, preservers and pensioners.

These functions are performed directly by CSC for the defined benefit public sector and military schemes. Scheme administration functions for PSSap, CSCri and ADFSuper are contracted to Pillar Administration.

To monitor and manage scheme administration performance, CSC has identified service levels for all its schemes, including in its contractual arrangements with Pillar Administration.

2015–16 performance against services levels for each super scheme is detailed below. Further detail is included in the Annual Performance Statement on pages 18–20.

Defined benefit schemes

Table 11: Defined benefit scheme service standard in 2015–16
  CSS* PSS* APS Total* DFRDB Military ADF total Total across DB schemes
* CSS and PSS schemes share a number of service standards and as such the scheme APS total results do not reconcile.
Number of service standards 64 65 101 64 71 135 236
Number of standards met 60 62 97 60 61 121 218
% achieved 94% 95% 96% 94% 86% 90% 92%

Defined contribution schemes

Table 12: Defined contribution scheme service standard in 2015–16
  PSSap CSCri Total across DC schemes
Number of service standards 102 75 177
Number of standards met 88 73 161
% achieved 86% 97% 91%

Review of decisions and complaints

Decisions of CSC and its delegates are subject to both internal review (the reconsideration process) and external review (review by other bodies).

CSC has formal procedures in place to resolve member complaints. These procedures comply with the Association of Superannuation Funds of Australia (ASFA) Best Practice Guide and reflect the guiding principles of Standards of Australia AS ISO 10002-2006 (Customer Satisfaction – guidelines for complaints handling in organisations).

The number of complaints received in 2015–16 is shown in the individual superannuation scheme sub-sections included below in this section of the report.

Information & advice

Part of CSC’s mission is to provide information and services that are relevant, reliable and helpful to members. Our services are designed to give our members the information, education and financial advice they need to make informed decisions about their superannuation, including:

  • general information over the phone and online,
  • secure management of their account online
  • education and general advice at a public or workplace seminar, online webinar or one-on-one information session, and
  • personal financial advice from a qualified financial planner from Industry Fund Services (IFS).

Personal financial advice

CSC partners with experienced financial planners from IFS to make a comprehensive personal financial advice service available to CSC scheme members.

IFS is responsible for the advice provided generally on a fee-for-service basis to CSC scheme members. All IFS advisers are licensed financial planners and authorised representatives of IFS. At 30 June 2016, there were nine IFS advisers based in Canberra, Sydney, Melbourne and Brisbane, dedicated to CSC scheme members (compared to seven advisers at 30 June 2015).

The services offered to CSC scheme members include face-to-face and phone-based personal financial advice.

During 2015–16, CSC scheme members reported on average a very good to high level of satisfaction with the personal financial advice and service provided to them.

Public & workplace seminars

CSC scheme members can attend public and workplace seminars, as well as online webinars on their super scheme. Members can also attend sessions on specific topics such as their annual statement, the online calculator for defined benefit schemes known as i-Estimator, and redundancy. Seminars and webinars are presented by CSC’s team of Member Education Consultants.

Chart 1: Workshops and seminars on public sector schemes

bar chart relating to workshops and seminars on PSS

In 2015–16, almost 14,000 members attended a public sector scheme seminar or webinar. Members reported a high level of satisfaction with the quality of the service provided to them and a high level of satisfaction with the improvement in their knowledge about superannuation as a result of them attending their seminar or webinar. More than nine in 10 members who evaluated a CSC seminar or webinar reported that they would recommend the seminar or webinar to another member.

Chart 2: Seminars on military schemes

bar chart relating to seminars on Military schemes

In 2015–16, over 5,000 members attended military scheme seminars run by CSC (which was slightly more than the number of members who attended seminars in 2014–15). Members of the military schemes can also attend free one-on-one information sessions at locations around Australia. General information is provided on a range of topics, from scheme benefits to contribution and investment options.

Chart 3: One-on-one information sessions for military scheme members

bar chart relating to one on one information sessions on Military schemes

In 2015–16, 96% of members who evaluated their one-on-one information reported that they would recommend CSC’s one-on-one information service to another member.

Scheme legislation & trust deeds

Changes are made to scheme legislation and trust deeds from time-to-time. Changes made during 2015–16 are detailed in the individual scheme sub-sections of this chapter.