CSC launches income stream product
The Commonwealth Superannuation Corporation (CSC) has launched an account-based retirement income product.
The CSC retirement income product enables PSSAP scheme members to access their retirement savings as a transition to retirement income stream or standard retirement income stream.
It encouraged members that had reached preservation age (55 years old) to consider the new product as it allowed super savings to remain in a tax-effective structure, gave access to a transition to retirement strategy and kept members in the Australian Government super environment.
Features of CSC's retirement income include tax-free payments and withdrawals from age 60, tax-free investment options and reversionary, binding and non-binding beneficiary options.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The central bank has announced the official cash rate decision for its November monetary policy meeting.
Australia’s maturing superannuation system delivers higher balances, fewer duplicate accounts and growing female asset share, but gaps and adequacy challenges remain.
Global volatility and offshore exposure have driven super funds to build US-dollar liquidity buffers, a new BNY paper has found.
Less than two in five Australians are confident they will have sufficient assets to retire and almost three-quarters admit they need to pay greater attention to their balance, according to ART research.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
