Many of us will spend more than a quarter of our life retired, as people are now living until an average age of 86 years (if you’re male) and 89 years (if you’re female). With the help of your CSC annual statement, you will be able to get your financial bearings on where you are at currently, and how you’re tracking towards retirement. Superannuation can help you enjoy your retirement by allowing you to maintain a good standard of living, which often isn’t achievable by receiving just the Age Pension. 

So as the 2020-21 Financial Year draws to a close, we’ve worked our way through feedback and have been working to improve the digital statement experience for our PSSap and ADF Super customers. Here are just some of the things you can expect this year, you will be able to:

Make a non-binding beneficiary nomination

It’s not a nice topic to think about, but nominating beneficiaries is an important decision only you can make. Should you not already have a binding or non-binding nomination in place, you will be able to make a non-binding beneficiary nomination when you log in to view your digital statement (or via your online services). A non-binding nomination is more of a guide for CSC to know where you’d prefer your money to go and doesn’t need to be renewed and won’t expire.

See how you’re tracking on our Retirement Scale

The primary objective of the superannuation system is to provide income in retirement to substitute or supplement the Age Pension (eligible from 67), which is why we will include a scale to show if you are on track to fund a Comfortable or Modest retirement (ASFA Retirement Standards), or perhaps likely to be more reliant on the Age Pension. 

Project your superannuation balance

Thinking about retirement when you’re in the midst of starting or building a career might seem like a misnomer but the annual statement is great time to check where you are and how you’re going to fund your retirement when the time comes. To help, we will be including projections to 67 years of age to see your CSC super substituting or supplementing the Age Pension for all customers who have not consolidated OR received a payment from their super in the 2020-21 Financial Year.

Print off a pdf version

Should you like to download a pdf version of the print statement, we’re going to make this option more visible.

Opt for Multi-Factor Authentication

Lastly, ease of access would have to be one of the most polarising features from our inaugural digital statement: some loved it, some not so much. To help ensure we can deliver your 2020-21 digital statement in a way that suits you, we will shortly launch a campaign where you may choose to opt in to receive an additional layer of authentication.

CSCri

For CSCri customers, we will be introducing a digital statement experience for those who have registered an email address. Watch this space.