Adam Nettheim
Drawing on over a century of expertise Commonwealth Superannuation Corporation (CSC) is proud to be one of the first super funds in Australia to launch a new suite of retirement resources as part of its Retirement Income Strategy (RIS).
The resources, aimed at supporting the unique retirement needs of CSC’s Australian Government (APS) and Australian Defence Force (ADF) customer base, are aimed at all customers as they prepare for retirement, regardless of how far away that may be. Customer communication starts at age 45, with a strong focus on topics such as maximising retirement income, managing longevity risks, and preparation for unforeseen events in retirement.
Key features include:
- Retirement profiles: A series of Trustee Default retirement options aligned to customer profiles to assist customers in making informed decisions about the transition and retirement income options available to them. Several of these options include a lifetime annuity designed to effectively address the risk of outliving retirement savings. CSC partnered with Challenger to offer these blended solutions and help provide customers with security and the confidence to spend in retirement.
- Comprehensive support materials: A thorough retirement workbook, complemented by interactive modules and a retirement video series, offer extensive support to customers.
- Online tools and resources: New online content and tools to guide customers through their thinking and empower them to take appropriate actions to maximise their retirement income and retire with confidence.
- Targeted communications: Tailored retirement income communications will be sent to customers at specific ages, providing them with relevant support and guidance for their life stage.
- Optimisation of engagement channels: An ongoing analysis of communication channels, conducted to determine the most effective ways to engage customers at various ages, ensuring optimal interaction and support.
The strategy emphasises the unique circumstances of each customer, tailoring solutions to meet their individual needs, and involves a blend of digital resources and personalised, face-to-face guidance.
Adam Nettheim, CSC’s Chief Customer Officer, highlights the transformative impact of the solutions: “We know three-quarters of contributing CSC customers are already on track for a comfortable retirement. This strategy will further enhance these outcomes with tailored support before, during, and after retirement,” said Nettheim.
“Retirement can often be overlooked as people progress through their careers. The earlier our customers start planning, the better retirement they will enjoy. Our Retirement Income Strategy is designed to educate, support and guide our customers on this journey. This launch is just the beginning with an exciting road ahead. At CSC we are focussed on our journey from pension administrator to retirement partner.”