Your money, your way
Join CSCri to enjoy flexibility and control of your money when you retire or transition into retirement.
You can use a CSCri account to keep some or all of your super invested while you’re planning your retirement or when you stop paid work. Your age and work status generally determine whether you’re eligible to apply for a Transition to retirement income stream or a Standard retirement income stream.
Why choose CSCri With CSCri you benefit from
Who can join?
CSCri is available to eligible CSS, PSS and PSSap customers who are retiring or want to start transitioning to retirement.
Your two options
Depending on where you are in your retirement journey, there are two product options available:
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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’.
Eligibility
If you have reached your preservation age but are under 65 years of age and are still working.
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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.
Eligibility
If you:
- Permanently retired from the workforce and reached your preservation age
- Changed employment on or after age 60
- Reached 65 years of age.
- Are permanently incapacitated.
Transfer Balance Cap
The Transfer Balance Cap (TBC) is a limit applied across all superannuation income streams (i.e. CSCri standard income stream, defined benefit pensions). Any retirement income streams you receive will be valued and recorded against the cap, which is managed by the ATO.
The TBC is set at $1.6 million for the 2020-21 financial year. If you exceed this limit, you will be forced to commute (withdraw) the excess from your CSCri standard income stream, potentially with a tax penalty.
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
Income payment frequency
Choose how often your paid- fortnightly, monthly, quarterly, half yearly or annually.
Minimum annual payment
There is a minimum annual amount you must be paid, this is based on ATO requirements.
Maximum annual payment
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
Available 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
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Age 60 and over |
Under age 60 |
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Transition to retirement income stream |
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Standard retirement income stream |
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Flexible investment choice
Restart your CSCri account with additional amounts
How to apply
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Complete the application form and send it to us in the mail or by email
We'll assess your application for the next steps.
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Fund consolidation.
If your application is accepted and you are commencing your CSCri with multiple sources 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).
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We'll set up your CSCri account.
Once all your funds are consolidated into PSSap, or we receive your single source starting amount, and your application has been accepted, we'll set up your account.
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Welcome to CSCri.
You will receive an email or letter welcoming you to CSCri and letting you know your account details.
Download the Product Disclosure Statement
CSCri Product Disclosure Statement
Issued 25 March 2022, this document provides important information about the features, benefits, risk and cost of investing your super in CSCri.