Member outcomes assessment summary
Year ending 30 June 2022
This information is for the following products:
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A super fund designed for you
At CSC, we’ve spent decades growing the superannuation of Australian Government employees and members of the Australian Defence Force. We use that experience to pursue a better retirement for our customers.
The Superannuation Industry (Supervision) Act 1993 requires us to assess our Defined Contribution products against criteria set out in the Act.
We have determined that all assessed products promoted the financial interests of their beneficiaries during the Financial Year ended 30 June 2022.
You profit
We’re a profit for customers fund, meaning the earnings go back to you.
Global best practice
We were named the best ‘Pension Fund- Small/Medium’ across Asia-Pacific at the 2022 AsianInvestor Institutional Excellence Awards.
Understanding what matters
With a unique membership, we understand our customers and what they want.
Determination summary
Returns
CSC offers high performing super products designed to support its customers to achieve retirement adequacy. One, three, five and 10 year returns for the Balanced options in PSSap, ADF Super, CSCri - RIS and CSCri - TRIS are shown below:
| Investment returns for Balanced options at 30 June 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Investment option | One Year | Three Years | Five Years | 10 Years | ||||
| Return | Relative to median | Return | Relative to median | Return | Relative to median | Return | Relative to median | |
| PSSap MySuper Balanced | -3.58% | Above | 3.96% | Below | 5.70% | Below | Product less than 10 years' old | |
| PSSap Balanced Ancillary | -3.40% | Above | 4.13% | Below | 5.85% | Below | 7.57% | Below |
| ADF Super MySuper Balanced | -3.52% | Above | 3.87% | Below | 5.64% | Below | Product less than 10 years' old | |
| CSCri Balanced – RIS | -2.98% | Above | 3.74% | Above | 5.82% | Above | Product less than 10 years' old | |
| CSCri Balanced – TRIS | -3.44% | Above | 4.23% | Below | Product less than five years old | Product less than five years' old | ||
The returns across all investment options, have been published in the downloadable Member Outcomes Assessments found at the bottom of this page.
Investment risk
Our Balanced options are designed to achieve a comfortable standard of income in retirement for our customers, while managing downside risk. Over a 10-year period, we captured 90% or more of the upside returns of our peers, while avoiding over 30% of the downside losses.
Fees and costs
As a profit-for-customers super fund, we don’t make a profit to pay to shareholders, so we only charge fees to cover the costs of operating the fund. That means our fees are lower than the average retail superannuation fund. Protecting your investments from risk does however mean that our investment costs are higher than many other funds.
| Fees for balanced options financial year ending 30 June 2022 | ||
|---|---|---|
| Investment option | $50,000 account balance | |
| Total fees and costs (%) | Relative to median | |
| PSSap MySuper Balanced | 1.04% | Below (1.05%) |
| ADF Super MySuper Balanced | 1.05% | Below (1.05%) |
| CSCri Balanced - RIS | 1.33% | Above (0.91%) |
| CSCri Balanced - TRIS | 1.35% | Above (1.05%) |
Assessment factors
Options benefits and facilities
With our unique membership, we’re committed to getting to know our customers and what they want from their super. Our options allow you to tailor your super to your individual circumstances, without being overwhelming or incurring the additional administrative costs required to support too many choices.
Investment strategy
CSC’s investment strategy looks forward, so that you can have confidence in realising your retirement goals. Our aim is to capture most of the appreciation in asset prices, while mitigating the impact of asset price falls. Environmental, Social and Governance considerations are integrated into our investment decision making.
Insurance strategy and fees
CSC’s strategy is to provide appropriate default and tailored insurance cover options designed to be appropriate, affordable, sustainable and flexible. We provide Death and Total and Permanent Disability and Income Protection cover to eligible PSSap and ADF Super customers.
Our insurance premiums balance the benefits available in the event of a claim with the cost of providing cover, ensuring premiums are competitive with other products available in the market and don’t erode your retirement balance.
Scale
The capabilities that CSC offers our super customers are the unique combination of our scale and agility. Our portfolio construction is designed to recognise and move early into new investment opportunities before others crowd in. At around $60 billion funds under management, CSC is considered a mid-sized fund. This mid-range scale is considered a competitive advantage as it provides sufficient scale to access all global investment opportunities, without reducing flexibility.
Operating costs
As a government entity and profit-for-customers fund, CSC places a great deal of focus on keeping our operating costs down and keeps fees as low as possible for our customers.
Additional detail
Complete fund assessments can be downloaded below.
Legislative Outcomes Assessment for PSSap 2022
This report details the information considered by the Board to make its annual written determination as to whether the financial interests of the beneficiaries of the product are being promoted by CSC.
Legislative Outcomes Assessment for ADF Super 2022
This report details the information considered by the Board to make its annual written determination as to whether the financial interests of the beneficiaries of the product are being promoted by CSC.
Legislative Outcomes Assessment for CSCri 2022
This report details the information considered by the Board to make its annual written determination as to whether the financial interests of the beneficiaries of the product are being promoted by CSC.
For more information, please contact us.
Proud recipient of SuperRatings' Platinum rating for PSSap and CSCri, and Gold rating for ADF Super.
