Financial advisers
ARIA is encouraging CSS members to seek professional advice in regard to their expanded contribution options. To help you give the right advice, we’ve developed this page with all the facts.

What’s changed?

Previously CSS members were required to contribute 5% of their salary (as their basic contributions) into their super. They could also elect to contribute more through supplementary contributions.

From 1 July 2008 onwards, members can continue to contribute 5% (as their basic contributions) OR they can choose not to contribute at all (0%).

What could this expanded option mean for your clients?

If they choose not to contribute at all, and retire after age 55, their CPI indexed pension won't be affected at all. However, if they resign and preserve their benefit, not contributing at all may have a detrimental affect on the final pension they receive.

ARIA sees this expanded option as presenting members with a great opportunity to explore the unique benefits of the CSS and how their rate of contribution determines the size of their final lump-sum benefit.

The CSS gives members the security of a long-term superannuation benefit that is part accumulation and part defined benefit. They:

• pay no administration fees
• receive employer benefits that accrue well above the 9% SGC rate
• have automatic death and invalidity cover, at no cost; and
• have a number of flexible retirement benefit options (lump sum, indexed pension or a combination of both).

Further information to assist your clients

• Download our Fact Sheet for Financial Planners.
• Visit www.css.gov.au
• Download the information booklet sent to CSS members.