Commonwealth Superannuation Corporation will move into the next stage of its Retirement Income Strategy in early 2024, enlisting Challenger to develop a longevity solution to help meet its customers’ needs in retirement.
The fund, which manages $63.3 billion on behalf of its 745,000 customers, will introduce a retirement solution to that can be blended with its existing account-based pension, Commonwealth Superannuation Corporation retirement income.
CSC has developed several retirement income solutions tailored to different customers’ needs, based on grouping its customers into cohort-based retirement profiles.
Super funds have been required to develop an RIS as part of the Retirement Income Covenant.
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