Commonwealth Superannuation Corporation retirement incomeInformation shown is for the rated option.
What the Researchers Say:
A "good value for money" superannuation fund that is strong in nearly all assessment areas but with average features and/or performance in one or more of our assessment criteria.
You should contact your financial adviser or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Asset Admin Fee||0.00%|
|Account Size Discount||No|
|Employer Size Discount||N/A|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Offered to Public?|
|Fund Type||Government-Allocated Pension|
Fund Highlights - provided by Commonwealth Superannuation Corporation retirement income
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2016||FY 2015||FY 2014||FY 2013||FY 2012||Comparison|
- Outperformed average
- Underperformed average
- Negative returns
Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2016, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.
Benchmark investment information - how performance is measured
To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.
Percentage of Growth Assets
What the researchers say
Commonwealth Superannuation Corporation retirement income (CSCri) was introduced in April 2013 to provide members of the Public Sector Superannuation accumulation plan (PSSap) with a retirement service. A minimum initial investment of $20,000 is required to commence membership.
A menu of 4 investment options is available including 3 Diversified options and a Cash option. While limited performance history is available for this product, the Balanced option underperformed the SuperRatings Index over the 12 months to 30 June 2016.
Fees are lower than the industry average across medium and large account balances, while less competitive for those with small account balances. Members are entitled to 2 free investment switches each financial year, while an exit fee applies for lump sum payments.
CSCri provides reasonable levels of flexibility with a choice of 5 payment frequencies. Members with more than one investment option can nominate the proportion of, or order in which, payments are to be drawn from each option. Beneficiary options are comprehensive, including both binding and non-binding nominations, as well as reversionary pensions and child nominations. A transition to retirement income stream is also available to members.
CSCri provides members with access to free in-house and public workshops around Australia, as well as a range of online fact sheets, calculators and educational videos. Member Services Online allows members to view and update account details, as well as perform transactions.