The Commonwealth Superannuation Corporation (CSC) has reported that its Public Sector Superannuation Accumulation Plan (PSSap) fund has continued to exceed expectations in its investments to provide the outcomes needed for its customers in retirement.
The CSC reported that over the past financial year customers in all three of its PSSap investment options — MySuper Balanced, Aggressive and Income Focused — received some of the best investment returns in the superannuation industry.
Independent ratings agency, SuperRatings ranked all three of CSC’s PSSap investment options in its top 10.
CSC said its PSSap Income Focused option was once again ranked first of 49 products; the PSSap Aggressive investment option was ranked second of 48 products; and the PSSap MySuper Balanced option was ranked ninth of 48 products.
It said Australia was moving into a new phase of superannuation, where there were more customers drawing down on their super than those contributing.
“CSC has long been focused on the importance of understanding our customers’ particular needs in retirement, their different health expenses, risk appetites and capacity to cope with variability in their retirement income,” the Corporation said.
“CSC’s PSSap MySuper Balanced’s investment objective of Consumer Price Index plus 3.5 per cent per annum is specifically derived from understanding those needs.”
It said its investment approach reflected the needs of customers and was not built to compete with other superannuation funds who had different customers with different characteristics.
“CSC’s approach is built to ensure that our customers have the highest probability of achieving a comfortable retirement income, given their particular circumstances,” it said.
