Commonwealth Superannuation Corporation Annual Report 2017–18
Copyright and general information
ISSN: 2204–3837
© Commonwealth of Australia 2018
All material presented in this publication is provided under a Creative Commons Attribution 3.0 Australia (creativecommons.org/licenses/by/3.0/au/) licence.
For the avoidance of doubt, this means this licence only applies to material as set out in this document.
The details of the relevant licence conditions are available on the Creative Commons website (accessible using the links provided) as is the full legal code for the CC BY 3.0 AU licence (creativecommons.org/licenses/by/3.0/au/legalcode).
Commonwealth Superannuation Corporation (CSC)
Postal address: GPO Box 2252, Canberra ACT 2601
Phone: 02 6275 7000
Fax: 02 6263 6900
ABN: 48 882 817 243
RSEL: L0001397
Superannuation schemes
CSS ABN: 19 415 776 361
RSE: R1004649
USI: 19415776361001
PSS ABN: 74 172 177 893
RSE: R1004595
USI: 74172177893001
MilitarySuper ABN: 50 925 523 120
RSE: R1000306
USI: 50925523120001
PSSap ABN: 65 127 917 725
RSE: R1004601
USI: 65127917725001
ADF Super ABN: 90 302 247 344
RSE: R1077063
ADF Cover ABN: 64 250 674 722
DFRB
DFRDB
1922 Scheme
PNG Scheme
For information on each scheme visit csc.gov.au/reports-and-information/annual-reports
Note: All statistics are derived solely from records available to CSC and Mercer Administration as of the time these statistics were compiled. Where statistics for earlier financial years are quoted, they may vary from those previously published due to the application of retrospective adjustments now reflected in this report. For similar reasons statistical information in this report may also vary from that presented by other agencies.
Our activities at CSC are guided by legislative and government requirements, and by our vision, mission statement and strategic objectives.
This annual report describes our activities in the 2017–18 financial year, satisfying the requirements of Part 3, Division 2 of the GAGSS Act 2011, section 46 of the PGPA Act and the Public Governance, Performance and Accountability Rule 2014.
The report is ordered as described below.
Introduction
The introduction describes CSC, our superannuation schemes and our members.
Our performance
The performance section includes the Chair’s review of our year’s activities, and our Annual Performance Statements as required under the PGPA Act.
Our Board
This section describes the composition and responsibilities of CSC’s Board, Board remuneration and director indemnity. It also explains how our Board delegates its authority and how the performance of our Board is reviewed. There is also a list of our Board’s directors for 2017–18.
Our governance
The governance section describes our Board’s governance framework and CSC’s regulatory requirements. It explains our approach to financial and risk management, compliance, fraud control and internal auditing.
Our investments
The investments section details how investment performance affects our members’ superannuation benefits. It also provides information on CSC’s investment approach, strategy, governance, environmental and social practices, and investment options. It also outlines our investment performance to 30 June 2018.
Our superannuation services
This section outlines the superannuation services CSC provides to our members and employers, and details how satisfied CSC’s members and employers are with our services.
Our superannuation schemes
This section outlines what functions CSC performed in 2017–18 to manage each of our super schemes on behalf of our members, and accounts for our actions against CSC’s governing legislation.
Financial statements
This section is the audited financial statements for each fund and CSC.
Reporting requirements
This section lists CSC’s specific reporting requirements and includes an index to the whole report.