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.
