Frequently asked questions
Here we have provided answers to some of our most commonly asked questions
Australian Government's Protecting Your Super package
Why do I currently pay an exit fee ?
CSC currently charges exit fees because processing a member request to exit the fund incurs administration costs.
Charging an exit fee was a fair way to ensure the remaining members in the fund didn’t bear the cost of those members choosing to exit the fund (by way of higher Administration costs).
There are a few different reasons why the Government has decided to ban regulated superannuation funds from charging exit fees. These include making it easier for people to switch funds and the fact that some other superannuation funds have used exit fees as a disincentive to leave their fund by charging higher than reasonable fees. We anticipate that this change will affect most exit fees currently charged by CSC. Once we know more about how this change will impact your fees, we will communicate that to you.
CSC currently only charges exit fees on a cost recovery basis (i.e. we do not make any profit from exit fees). We will communicate with you in relation to any changes to our fees as a result of this new change.
Why haven't you removed exit fees before now?
CSC does not make a profit from exit fees or retain any of these amounts for our benefit as we are a Not-for-profit / profit-for-members organisation.
Currently, the exit fees charged to members reflect long term commercial arrangements that CSC entered into with our service providers several years ago. This was done originally to allow CSC to maintain the current administration fees charged to members without passing on regular fee increases to exit fees charged to CSC.
However, through this legislation change we will be working through what these arrangements means for you, us and our service providers.
Once we know more on this, we will communicate that to you.
What does a 3% cap on fees mean for me?
Although the details of the cap are yet to be determined and the cap will not apply to all fees that members pay, CSC will be required to ensure that members of its regulated superannuation schemes who have an account balance less than $6,000 at the end of a financial year do not pay more than 3% of their account balance for certain fees and costs (generally administration and Investment related fees) for that financial year.
CSC is working with our service providers to implement this change as soon as practicable and with as little impact to all Customers as possible.
I have a preserved account,what will this mean for me / do I have an ‘Inactive low-balance account’ which will be transferred to the ATO?
If your account balance is over $6,000 and/or you have taken any active steps in relation to your account in the past 16 months (including making contributions, investment switches or beneficiary nomination changes) it is likely you do not have an ‘inactive low-balance account’.
There are only limited circumstances where an account will be transferred to the ATO as a result of this change. In general, the account has to satisfy all of the following requirements:
- You and your employer have not made any contributions to your account for 16 months
- The balance of your account is less than $6,000
- Your account does not support, or relate to, a defined benefit
- There is no insurance attached to your account
- You have made no investment option switch for 16 months
- You have made no beneficiary nomination change for 16 months
- You have not nominated in writing that you do not want to be an inactive member; and
- You do not owe any money to your super fund.
It is unlikely that you would meet all of these criteria, however, if you do happen to meet these criteria then your account will be transferred to the ATO as unclaimed money. The ATO will then seek to reunite you with any amounts and consolidate to the active account that they have on record (generally within 28 days). We will contact you if there is a risk that this is likely to occur so that you have the opportunity to opt to remain a member if this is what you want to do.
If you have a Preserved PSSap Account, you do have some options available to you:
- You can now choose to remain with PSSap and have your non APS employer pay into your account (by making an election online). PSSap now offers members the ability to take PSSap with them (see our ‘change in circumstance’ page for more information) and we can also help you consolidate your other super holdings elsewhere (see our ‘Maximise your super’ page for more information); or
- You can consolidate to another Super fund of your choice.
Note: the exit fee will still apply and be charged until members are formally advised
I have an inactive account but I don’t want my insurance to lapse, what do I need to do to retain it?
Logging in to online services
I am having trouble logging into my account, has something changed?
When you log into your account, make sure that your scheme is selected and showing correctly in the top navigation bar.
Your login page may have two login options—one for members, and one for pensioners—so make sure you’re clicking the right button.
If you are in receipt of a pension, make sure your membership number is followed by the two letters of your scheme. For example; 71234567PS for PSS pensioners, or N11111DF for DFRDB pensioners.
What do I do if I can’t remember my AGS number, or my Service number?
Your AGS number can be found on your last payslip, annual super statement or payment split notice (if you are an associate member through a family law settlement). Your Service number is your service prefix (A, N, R) followed by your PM Key.
Forms and factsheets
How do I return a completed form?
All of our forms should have lodgement advice on them—usually on the back page. If you come across a form that does not have instructions on how to submit, please let us know the exact form you are using by emailing email@example.com
What is the difference between a form and a factsheet?
A form is the way we gather information from you, a factsheet is the way we get information to you. You can find forms and factsheets under the 'advice and resources menu'. If you're after a factsheet, make sure you click the 'factsheets' tab on the 'factsheets and publications' page.
You will need to select your scheme from the drop down menu of scheme options to see forms and factsheets that are relevant to you.
How can I vary the tax I pay on my pension?
If you want CSC to withhold additional tax, you can email firstname.lastname@example.org and advise us of the additional amount to be deducted each fortnight, either as a percentage or as a dollar amount. Please make sure you include your name, pension reference number and date of birth in this email.
Where can I find your ABN?
Easy! Just scroll down. CSC's ABN and all of our scheme ABNs are listed at the bottom of our webpages.
Where can I find the i-estimator tool?
For PSS, CSS, Military Super and DFRDB schemes, the i-estimator can be found in your member online services.
How can I make an appointment to see a financial planner?
Call us at 1300 277 777, or email us at email@example.com, and we’ll ask you a few questions to pinpoint exactly what kind of advice you need, and schedule a face-to-face or telephone appointment with one of our authorised financial planners.