2. Our Performance
Administration of our schemes
Table 3. CSC’s operational performance: criteria and results
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Performance criteria
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Result
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Achievement of operational objectives for benefit payments, pension and contributions processing, and the dispatch of member statements (SOURCE: CSC’s 2017–18 Corporate Plan, p. 5; 2017-18 Portfolio Budget Statements, p. 100).
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Achieved: 90% or more of each operational objective was met as shown below.
Benefit payment objectives met:
- 96% of benefit payments to CSC’s defined benefit schemes were paid within five business days of CSC receiving all required documents (exceeding our performance criterion of 85.5%)
- 98% of benefit payments to CSC’s defined contribution schemes were paid within three business days of Mercer Administration (administrator of CSC’s defined contribution schemes and CSCri) receiving all required documentation (exceeding our performance criterion of 85.5%).
Pension payment objectives met:
- 100% of fortnightly pension payment files for CSC’s defined benefit schemes were lodged with CSC’s bank on Wednesday morning prior to pay day (meeting our performance criterion of 90%)
- 100% of pension payments for CSCri and ADF Cover were completed by Mercer Administration by the 21st of each month (meeting our performance criterion of 90%).
Contribution-processing objectives met:
- 99% of contributions to CSC’s defined benefit schemes were allocated to member accounts within four days of CSC validating the contribution (exceeding our performance criterion of 85.5%)
- 100% of paper-based contributions for CSC’s defined contributions were allocated to members’ accounts within three business days of Mercer Administration validating the contribution (exceeding our performance criterion of 85.5%).
Contribution-processing objective met:
- 92% of electronic contributions to CSC’s defined contribution schemes were allocated to member accounts within three business days of Mercer Administration validating contributions (exceeding our performance criterion of 85.5%).
Dispatch of member statements objective met:
- 98% of member statements were available for members of CSC’s defined benefit schemes by end October 2017 (exceeding our performance criterion of 81%).
Dispatch of member statements objective not met:
- Member statements were not available for members of CSC’s defined contributions schemes within the target period, being no later than eight weeks after 30 June 2017. This did not meet our performance criterion of 90% and was caused through the late provision of data from employers and contribution and insurance rectification to member accounts by Mercer Administration. While later than expected, ADF Super statements were sent by 13 September and PSSap statements by 6 October. This did meet the legislative deadline to provide statements to members by 31 December 2017.
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How we administer our superannuation schemes
Mercer Administration Services (Australia) Pty Ltd (Mercer Administration) is contracted by us to administer our PSSap, CSCri and ADF Super schemes. We administer all our other superannuation schemes.
Good administration helps our members
Our administrative performance objectives are a set of strict standards and deadlines on how we administer all of our superannuation schemes. To meet our objectives in 2017–18, CSC and Mercer Administration:
- calculated and paid over $1.5 billion of superannuation benefits
- made over six million payments to more than 237,000 CSC pensioners and CSCri members
- allocated over $2.4 billion of superannuation contributions to member accounts, and
- dispatched almost 500,000 superannuation statements to members.
Meeting our own strict standards gives members peace of mind that their superannuation is administered accurately and efficiently.
Accurate and efficient administration
To administer our members’ superannuation accurately and efficiently we do the following:
- We work with our many employer contacts to ensure that the member data our employers provide is accurate and complete – which is very important to best serve our members and maintain their confidence and trust.
- We continue to improve our workload-forecasting capabilities – so we can deploy the expertise and capacity of staff most effectively during peak service periods.
- And we continue to improve our technology systems – so more of our administration workload is automated for speed and accuracy, while staff spend less time on technology problems and more time on member needs.
