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Retirement income stream (CSCri)

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

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

Investment earnings are tax-free (Standard retirement income streams only)

Happy senior woman enjoying walk in nature and embracing pet dog in forest park

Your two options

Where you are in your retirement journey will determine your suitability for a Standard retirement income stream or a Transition to retirement income stream. CSCri is available to eligible CSS, PSS and PSSap customers who are retiring or want to start transitioning to retirement. Know the benefits and eligibility requirements before you apply for a CSCri account.

Apply for a CSCri Standard retirement income stream if:

  • You have reached your preservation age, retired from work and don't intend to return to work; or
  • You have changed employment on or after age 60; or
  • You have reached 65 years of age; or
  • You are permanently incapacitated.

A CSCri Standard retirement income stream will provide you with a regular source of income and has the flexibility of being able to draw down additional lump sums if you need it.

Apply for a CSCri Transition to retirement income stream if:

  • You have reached your preservation age but you are under 65 years of age and you are still working.

A CSCri Transition to retirement income stream will allow you to top-up your work income so you can work a little bit less, or supplement your income while you make personal contributions to boost your super in a tax-effective way.

To apply for CSCri you will need to know:

Minimum investment

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

This money can come from:

  • your existing PSSap 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

You'll need to decide how often you are paid: fortnightly, monthly, quarterly, half yearly or annually. To decide you'll want to take account of:

Minimum annual payment

There is a minimum annual amount you must be paid; this is based on ATO requirements. You can find more information atato.gov.au.

Maximum annual payment

If you are a 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

 

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, balanced (default) and aggressive.

Visit Investment Options to find out more about your investment choice.

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.

Meet our Financial Planners

Making financial decisions about your retirement can be complicated. For general questions call 1300 736 096. If you require tailored advice for your retirement planning, book an appointment with one of our authorised Financial Planners. To get started, call 1300 277 777.

Learn more about Meet our Financial Planners

Before you apply you should read

Product Disclosure Statement

This document provides important information about the features, benefits, risk and cost of investing your super in CSCri.

Target Market Determination (CSCri)

Target Market Determination for CSCri effective 13 May 2024.

How to apply     

  1. Gather your information

    You will need to provide certain information in your application for CSCri, which might include:

    • your member number, which can be found in the CSC Navigator or on your Annual Statement.
    • Tax File Number
    • amounts you will transfer into your starting balance, and where they will come from (i.e. other super funds or personal contributions)
    • how you want your super to be invested (i.e. one investment option or a mix)
    • bank details for payments and withdrawals
    • identity documents for digital verification, or certified documents
    • beneficiary nomination
  2. Download the application form

    Complete the application and send it to us. If you need assistance, contact 1 300 736 096.

    Download the CSCri application form

  3. 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).

  4. 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.

    This is usually completed within three days of receiving all required information and funds.

  5. Welcome to CSCri

    You will receive an email or letter with your CSCri account details.

Contact Us

Operating hours: 8:30 am to 6 pm (AEST/AEDT), Monday to Friday

Phone

Local: 1300 736 096

Overseas: +61 2 4209 5402

Fax

Local: 1300 304 241

Overseas: +61 2 4277 1085

Post

CSCri, Locked Bag 20115, Melbourne, VIC 3001

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