New resources to help your CSC client navigate every life stage

CSC’s Retirement Profiles have been updated to strengthen their role as a key retirement planning tool. They are designed for CSC members approaching or in retirement who want to explore how their super could support their retirement income goals. 

What are they?

The Retirement Profiles are a set of retirement scenarios to help members explore different retirement strategies based on relationship status (single or couple), if they own their home or rent and super balance. The updated Profiles are now more personalised, with a member story and case study across 14 scenarios. 

They allow members to prioritise different retirement objectives and scenarios, like needing a lump sum early, steady income over time, access for unexpected costs or a combination of these. Each profile includes specific strategies that support the key objective of the profile chosen.

Any member eligible for a CSCri Standard retirement income stream can apply for CSCri using a Profile.

Explore the refreshed CSC Retirement Profiles.

The Retirement Modeller (also known as the Retirement Calculator) for PSSap and ADF Super members has been updated with a cleaner look and feel and improved usability.

What’s changed?

• The member can choose an initial filter by life stage – starting out, growing, near retirement, in retirement. This allows the default settings to be more accurate upfront.
• A clear initial snapshot and interactive graph shows if the member is on track to meet their desired income in retirement and when their money is likely to run out.

How it works

• The member selects their life stage and updates their basic information (age, target retirement age, gender and super balance).
• They can change investment options, contributions, retirement age and target income using interactive sliders. 
• They can also factor in part-time work, transition to retirement, and eligibility for the Age Pension.

The modeller takes this information to display an interactive graph showing: 

• The member’s likely retirement income – based on the information they have entered.
• The member’s super balance over time and how long their super balance might last in retirement.

Use the modeller with our mutual client to play different scenarios and see instantly how their changes affect their income in retirement through the interactive graph.

Check out the Retirement modeller

If you’re recommending a TTR strategy for our mutual clients, this new Transition to retirement webpage will help you bring the concept to life. The new page features graphics, case studies and easy-to-digest information that walks members through how it works.

And the new TTR video provides an easy-to-follow member-focused explainer about how it works and the potential tax advantages.

On the back of member insights, CSC has refreshed its Retirement Income Strategy so it’s clearer, more practical and member centric.

It demonstrates how CSC guides and supports members through retirement planning and reinforces our purpose to build, support and protect better retirement outcomes. 

The four key areas of the CSC Retirement Income Strategy are:

1. Guidance and advice – providing retirement tools, resources, education and financial advice 
2. Wellbeing and purpose – to inspire members to plan for a retirement that feels rewarding to them
3. Products for members’ retirement needs – as they transition to and move into retirement
4. Clear, helpful communication – tailored to provide insights, opportunities and relevant information over time.

Read the latest member-friendly RIS.

If you’d welcome further help or information to support your CSC member client with building their super or retirement planning, contact the Advice Partnerships Team.