Restart CSCri
Thinking about boosting your super balance in your CSCri account? It may be a smart choice to support your retirement lifestyle now and into the future.
While you can’t contribute directly to your existing income stream account, you can restart your CSCri account to combine your current balance with new funds—whether from:
- selling an investment property,
- downsizing your home,
- receiving an inheritance, or
- rolling in other super savings.
Investment
You need at least $10,000 to add to your new CSCri account.Processing time
Restarting takes 5 to 10 business daysProcessing time starts once your funds become available and we receive your CSCri consolidation and restart form.
Your income stream payments will continue uninterrupted.
Why boost your super?
Adding more to your CSCri account:
- is tax effective—investment earnings are tax-free, and your income stream payments are tax-free from age 60;
- is cost effective – consolidating your savings into one CSCri account means only one set of administration fees; and
- allows you to invest your super savings in one or more CSCri investment options while you access your super savings.
Here's how it works
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Log in to CSC Navigator and write down your payment amount and frequency, your investment strategy and your beneficiaries
You’ll need to add these again when your new CSCri account is set up.
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Complete the CSCri consolidation and restart form and email or post it to us
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Add your extra money
It must be a minimum payment of $10,000 that’s over and above your existing CSCri balance.
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We’ll start a new CSCri account for you
Your new account will have a higher account balance, and you’ll get a new account number. We’ll let you know the details when it’s done.
What we do once we receive your payment
When your PSSap account receives your nominated amounts we will:
- close your current CSCri account,
- pay you any remaining pro-rata minimum income that’s due to you for the financial year from your CSCri account (legislative requirement)
- transfer your entire CSCri balance to your PSSap account, and
- invest all amounts (the CSCri account balance and your new amount) in the Cash investment option.
What happens during the consolidation timeframe?
Your existing CSCri account doesn’t change until we receive all your additional money and your completed restart application.
We’ll time the process so you’ll hardly be aware it’s happening. For example, if your next income payday is within 5 business days, we’ll time your consolidation so that it starts as soon as possible after payday. And during consolidation, you will continue to get your income stream payments.
What if I don't have a PSSap account?
If you don’t have a PSSap account, we’ll set a temporary one up for you and let you know the details.
Cost to restart
There is no charge to restart your CSCri account but you should be mindful of the transfer balance cap rules.
- You’ll be charged a small administration fee while your funds are consolidated in PSSap.
- You may incur buy–sell spread costs in your new CSCri account depending on the investment strategy you choose.
Get the advice you need
As a CSC customer, you have access to comprehensive financial advice that’s personalised to help you reach your financial goals. This ‘fee-for-service’ advice is delivered by our experienced financial planners*.
Financial planningDownload
Product Disclosure Statement
This document provides important information about the features, benefits, risk and cost of investing your super in CSCri.
Consolidation and restart form
Use this form to restart your CSCri with additional monies and/or transfer amounts.