Your CSS benefit is made up of three components:
Also included in your CSS benefit is any money you transfer from other super funds into CSS and super co-contributions CSS receives on your behalf.
What is my member component?
What is my employer-financed component?
It is a payment financed by your employer generally in the form of a CPI indexed pension. It is a notional amount determined by a number of factors:
- your final super salary
- your length of CSS scheme membership (‘actual’ or ‘prospective’ according to why you leave CSS)
- your age when you leave CSS.
What is my productivity component?
It is a payment made by your employer to CSS each fortnight, based on your super salary. It grows over time with scheme earnings which may be positive or negative. Productivity contributions are designed to average 3% for all workers.
Your productivity benefit is generally paid to you with your CSS benefit. It can be paid as a lump sum, non-indexed pension or it can be rolled into a rollover fund such as an approved deposit fund or scheme, or used to purchase a deferred annuity.