The Public Service is a constantly evolving engine largely driven by policy and government changes.

A byproduct of this constant evolution can often unfortunately be redundancies for department employees which can often be quite a stressful and overwhelming time.

Since I have been advising on the Commonwealth Superannuation Schemes through CSC, there have been many such redundancies across a number of departments including;

• The Australian Taxation Office (ATO);

• The Department of Defence;

• The Australian Bureau of Statistics (ABS);

• The Australian Broadcasting Corporation (ABC);

• The Department of Human Services;


When faced with a redundancy, one issue that many employees face is what to do with their CSS and PSS defined benefit superannuation funds. There are a lot of emotions occurring at this time, so planning what to do with these funds may not seem like an immediate priority.

However, given the complexities of these funds it is extremely important to get financial advice if you are going to be receiving a redundancy. The decisions made at the time of redundancy are irreversible and in place until death.

Over your lifetime, the difference between making the right and wrong decision could equate to hundreds of thousands of dollars, maybe even millions of dollars in the case of CSS.

It is critical to seek advice from a planner experienced in this area. I have a lot of experience with clients experiencing this issue and I am of course happy to provide this guidance that is so important. But my advice is, do not try to take this financial step without seeking out expert guidance.

Once these decisions are made there really is no turning back.

Cameron Teague

certified financial planner I Director

I am owner and director of Cameron Teague Wealth Advisory. My practice is a privately owned, fee-for-service business with offices in Brisbane and at the Sunshine Coast. I also offer phone and online appointments to clients living in remote, regional and overseas locations. I have been working in the Australian finance industry for more than 20 years within both private practice and Industry Fund environments. I provide my clients with clear, readily understandable advice which puts their interests first and which will get them results.