Media Super & Cbus prepare to merge

Media Super and Cbus recently signed a merger agreement and, while there are still some approval processes that need to happen, our funds are now working towards completing the merger process by mid-2022.

Our focus remains on supporting our members in the print, media, entertainment and arts industries, as we have for more than 30 years. Media Super has been performing well for our members, with strong long-term returns and competitive fees and service offerings. However, part of ensuring we’re looking after your best financial interests includes recognising that we will be stronger as a merged fund with Cbus.

Cbus is a top-performing, award-winning and growing industry fund that shares the same values and mission as Media Super – helping our members achieve better retirement outcomes.

There are many super fund mergers underway at the moment. This merger is different as both funds retain their brands, and Media Super members will be transferred into the Cbus Super fund with United Super as the trustee. The merged fund will have more than $70 billion in assets and manage the retirement savings of around 850,000 hardworking members.

Media Super members will still benefit from products and services tailored to your industries, while also gaining access to the benefits of size and scale that come with belonging to a larger fund.

Those benefits include access to more investment opportunities, greater scope to manage fees effectively and access to innovative products and services, including for those approaching or in retirement.

Media Super Chair Susan Heaney says that by keeping the Media Super brand, members can be confident that they will still have a voice within the larger fund, and that the fund will maintain its focus and support for those employed in the print, media, entertainment and arts sectors.

“Our members have much in common with Cbus members in terms of the nature of their work,” Ms Heaney says. “Many are self-employed, others work on fixed-term contracts or in casual employment. Like the construction sector, their workplaces are often changing and can be disrupted.”

“We’re very pleased to be merging with a fund that is proactively developing the products, services and digital capability to support members who face similar challenges in confidently building future financial security in a dynamic work environment,” Ms Heaney says.

What happens next?

Media Super and Cbus are now focused on transition planning to integrate investment, administration and operations. This is a very comprehensive process, with both funds ensuring the plan will deliver a result that’s in the best financial interest of members.

It’s the right time for our funds to come together, and our focus is squarely on delivering strong long-term investment returns and retirement outcomes for Media Super and Cbus members.

We will continue to provide you with updates as this work progresses and as the merger date draws closer, we’ll make sure you have all the information you need to ensure a smooth and easy transition for Media Super members.

You can always find the latest information here on our website and if you have any questions, please call the Helpline on 1800 640 886 or lodge an enquiry through your account online.

You can also find out more about Cbus at cbussuper.com.au.