Frequently asked questions

Here are the answers to some of our most commonly asked questions, including EOFY information, help logging into online services and many other questions we're regularly asked.

About CSC

What is your USI?

The Unique Superannuation Identifier (USI) for each of our schemes is listed below:

  • PSSap 65127917725001
  • ADF Super 90302247344001
  • MSBS 50925523120001
  • PSS 74172177893001
  • CSS 19415776361001
  • DFRDB 39798362763001
  • CSCri 65127917725002

The ATO superfundlookup.gov.au website can also help you find details about other super funds you may have. 

Where can I find your ABN?

Easy! Just scroll down. CSC's ABN and all of our scheme ABNs are listed at the bottom of our webpages. 

Where can I find information about CSC’s ethical investments? 

You can find information about CSC’s ethical investments in our product disclosure statements. You can also read more in our Stewardship Factsheet.

We believe that the most successful companies are those that consider the long-term sustainability of their business, not just the short-term drivers of current profitability.

We don’t automatically avoid companies associated with a negative theme (such as a high carbon footprint). Instead, we identify those companies at risk, work to understand the implications for their share price, and, where appropriate and practicable, support those companies to undertake activities that will reduce any undesirable outcome.

For example, we engage with companies identified as having large carbon footprints, and support them through a responsible transition of resources and processes towards reducing any undesirable climate consequences from the operation of their business.

Defined Benefits

What are the risks of a financial crisis impacting a defined benefit pension?

The Australian Government guarantees 100% of all CSC defined benefit pension payments for life (e.g. pensions from CSS, PSS and MSBS). The Future Fund was established specifically for this purpose.

Are PSS members able to move or contribute to their own super fund?

PSS scheme rules do not allow contributions otherwise than from eligible employers and members in eligible employment. Please get in touch if you wish to discuss options in relation to claiming the PSS benefit.

Find out about opening a PSSap account to complement your defined benefit.

The CSS has been closed to new contributors for many years now. How many contributing members remain?

As of 30 June 2020 there were 2,986 active contributors to the CSS scheme.

Why was the DFRDB scheme closed and replaced by an alternative compulsory scheme?

The DFRDB was closed to new members on 30 September 1991. From 1 October 1991 until 30 June 2016, former members who had deferred benefit rights or who were in receipt of DFRDB pensions were able to resume membership of the DFRDB under certain circumstances.

The Government introduced Military Superannuation and Benefits Scheme (MSBS) following a review of superannuation arrangements in place at that time, which considered whether the design of the Defence Force Retirement and Death Benefit Superannuation Scheme (DFRDB) suited Australian Defence Force (ADF) members and reflected contemporary superannuation policy. The result was to close DFRDB for new entrants and introduce MSBS.

From 1 July 2016, former serving DFRDB members who were in receipt of DFRDB pensions were not able to join the DFRDB or MSBS if they returned to the Permanent Forces or became continuous full–time Reservists. Instead, they became eligible to join ADF Super and became eligible for ADF Cover.

What is CSC's intention to resolve the grievances of DFRDB recipients regarding commutation and indexation?  

In 2019, the Commonwealth Ombudsman published an extensive report on DFRDB Commutation, addressing the issues that have been raised by veterans. The Ombudsman’s report concluded that that neither CSC, nor its predecessors, provided incorrect information about commutation and that CSC is administering commutation in accordance with the law. The report made separate findings in relation to the administration of commutation by the Department of Defence, following which the Department of Defence issued a statement indicating that affected members could apply to the Department of Defence for compensation.

DFRDB customers are directed to the findings of the Ombudsman’s report and to the Department of Defence. The outcome of the Ombudsman’s investigation can be found on the Commonwealth Ombudsman's website.

How does the superannuation contribution increase impact on PSS or other scheme rates?

As the superannuation schemes administered by CSC are all legislated schemes, the increase of the superannuation guarantee rate will have no impact on our funds. CSC administers both defined benefit funds and accumulation funds, meaning there are varying rates of contributions depending on the scheme you are in. However, all of the schemes administered by CSC currently have higher contribution rates than what the super guarantee is increasing to, so there is no disadvantage with our schemes not changing.

What does 'preserved member' mean? 

A member who previously made contributions to a fund administered by CSC, such as CSS or PSS, but is now a non-contributing member who still has amounts held within that fund.

Will CSS and PSS be combined?

If you are a CSS member you will remain a CSS member for life. There are currently no plans for CSS and PSS to be combined.

What is 54/11? (CSS)

This answer is just for our customers in the CSS scheme

This commonly used term refers to the option of resigning prior to turning 55 (at least two days prior to your 55th birthday), preserving your benefit and claiming a deferred benefit after you reach age 55. If you choose this option, your deferred benefit will include an indexed pension (paid as your employer component). This pension is calculated based on 2.5 times your accumulated basic contributions, multiplied by a pension factor based on your age at claim. You will also be able to take your member and productivity components as a lump sum or additional non–indexed pension.

If you instead choose to continue working and retire at or after age 55, your indexed pension is calculated using a percentage of your final salary. This percentage is based on your age and years of contributory service. As the two calculation methods are very different, it is highly recommended you obtain benefit estimates for both scenarios well in advance of your 55th birthday.

Find out more about the 54/11 option

Statements

How will I receive my Annual Statement?

If you’ve opted in to digital communication, you’ll receive links to your Annual Statement and Digital Annual Statement Summary either by email or SMS.

To check where yours will be sent, log into Navigator to choose digital communication and update your details. If you prefer to receive your Annual Statement through the post, we’ll mail it to your nominated postal address.

You can check your Annual Statement at any point after it’s been sent out by logging in to your account.

What’s included in my Annual Statement?

Your Annual Statement will include all the information specific to your CSC super account. This could include any contributions you’ve made, your investment performance, any insurance policies or cover attached to your superannuation, as well as what was deducted over the yearincluding withdrawals, tax and fees. Where possible, you will receive a projection of your balance and potential retirement income based on information available to us as at the date of the statement.

 

 

What should I do if I don't understand something on my Annual Statement?

If you're not sure, get in contact with us and we'll take you through it.

What should I do if I think my Annual Statement may be incorrect?

If you think there’s incorrect information on your Annual Statement, you should get in contact with us.

What should I do if I haven't received my Annual Statement?

If you haven't received your Annual Statement, you can log into your online account to access it. If you can’t access your online account, or you can’t find your Annual Statement online, contact us.

Please note: We send paper Annual Statements in batches from the second week of September through to November. If you haven’t received your paper Annual Statement, it may be because we haven’t sent it to you yet.

How do I change my contact details?

You can log into your online account to change your details.

Where can I find more information?

Changes at work?

Find out how changes at work impact on your defined benefit. Changes at work

General questions

Is having money in super really different from keeping money in the bank? 

There are benefits and risks to having money in your super account, rather than in the bank.

One of the benefits of super is that tax rates on super are often lower than regular tax on income and normal investment earnings, and you pay no tax on investment earnings if you are taking your super benefit as a pension. 

Another benefit of money in your super account is the power of compounding returns. Thanks to the power of compounding, super can be wealth building! As each year goes by, any earnings that your super makes are reinvested—essentially giving you the potential to earn investment returns on investment returns.

However, like any other investment, super is subject to the risk of investment loss. There are also restrictions on when and how you can access funds held in super, where there generally aren’t those restrictions placed on the funds you hold in your bank account.

Find out more on How super works.

Before you make any big financial decisions, we recommend you seek professional advice from a licensed financial planner*.

How can I consolidate/combine/transfer my super to my CSC account?

There are different rules around consolidation for each of our schemes. Find out more about finding and combining your super.

Whether or not it is beneficial for you to consolidate your super depends on your personal objectives, financial situation and needs. Before making a decision you should consider the impact of consolidation on any existing insurance you hold through your existing funds, and you may want to seek professional advice from a licensed financial planner.

How can I update my contact details? 

You can update your contact details at any time using online services. Simply log in and update your details.

Alternatively, you can complete our Change of Personal Details form and send it to formsandapplicatons@csc.gov.au

If you’re currently a serving member of the ADF, your personal information, including your address, is regularly reported to us by the Department of Defence.  

Where can I find the i-estimator tool?

PSS & MilitarySuper members can use the i-Estimator to work out what your pension might look like and when you might be able to leave work, depending on your unique circumstances.

CSS & DFRDB members can contact us for a benefit estimate.

Benefit estimates

How can I make an appointment to see a financial planner?

About our financial planning Meet our planners

Call us at 1300 277 777, or email us at financial.advice@csc.gov.au. We’ll ask you a few questions to pinpoint exactly what kind of advice you need, and schedule a face-to-face or telephone appointment with one of our authorised financial planners.

How do I let you know I’ve changed my name? 

If your current employer is contributing super to your CSC account, they should be able to update your name on their payroll system and send the update through to us. Check with your HR department to see if this is possible.


If your HR department can’t update us with your change of name, or if your employer doesn’t contribute to your CSC Fund, you will need to let us know directly by sending in a change of details form.

For us to be able to change your name on our records, we need certified copies of your:

  • marriage certificate with your new name; OR
  • birth certificate if you have changed back to your maiden name; OR
  • change of name certificate if you have changed your name by deed poll.

Your identity documents must prove your original name (as held on our system), as well as how you transitioned from that name to your new name. All documents must be certified as true and correct copies by an appropriate person, such as a lawyer or Justice of the Peace. 

How can I vary the tax I pay on my pension?

If you want to start or stop claiming the tax free threshold on your CSC pension you need to complete an ATO Tax file number declaration form and indicate your preference at Q8. Once signed, this form can be emailed to pensions@csc.gov.au, or posted to GPO Box 2252, Canberra City, 2601.

If you want CSC to withhold additional tax, you can email  pensions@csc.gov.au and advise us of the additional amount to be deducted each fortnight, either as a percentage or as a dollar amount. Please make sure you include your name, pension reference number and date of birth in this email. 
 

How does super work?

Take a look at what superannuation is and how it works:

How super works

When will you submit tax information to the ATO?

CSC will submit your data to the ATO before 14 August 2023.

Environmental, social, and governance (ESG)

Why have your disclosure documents changed?

We have consolidated and streamlined our disclosures in response to customer requests for simpler communications about our approach. We have set out our approach to stewardship and highlighted the commonly asked questions on this FAQ page.

Has your approach to ESG changed?

No. Our approach has not changed. We review our policy every 3 years. The CSC board last reviewed policies relevant for our ESG approach in September 2022.

Why do you invest in oil and gas companies?

Our holdings in oil and gas companies typically reflect their index weights in the Australian equities benchmark, against which we are evaluated under the Your Future Your Super legislation (YFYS)1. We consider investing part of the portfolio in that benchmark index to be a cost-effective way to achieve positive member outcomes for the purposes of the performance test.

1Investment indices | APRA: These are the indices that CSC’s accumulation options operate under YFYS.

Under what circumstances do you exclude companies from the portfolio?

We do not invest in companies which we know to be involved in activities contrary to Australian government rules and regulations, for example cluster munitions and landmines. We also exclude investments where we consider it to be a cost-effective way to protect CSC portfolios from risks we believe are not justified by the returns. For example:

  • We divested of tobacco producers as we considered this to be a cost-effective way to protect the portfolio in the long term against loss of value from increasing regulation.
  • We divested companies that derive 70% or more of their revenue from thermal coal production because we viewed their long-term investment returns to be under pressure from cleaner-energy competition.

We implement these decisions using MSCI’s Business Involvement Screening Research methodology. This can mean some exposures to these risks are not identified, but in the context of our portfolio-level risk-management objectives, we consider these to be immaterial1.

We do not divest (or threaten divestment) as a way to provoke companies to change.

1Source: MSCI <0.005%

Why don’t you use divestment to cause companies to change?

Divestment itself neither withdraws capital from a company’s balance sheet, nor reduces the profitability of a company’s products or services; it merely transfers ownership rights to another investor.

Divestment also entails relinquishing effective channels for investor influence (e.g, ownership rights such as participating in director elections)and accepting the risk that the buyer would use the ownership rights we relinquished to pursue outcomes contrary to our customers’ financial interests.

Some divestment advocates have more recently argued that the purpose of divestment is to generate damaging publicity for the divested company. We believe our continued ownership offers greater potential to elicit desired changes than one-off action to generate publicity.

Does CSC support the Paris Agreement? Does it have a Net Zero target?

CSC recognises the risks for long term investments predicted under more severe climate change scenarios and the goal of the Paris Agreement to limit carbon concentrations in the atmosphere. CSC’s approach to managing climate-related portfolio risks distinguishes between two types of possible actions:

  • Hedging customers’ portfolios against climate risks and
  • Limiting atmospheric concentrations of greenhouse gases.

Hedging customer portfolios against risks means that CSC portfolios often exhibit low (and / or falling) carbon emissions and may resemble investment products described as “Net Zero,” However, we caution that lower portfolio carbon emissions does not necessarily result in reduced carbon emissions in the physical world.

How do you manage climate risk?

Our climate risk policy recognises climate-related risk as a systematic risk across the portfolio. We use scenario analysis and stress tests to estimate what impact climate risks could have on your retirement outcome (to the best of our ability, given the available data).

Our stress testing methodology follows evolving recommendations of peak bodies globally, including the International Panel on Climate Change Assessment Report 6 (IPCC AR6)1, and aims to integrate our assessment of:

  1. Direct risks to physical assets;
  2. Risks from regulatory responses to climate change;
  3. Risks from climate-related litigation; and
  4. Risks to the competitive position of assets risks under different rates of decarbonisation, across jurisdictions and through time.

Our proactive and rigorous approach to investigating climate-related risk can lead us to be ahead of consensus positions. For example, we were the first Australian super fund to open our portfolio to carbon footprint analysis by the Climate Institute in 2009. This enabled us to develop an early understanding of the inaccuracies and complexities that mean carbon footprints are a poor indicator of either climate risk to an investment portfolio or its contribution to climate outcomes.

1Sixth Assessment Report — IPCC

How do you think about stranded fossil fuel assets?

Disruptive forces such as new technology, geopolitical trade, and social change have historically spurred innovation and industry development. We routinely monitor these to identify investment risks and opportunities that result, and apply our investment and risk-management disciplines (including hedging) to manage these.

Climate-related regulation of fossil fuels is an example of this. Our decision to exclude from the portfolio those companies that derive 70% or more of their revenue from thermal coal production was a result of this process, as was our decision to embrace early opportunities in wind farm development.

We recognise potential stranding risks for more carbon-intensive oil, gas and metallurgical coal assets, but do not believe the category as a whole is at risk of stranding, at this time. We monitor macro-economic indicators that could help identify that this risk is increasing – for example, a diminishing gap between the amount of alternative energy supply (including generation, storage and distribution capacity) and global energy demand (from consumption patterns and global development priorities).

How are you supporting climate action (e.g. decarbonisation)?

Climate change is a system-wide risk, and our approach is accordingly rigorous. We integrate climate change considerations into our investment risk management and stewardship, and focus our efforts where they are cost effective, consistent with the customer return objectives of our core activities (investing for customer retirement incomes) and have the greatest impact potential.

We have concluded that CSC influence is most usefully directed towards supporting reduced demand for hydrocarbons. For example,

  • We were one of the earliest Australian superannuation funds to invest in wind farms in September 2015, earning strong returns. Since then, we have recycled that profit into European and Australian renewable developers, growing renewable energy capacity – which now competes with fossil fuel generation.
  • We selectively engage companies, directors and others regarding their companies’ contributions to demand, and support others to do the same.
  • We build investor capacity to support policymakers’ efforts to reduce demand (e.g. with carbon pricing) including initiatives such as the Governance Advisory Service (later Regnan), the Principles for Responsible Investing (PRI), and the Investor Group on Climate Change (IGCC).

What ‘ESG’ themes do you support?

Through our ESG integration and stewardship activities, we focus on the governance of the companies in which we invest, because we believe that boards, comprised of directors with relevant expertise, commitment and integrity, are best placed to steer company strategy and identify, manage and communicate about a company’s assets, risks, and prospects (including ESG-related externalities relevant for the company).

Why don’t you offer a stand-alone ESG option?

We do not see a standalone ESG option as offering additional benefits for customer retirement outcomes. If an ESG risk is relevant to investment outcomes, we believe it is necessary to manage this across all of our portfolios. Likewise, if attractive financial characteristics of an investment are accompanied by environmental or social benefits, we see this as advantageous for all of our portfolios.

What is active ownership?

Active ownership refers to the intentional use of the rights that accompany equity ownership.

Many investors’ involvement with companies is more transient, for example via strategies to buy a company whose share price is temporarily depressed and sell it at a higher price as soon as it recovers. Active ownership is most common among investors who expect to be invested for longer periods of time.

CSC’s active ownership activities include:

  • Systematically voting at company meetings in accordance with our written voting principles;
  • Systematically communicating CSC’s active owner, climate investment risk and proxy voting policies to its external investment managers;
  • Selectively engaging companies directly (where we judge it to be in our customers’ best financial interests and a cost-effective way to address a risk); and
  • Identifying other cost-effective opportunities to use our influence as an investor, as these arise.

Since our active ownership is aimed at achieving more dependable retirement outcomes, we engage in active ownership only where we consider such activity is both cost-effective and in our customers’ best financial interests.

What is a universal owner? How is it relevant to ESG?

Universal owners are institutions with large, long-term and extensively diversified portfolios such as CSC’s, who are exposed to many sources of risk to their investments

Risks affecting investments are managed as part of our investment risk processes, however, when our investments are considered in aggregate, the single largest risk concerns the performance of the economy as a whole. The performance of the economy can be at risk from financial issues (such as credit standards underlying the Global Financial Crisis in 2007) but also social issues (such as economic pressures that limit a population’s appetite for entrepreneurial activity) and environmental issues (such as water stress diminishing agricultural production, increasing food prices, and fuelling social unrest).

Universal owners recognise that on occasion, companies optimising for their own returns can undermine returns from the portfolio as a whole, and use active ownership to address this.

For example, regulation can reduce profits when it forces companies to bear costs associated with their carbon emissions. We have nonetheless advocated for effective carbon regulation, via several investor collaborations, including the Governance Advisory Service (later Regnan) which we established in 2001, for which we won the United Nations Royal Award for excellence in sustainability, in 2003.

How does CSC use proxy voting?

CSC exercises all of its voting rights by casting a vote on every resolution put to the shareholders of every public company in our portfolio.

CSC’s voting policy provides guidance on the principles by which we cast votes. We generally support management recommendations unless these are inconsistent with our stewardship priorities.

We disclose our proxy voting results in summary form on a half yearly basis. We do not disclose the individual votes we cast at each company AGM, as such information can be misinterpreted. For example, a vote against a company’s published climate plan may signal disagreement with its premises, opposition to its climate-focussed efforts, or dissatisfaction that the actions proposed are insufficient.

In our experience, public/media commentary often neglects such context even when it is available. Such external reporting can mislead our customers and divert our staff from their primary role - looking after your retirement savings.

What are CSC’s stewardship priorities?

Our stewardship priorities guide our use of our ownership rights and related avenues. They are designed to focus our efforts.

They emphasise:

  • Secure shareholder rights, such as the right to determine a company’s board of directors and make decisions on major capital transactions;
  • The establishment of boards / election of directors with strong strategic competencies, governance competencies, and who are conscientious with respect to company impacts and externalities; and
  • Accountability to shareholders, via transparency about all of the above.

Investors delegate the oversight of companies to boards of directors, rather than being involved in management decisions directly. These priorities reflect the important role of company directors, focusing our efforts where they can be most cost effective.

How do you manage modern slavery risks?

CSC collaborates with our suppliers to reduce the risks of modern slavery in our investment portfolio. See our annual Modern Slavery statement for details.

Do you invest in social housing?

To date, we have not identified social housing opportunities that provide a compelling relative return. However we continue to monitor and review opportunities, in light of changes to policy on market structure, taxes, incentives, etc.

Online services, communication, and education

Are you doing anything to improve the CSC website? 

We are undertaking a significant investment over the next three years to transform our digital services to customers to better meet their expectations. A key area of focus will be our online services to ensure all customers have a simple, easy ‘one-stop-shop’ for all their CSC accounts and services. We are also undertaking an extensive and ongoing process of updating our website content to make sure it is easier to understand.

Is it possible for customers to receive monthly updates instead of just once a year? 

We send regular investment and general information emails to all of our customers who wish to receive these emails.

You can also view your account through online services any time.

 

What are your support services for customers who live overseas?

CSC does not have any physical offices overseas, however all customers can access their account online at any time via CSC Navigator.

If you need assistance logging in to your account visit our ‘Contact us’ page to find the right email or phone number to call.

Our PSSap, ADF Super and CSCri contact centre is open between 8:30am and 6pm (AEST) and our CSS, PSS, MilitarySuper and DFRDB contact centre is open between 8am and 6pm (AEST).

When will you start workplace information seminars again?

We're hoping to get back into visiting more of our employer sites to deliver information sessions. Reach out to your HR/People team to express your interest. If you’re an employer interested in arranging an in-house seminar for staff, please contact us on 1300 338 240.

Where can I find glossary of superannuation terms?

Our easy-to-use glossary of superannuation terms can help simplify your learning process and make informed retirement decisions.

Forms and factsheets

How do I return a completed form?

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