CSS transition to retirement

As some of your employees who are CSS customers move closer to retirement, they may wish to consider transition to retirement strategies. Several options may be available to these customers.

19 Jul 2019

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  • ADF Super
  • CSCri
  • CSS
  • DFRDB
  • MilitarySuper
  • PSS
  • PSSap
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The options that may be available to CSS customers are: 

Cease contributory membership of CSS while remaining employed by the same employer
There are limited circumstances where a CSS contributing customer may be able to cease contributory membership of CSS, while remaining employed by the same employer. These are:

  • Changing employment conditions so the customer is no longer eligible to contribute to CSS – that is, by becoming re-employed as a temporary part-time or casual employee, or
  •  Joining an employer-sponsored super scheme other than CSS, PSS, or PSSap, and continuing to receive employer contributions into that scheme that are greater than the legislated Superannuation Guarantee amount. 

The second option is unavailable to most contributing CSS customers, as their employer will not have an alternative default superannuation fund that is not CSS, PSS, or PSSap. Those that do have an alternative superannuation fund should contact us and check their Enterprise Agreement or similar to confirm eligibility.

Commence a transition to retirement income stream through CSCri

CSC offers CSS customers the opportunity to commence a TTR income stream through CSCri using amounts from their CSS account and/or money from other superannuation accounts. To be eligible, CSS customers must have reached preservation age and have a minimum of $20,000 in superannuation

You can find more information about both of the above transition strategies in our Transition to Retirement factsheet.