Income stream CSCri

Commonwealth Superannuation Corporation retirement income, or CSCri, is a more flexible way to access your super when you retire, giving you more freedom to receive your money when and how you need it.

Looking to log into your CSCri account?

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  • ADF Super
  • CSS
  • DFRDB
  • MilitarySuper
  • PSS
  • PSSap
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This information is only applicable to CSS, PSS, and PSSap members, for more information on other schemes please see our Retirement Benefit Option page.

Commonwealth Superannuation Corporation retirement income (CSCri)

CSCri – or CSC retirement income – is designed to complement your existing CSS, PSS, or PSSap benefit by allowing you to keep some or all of your super invested, while also receiving regular retirement income payments. Retirement income payments are generally taxed less than regular income, so you can enjoy more of your money for longer.

 

Who can join?

CSCri is available to eligible CSS, PSS and PSSap customers who are retiring or want to start transitioning to retirement.

 

In less than 3 minutes, watch our video to understand the benefits of managing your retirement income with CSCri

Stories from CSCri members Gerard's story

Gerard, a PSS and CSCri member, was diagnosed with bowel cancer, and this drastically changed his retirement plans. He was going to retire early, but instead took advantage of CSCri’s transition to retirement income stream to supplement his sick leave. Gerard appreciated the flexibility, including the ability to vary his income and draw on lump sums.


Your two options

Depending on where you are in your retirement journey, there are two product options available:

Transition to retirement income stream

Receive a regular, income stream in the lead up to retirement, so you can reduce the hours you work and maintain or even boost your income. You can continue to have contributions paid into your current super account. This is known as a ‘transition to retirement strategy’.

Find out more

Standard retirement income stream

Flexibility for retirees who want to receive regular, tax-effective income payments and have access to your money to suit your changing needs.

Find out more

Why choose CSCri With CSCri you benefit from

Maximum flexibility

You choose how and when you want to retire

Access when you need

With CSCri your super isn't locked away. You can withdraw ad hoc amounts at any time

Tax Benefit

All your investments earnings are tax-free

Key features

Minimum investment

CSCri accounts must start with a minimum investment of $20,000.

This money can come from:

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

Flexible income and ad hoc options

You choose how often you are paid: fortnightly, monthly, quarterly, half yearly or annually, by direct credit to your bank, building society or credit union. There is a minimum annual amount you must be paid, this is based on ATO requirements. If you are standard retirement income stream customer, there is no maximum income that can be paid to you but if you are a transition to retirement income stream customer, you can only be paid a maximum income of up to 10% of your account balance per year.

Ad hoc withdrawals are available at any time for standard income stream customers. For transition to retirement income stream customers, ad hoc withdrawals are available only if you meet a ‘condition of release’.

Tax benefits

 

Age 60 and over

Under age 60

Transition to retirement income stream

  • Tax-free income payments
  • Concessional tax on income payments

Standard retirement income stream

  • Tax-free investment returns
  • Tax-free income payments
  • Tax-free ad hoc withdrawals
  • Tax-free investment returns
  • Concessional tax on income payments
  • Concessional tax on ad hoc withdrawals

Flexible investment choice

Choose one or a mix of up to four investment options: cash, income focused (default), balanced and aggressive.

Restart your CSCri account with additional amounts

You can restart your CSCri account at any stage by adding additional amounts. The minimum amount of additional money required to restart your CSCri account is $10,000 (in addition to your current CSCri balance). As there are minimum drawdown requirements for CSCri, you may need to have received the minimum annual payment into your bank account before you’re able to restart.

Investment information

Performance CSCri

CSCri’s different investment options have different levels of risk, and of course, return. Here’s how our different investment options are performing, so you can make better choices for your retirement.

Find out more

Unit prices CSCri

Find out more

Investment disclosure CSCri

This page provides information on asset exposure.

Find out more

 

Applying for CSCri

  1. Complete the application form

    Download and complete the application form and send it to us by post or by email, then we will assess your application for the next steps.

  2. Your funds will be consolidated

    If your application is accepted and you are commencing your CSCri with funds from multiple sources (e.g. personal contributions, rollovers from different funds, etc.) or a personal contribution only, we will consolidate your funds into your PSSap account (or set up a PSSap Ancillary account for you if you do not already have one). 

  3. Your CSCri account set up

    Once all your funds are consolidated into PSSap, or we receive your single source starting amount, and your application has been accepted, we will set up your CSCri account. 

  4. Welcome to CSCri

    You will receive an email or letter welcoming you to CSCri and letting you know your account details. 

CSCri contact details

Operating hours: 8.30am - 6.00pm, Monday to Friday (Australian Eastern Daylight Time).

Email

members@cscri.com.au

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Phone

Local: 1300 736 096

Overseas: +61 2 4209 5402

Fax

Local: 1300 304 241

Overseas: +61 2 4253 6122

Post

CSCri
Locked Bag 8840
Wollongong NSW 2500

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