What's your super future?
We're starting the conversation around how much super you might need when you retire, and helping you plan for things you can do now to improve your future position.
When it comes to super, it pays to be proactive and prepared. But, we know that the world of Superannuation can be difficult to navigate, it can be complex and many of us push it to the back of our minds until we feel retirement looming. We're sharing Super stories to help kindle conversations about Super and what it means to you.
We asked some of our members to share their Super stories, here's what you told us ...
If you have a Super story to share, you can let us know on Facebook, Twitter, LinkedIn, or by emailing email@example.com
We have a number of calculators and tools that can help you understand more about your options when it comes to your super. For example:
Small change, big gains
Saving a little bit more now can have a big impact to your super. Use this calculator to see how many little extras you could do without, and how much money you could potentially add to your super by reducing your spending.Small change calculator
Saving for your first home?
The First Home Super Saver Scheme (FHSSS) gives you the ability to save for your first home in a tax-effective environment. Use the FHSSS calculator to see if the FHSSS might be right for you.
Accumulation* scheme members can use the retirement modellers below to see how changes in the decisions you make now can impact your final retirement benefit and how long it may last.
ADF Super retirement modeller
*Defined benefit members can also use the retirement modellers to generate a projection of the accumulation portion of their superannuation.
For the first time ever, CSC is sending retirement forecasts to some PSSap and ADF Super members on their annual statements, to give them an idea of how much money they might have in retirement based on their account activities in the last financial year. We will also be adding more articles and resources online to continue the conversation on how and when you want to retire.
This short video can tell you more about forecasts:
WHAT SOME MEMBERS WILL SEE ON THEIR STATEMENT:
How much is enough?
Recently, we asked our members to answer a simple question;
‘How much super do you need to retire?’
Of course, a simple question doesn’t necessarily mean a simple answer—retirement will be very different for everyone. So, to understand how much money you may need to fund you through your retirement, you first need to have a clear idea of when you want to retire, and what kind of lifestyle you want to be living when you do.
How much super do you need to retire?
The Association of Superannuation Funds of Australia (ASFA) defines a ‘comfortable’ retirement as having involvement in a broad range of leisure and recreational activities—including the occasional overseas holiday—the ability to purchase household goods, private health insurance, and a reasonable car. As well as being able to splash out on good clothes, nice restaurants, and a range of electronic equipment. 
Of all our members surveyed, 67% either thought they would not have enough money to retire comfortably—or, they hadn’t thought about retirement at all!
The good news is, the majority of our members are doing better than they think.
ASFA considers that a couple aged around 65 needs $60 264 per year for a ‘comfortable’ retirement, and a single person aged around 65 needs $42 764. These figures assume the retirees own their own home outright and are relatively healthy.
Our members have benefited from strong returns, and can take comfort in knowing that CSC brings to the table more than 30 years of superannuation experience. So, we understand how best to help get you ready for retirement—even if you’re not thinking about it yet!
For our members who aren’t currently on track for a comfortable retirement—don’t worry, we are here to help.
Best of all, you’ve already made progress by reading this article. Thinking about what kind of lifestyle you want in retirement is a great first step. We have tools and calculators on the CSC website that can help you estimate where you might be in the future, and information about things you can do now to potentially improve your future position.
As a CSC scheme member, you also have access to financial advice services designed to guide you through important decisions you can make now to help you achieve your financial goals.
Over the coming months, we will provide more information to help you understand how to plan for your retirement.
 ASFA Retirement Standard, 2018.
 ASFA Retirement Standard, Detailed Budget Breakdowns, March quarter 2018.
 Past performance is not indicative of future performance.
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