How to make the most of a lump sum super payment?

Are you considering taking some of your super as a lump sum, but don’t want it locked away?

09 May 2018

Are you considering taking some of your super as a lump sum, but don’t want it locked away? Read on to find out how your government super fund can help.

Are you a CSS, PSS or PSSap member who wants to invest a lump sum at retirement & doesn’t want it locked away?

Do you want to:
  1. Be able to access your money when you need it;
  2. Keep your money invested in a tax free environment; and
  3. Get a regular income stream

That’s why Commonwealth Superannuation Corporation offers an account based income stream called CSCri.

Keep your super in the Government super environment with a Fund you can trust.

Benefits of CSCri

Turn your super savings into tax-effective income in retirement
  • Your income payments are tax-free from age 6
  • Your payments before age 60 are taxed concessionally
  • Your investment returns are tax-free


Enjoy flexibility and control over your money in retirement

  • Need to access an ad hoc amount? You can make withdrawals at any time
  • Prefer to make an investment choice for your account balance? Choose from one or a mix of up to four investment options and change your selection at any time
  • Want to change how much and how often you are paid your income? Change your preferred annual payment amount (within limits) and choose to receive your income payments either monthly, quarterly, half yearly or annually
  • Choose either a reversionary, binding or non-binding beneficiary who will receive your remaining CSCri account balance in the event of your death. Select, change or revoke your beneficiary nomination (including a reversionary nomination) at any time

Manage your account online using CSCri Member Services Online

Are you eligible?

If you’d like to take up a standard retirement income stream in CSCri, you must either:
  • be permanently retired from the workforce, having reached your preservation age; 
  • be in new employment on or after age 60; or
  • be age 65 or older


CSS and PSS members (contributing and preserved) are eligible to begin a CSCri account using money from the following sources:

  • your PSSap Ancillary account; and/or
  • another superannuation fund; and/or
  • an eligible superannuation contribution (such as an after-tax/non-concessional contribution) and/or
  • a lump sum amount from either CSS or PSS when you permanently retire.

How to get started?

To learn more about joining CSCri and to download the CSCri Product Disclosure Statement (PDS) visit

Alternatively if you have questions or want us to step you through the process of opening an account call us on 1300 736 096

When considering your options, please be aware that this advice is general advice and may not be appropriate for your individual circumstances.

To determine if CSCri is right for your circumstances, you may want to seek professional advice from an experienced financial planner.

Commonwealth Superannuation Corporation has partnered with experienced financial planners from Industry Fund Services (IFS) to bring a personal and trusted financial advice service to you. IFS planners are trained to be experts in your scheme and are the only provider with whom CSC has partnered.  If you would like to know more about this personal advice service, please visit

Share this article

Next, I'd like to know more about...

Can you spot a risky (and illegal) super scheme?

Pre-retirees get targeted every year

Learn more

Five Steps to Getting your Super Sorted

Here are some practical suggestions from the Association of Superannuation Funds of Australia.

Learn more

A financial plan is the first step

Many people don’t get a retirement plan and assume that their super will cover their retirement.

Learn more

Thanks for visiting our website.

Would you like to provide some feedback for us?