Specialised member initiatives

Cbus Super

At Cbus Super, we’re always looking for ways to give back to our members and enhance our specialised services and products for members.

In 2024 we have lowered our weekly administration fee (from $1.50 to $1) and we have introduced two further initiatives to improve member outcomes. We are now offering long-term members* of ten years plus with an insurance loyalty rebate on their future insurance premiums. And we have enhanced our advice offering, providing strategic advice on a household basis.

Our decision to manage more investments internally is paying off too, delivering $1 billion^# in investment fees and cost savings over the past seven years.

These initiatives recognise Cbus Super members for their loyalty and hard work in our 40^th anniversary year.

Lower weekly admin fee  

We’ve dropped our weekly admin fee that helps cover the day-to-day management of member accounts from $1.50 a week to $1. This benefits all members and will mean an extra $26 a year in accounts, giving members more money towards their retirement savings.

Rebate on future insurance premiums

We’ve introduced our rebate for eligible* members who have had insurance with Cbus Super for 10+ years, even briefly, and currently hold insurance. Cbus holds one of the largest group insurance contracts in the world and we are proud to acknowledge longer servicing members through this initiative. Over 260,000 insurance members will benefit.

How the rebate works:

• 2% off future insurance premiums if your cover was first activated10-19 years ago
• 4% off future insurance premiums if your cover was first activated 20+ years ago.

Eligible members don’t need to do anything. The full insurance premium will be deducted from their accounts as usual, and a separate rebate will go back into the member’s account. All eligible members can expect to see the rebate appear in their account by the end of October.

There are wider insurance premium changes which most members benefit from as well. For example, a decrease in costs for some Income Protection categories. 

The admin fee and insurance changes came into effect on 28 September 2024.

Advice Essentials Plus

Under our new Advice Essentials Plus service, Cbus members aged 60 or over and their spouse/partner can access strategic financial advice through our internal financial experts, even if their partner is not a member of the Fund – at a cost of $990 including GST – which has been welcomed by many Cbus members and their families seeking advice on a household, rather than individual, level.

With a lower weekly administration fee, insurance initiatives for long serving members and the investment fee savings from internalisation, members have more in their accounts for a better retirement.

For more information, visit the Cbus Super website.

*If you joined Cbus Super from Media Super on 9 April 2022, we’ll use the date you first joined Media Super to determine your eligibility. Former EISS accumulation members who transferred to Cbus Super on 12 May 2023, we’ll use the date you joined EISS to determine your eligibility.

^#The cumulative savings are estimated for each financial year from FY18 to FY24 and summed. The approach employed is to multiply the annual average size of the Growth option by the reduction in investment fees for each year relative to FY17.

This information is about Cbus Super. It doesn’t account for your specific needs. Please consider your financial position, objectives and requirements before making financial decisions. Read the relevant Product Disclosure Statement (PDS) and Target Market Determination to decide if Cbus Super is right for you. Call 1300 361 784 or visit cbussuper.com.au

Insurance is issued under a group policy with our insurer, TAL Life Limited ABN 70 050 109 450 AFSL 237848.

United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for the Construction and Building Unions Superannuation Fund ABN 75 493 363 262 (Cbus and/or Cbus Super)