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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

  • Gold
Awards
Fund data valid as of February 29, 2016

Typical Fees

Balance This Fund Industry Average Difference
50k $810 $709 $101
250k $2,610 $3,052 -$442
500k $4,860 $5,781 -$921

Investment Allocation

Intl shares 23.6%
Aus shares 16.4%
Property 10.0%
Alternative 1.0%
Fixed interest 15.0%
Cash 19.0%
Other 15.0%

Fees & Charges

Membership Fee $360
Asset Admin Fee 0.03%
Investment Fee 0.87%
Switching Fee $20
Exit Fee $36
Account Size Discount No
Employer Size Discount N/A

Fund Features

Financial Planning Service
Health Insurance
Home Loans
Credit Cards
Binding Nominations
Non-lapsing Binding Nominations
Insurance Life Event Increases
Anti-detriment Payments
Long Term Income Protection

About this Fund

Membership 132,486
Total Assets $8,152,718,706
Year Started 2013
Target Market
Offered to Public?
Fund Type Government-Allocated Pension

Fund Highlights - provided by Commonwealth Superannuation Corporation retirement income

A retirement and transition to retirement product specifically for Australian Government employees
Access to fee-for-service financial planning from Industry Fund Services, with no hidden commissions
Free Holistic retirement education, retirement planning Seminars and workshops
Comprehensive online member access and information
Fees are fully transparent and competitive
All APS members can use external monies to establish a CSCri account
Members can add additional money via the 'Restart option'

Fund Rating Snapshot

  • Legend:
  • Excellent
  • Good
  • Average
  • Below Average
  • N/A

Rating Categories Clockwise from top

Performance
Performance is based on the past 5 years for their core balanced option
Investment Choices
Points scored on additional benefits to members ie: Home loans, Credit Cards, Health Insurance, Reverse Mortgage, shopping discounts, anti detriment payments and many others
Investment Processes
Points scored on contribution collection, via cheque, cash, Eftpos, Bpay, direct debit and other features
Small Account Fees
Points scored on the fees and charges based on an account size of $5k
Medium Account Fees
Points scored on the fees and charges based on an account size of $50k
Large Account Fees
Points scored on the fees and charges based on an account size of $100k
Death Insurance
Points scored on premium costs and features for Death Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Death and TPD Insurance
Points scored on premium costs features for Death and TPD Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Income Protection Insurance
Points scored on premium costs features for Income Protection insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max% on monthly salary, waiting days available and other features
Member Services
Points scored on additional benefits offered to members ie Statement frequency and newsletter communications and other features
Administration Services
Points scored on the fund structure ie switching between investments, selecting regular contributions, nominated beneficiary changes, changing insurance options. For Service features like call centre, adviser services reports and many other features.
Financial Advice
Points scored on features in respect to financial advice facilities offered ie, by phone, internet, face to face, cost of scaled advice and others.
Goverance
Points scored on Trustee structure, number of independent directors , renumeration and proxy voting policy and risk

Score Explanation

Excellent: Score of 75%-100%
Premium performer in this area. Well above benchmark.
Good: Score of 51%-74%
Better than most funds. Above benchmark
Average: Score of 26%-50%
Placed close to benchmark
Below average: Score of below 25%
Not quite up to speed. Lower than benchmark.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced -1.53%
17.87%
14.72%
Fund
Benchmark
Conservative Balanced -0.44%
-0.66%
13.60%
8.25%
12.92%
11.01%
Fund
Benchmark
Capital Stable 3.50%
0.40%
7.61%
6.35%
6.82%
8.17%
Fund
Benchmark
Cash 1.43%
1.47%
2.51%
2.61%
2.51%
2.78%
Fund
Benchmark
  • Legend:
  • 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 30/06/2015, 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.

Option Type Percentage of Growth Assets
min-max %
High Growth 91-100%
Growth 77-90%
Balanced 60-76%
Conservative Balanced 41-59%
Capital Stable 20-40%
Secure 0-19%

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 outperformed the SuperRatings Index over the 12 months to 30 June 2015.

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 switches between investment options each financial year, while an exit fee applies for lump sum payments.

CSCri provides reasonable levels of flexibility with a choice of 4 payment frequencies. 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.


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