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.
Australia’s second-largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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