Answers to your questions
The CSC Advice Partnerships team is here to make it easier for you to provide outstanding service to your CSC client. In addition to our website and resources, we’ve compiled answers to the most common questions asked in recent weeks.
26 Nov 2025
CSC Pensions
What is the account balance?
A Defined Benefit pension does not have an account balance. The pension is paid on a fortnightly basis, indexed with CPI twice a year, and payable for the member’s lifetime, subject to scheme rules.
Is the pension means tested?
A CSC Defined Benefit pension itself is not means-tested, other government benefits or pensions a member may be eligible for could be affected by their superannuation income.
MSBS (MilitarySuper)
How is the MSBS pension calculated? What formula is used?
The formula for calculating a MSBS pension is Employer Benefit Balance divided by Pension Conversion Factor based on age at claim. See the MSBS ‘How it works’ page for more details.
Employer Benefit (EB) ÷ Pension Conversion Factor (PCF) = Pension
The Pension Conversion Factors are below:
|
Age at claim (entire years) |
Pension conversion factor |
|
65 |
10.0 |
|
64 |
10.2 |
|
63 |
10.4 |
|
62 |
10.6 |
|
61 |
10.8 |
|
60 |
11.0 |
|
59 |
11.2 |
|
58 |
11.4 |
|
57 |
11.6 |
|
56 |
11.8 |
|
55 |
12.0 |
Example
- Employer Benefit = $500,000
- Age = 55
- Pension Conversion Factor = 12
Calculation
- $500,000 ÷ 12 = $41,666.67 gross annual pension
- $41,666.67 ÷ 26 = $1,602.56 gross pension per fortnight
This example is illustrative only.
Can a member make personal contributions to MSBS and claim a tax deduction?
No, the notice of intent to claim application form is not accepted by MSBS.
PSS
How is the PSS pension calculated? What formula is used?
The pension is calculated based on the member's final average salary (FAS) and accrued benefit multiple (ABM), which gives their final benefit amount. The ABM is influenced by the member's contribution rate and length of service.
The formula is: FAS x ABM.
For more details see our PSS ‘How it works’ page.
|
Rate |
Annual ABM accrual |
Annual ABM accrual (ten-year rule satisfied) |
|
0% |
0.11 |
0.11 |
|
2% |
0.15 |
0.15 |
|
3% |
0.17 |
0.17 |
|
4% |
0.19 |
0.19 |
|
5% |
0.21 |
0.21 |
|
6% |
0.22 |
0.23 |
|
7% |
0.23 |
0.25 |
|
8% |
0.24 |
0.27 |
|
9% |
0.25 |
0.29 |
|
10% |
0.26 |
0.31 |
PSS pensions are calculated by applying the relevant pension conversion factor (PCF) to their final benefit amount. PCFs are expressed as a percentage. We multiply the final benefit amount being converted to pension by the PCF.
The table below sets out the PCF at each full birthday.
| Age | Pension conversion factor |
|---|---|
| 55 | 12 |
| 56 | 11.8 |
| 57 | 11.6 |
| 58 | 11.4 |
| 59 | 11.2 |
| 60 | 11 |
| 61 | 10.8 |
| 62 | 10.6 |
| 63 | 10.4 |
| 64 | 10.2 |
| 65 | 10 |
| 66 | 9.8 |
| 67 | 9.6 |
| 68 | 9.4 |
| 69 | 9.2 |
| 70 | 9 |
Example
Mick’s total final benefit*
- Mick’s last three birthday super salaries were $120,000, $125,000 and $130,000. His FAS is the average of these = $125,000.
- Mick has contributed consistently at a rate of 5%, which has an ABM annual accrual factor of 0.21.
- Multiplying this by his 30 years of contributing service gives him an ABM of 6.3 (0.21 x 30).
- His total final benefit is: FAS of $125,000 x ABM of 6.3 = $787,500.
Mick plans to take his benefit when he turns 65, for which the PCF is 10.
If he chooses the full pension with no lump sum, he’ll receive 10% of $787,500. This gives him an annual CPI-indexed pension of $78,750.
$787,500 ÷ 10 = $78,750 gross
$78,750 ÷ 26 = $3,028 gross pension per fortnight
*This example is illustrative only.
You can see another example of how a PSS pension is calculated in this case study.
Can a member roll out their funds from PSS?
Members can roll over their benefits to another superannuation fund under certain conditions. Generally, only contributors can pay in a transfer/rollover.
Post-95 transfer amounts are funds received after 31 December 1995. They form an additional accumulation benefit and cannot be converted to pension. They can be paid as a rollover to another fund at any time, whether a contributing or preserved member, but only once per year. Otherwise, they must be paid as a lump sum when the final benefit is paid, either as cash and/or rollover depending on cashing restrictions. Contributing members can roll them in at any time (but can only roll out once per 12 months).
Post-95 transfer amounts may include tax-free amounts as well as non-preserved amounts.