Cbus Superannuation

Cbus Super

The Construction and Building Unions Superannuation Fund, known as Cbus Super, is an industry super fund. Cbus Super is Australia’s largest super fund for the building, construction, and allied industries, with membership open to all Australians.

Types of Cbus Super super accounts

Cbus Personal Super

Cbus says its Cbus Personal Super product is for “people not currently working or receiving employer payments”. Cbus says its super products offer a range of investment choices as well as options for making additional contributions. Flexible death, disability and income protection cover may also be available. For more information about this product, you can visit the Cbus website and read the Product Disclosure Statement (PDS) and Target Market Determination (TMD), as well as the Cbus Self Managed investment guide.

Cbus Industry Super

Cbus says its Cbus Industry Super product is for “people joining with an employer”.. For more information about this product, you can visit the Cbus website and read the PDS and TMD, as well as the Cbus Self Managed investment guide.

Cbus Sole Trader Super

Cbus says its Cbus Sole Trader Super product is for “self employed people”. For more information about this product, you can visit the Cbus website and read the PDS and TMD, as well as the Cbus Self Managed investment guide.

Cbus Super Income Stream

Cbus says its Super Income Stream product is for “people nearing or in retirement”. For more information about this product, you can visit the Cbus website and read the PDS and TMD, as well as well as the Cbus Self Managed investment guide.

How to join Cbus Super

Before committing to a particular fund, consider comparing your options with Canstar and checking out our choosing a super fund checklist. You can also read the PDS and TMD for a Cbus Super product, which could help you decide whether the offering is suitable for your needs.

If you decide to join Cbus Super, you can apply using its online form.

Finally, remember to tell your employer that you’ve joined Cbus Super. Your employer should give you a Superannuation Standard Choice Form to fill out, sign and return to them.

Compare Super Funds

Cbus Super FAQs

United Super Pty Ltd is the trustee of Cbus Super. Its Directors are appointed from member and employee associations, and there are two independent Directors at the time of writing. Cbus Super’s sponsoring organisations include the following unions and employer associations:

  • ACTU – Australian Council of Trade Unions
  • AMWU – Australian Manufacturing Workers Union 
  • AWU – Australian Workers Union
  • CEPU – Communications Electrical Electronic Energy Information Postal Plumbing and Allied Services Union of Australia
  • CFMEU – Construction, Forestry, Maritime, Mining and Energy Union
  • MBA – Master Builders Association.

Cbus Super offers a choice of  six core investment options at the time of writing:Growth (Cbus MySuper), Cash Savings, Conservative, Conservative Growth, High Growth and Cbus Self Managed. By default, the Growth (Cbus MySuper) investment option is chosen for members, if they don’t select a different one.

Cbus Super invests in the building and construction industry through its subsidiary, Cbus Property, as well as investing its members’ assets more widely for the long-term. The fund’s asset classes include shares (Australian, global and emerging markets); private equity; alternative growth; property; infrastructure; global credit; fixed interest and cash.

The risk level, likelihood of negative annual returns and return on investment (average) can vary across different investment options. You can choose to invest in one option or a combination of options and can also switch choices for no fee.

For more details on investment options, you can contact Cbus Super or read the PDS.

While it does not offer a specific ‘ethical’ investment option at the time of writing, Cbus Super says it takes a ‘whole of fund’ approach to ethical investing, applying “responsible investment practices to all our investment activities across our total portfolio”. Its responsible investment approach is focused on workplace safety; human, community and labour rights; and climate change. Cbus is a member of the Responsible Investment Association Australasia (RIAA), and is a signatory of the Tobacco-Free Finance Pledge.

Cbus Super charges a variety of fees to its members in return for managing their superannuation savings. At the time of writing, some of its fees include:

  • Investment fees, which may vary depending on investment options and can include investment management fees, performance-related fees, transactional and operational costs and other investment costs.
  • Administration fees of $2 a week, plus 0.19% of your account balance a year, up to a maximum of $1,000.
  • Insurance fees, if you have insurance cover through your super.

For Cbus Super’s self-managed option, fees can include portfolio administration fees, asset-based fees, brokerage fees and management fees.

Bear in mind that other fees may apply. Consider checking the PDS for details and reading Cbus Super’s ‘Fees and costs’ fact sheet. You can also compare the annual fees for Cbus Super’s default investment option to other super funds’ fees on Canstar’s database.

Compare Super Funds

Cbus Super says you can consolidate your super by calling them, providing identification (ID) and giving them permission to search for lost or other super. It says you can also log into your Cbus account and consolidate your super, if you know the details of other funds, or use its ‘Combine your super into Cbus’ form, and either post this or email it back.

It’s important to check with your current super fund(s) for information regarding any related costs you may incur and any insurance cover you may lose if you switch super funds. Also consider whether consolidating your super is a suitable decision for your life stage and retirement goals.

To help you stay on top of your super, it may be beneficial to check your regular super statement closely. Here are some of the factors that could be worth paying attention to:

  • Are your personal details up-to-date?
  • Are your nominated beneficiaries up-to-date?
  • Is your Tax File Number (TFN) correctly recorded?
  • Are the super contributions from your employer and/or your voluntary contributions correct?
  • Are your investment asset class choices appropriate for your life stage?
  • Are you happy with the amount you’re paying in fees?
  • Is your insurance still adequate for your needs?
  • Have you decided whether to consolidate your super, after checking whether there is insurance or any other benefits attached to the account you may lose and if you’re comfortable to do so?
  • The big picture – are you happy with your super fund overall?

Cbus Super was formed in 1984, when building and construction workers won the right to superannuation. Cbus Super provides superannuation and income stream accounts to more than 775,000 members, and manages over $65 billion of its members’ money at the time of writing.

This content was reviewed by Sean Callery as part of our fact-checking process.

Written by: Jacqueline Belesky | Last updated: December 3, 2021