CEO update
Broadcast news October 2024
A message from Kristian Fok
Chief Executive Officer
Member statements on the way
Your employees will be receiving their annual statements this month and with Cbus Super celebrating its 40th anniversary this year, we are pleased to reflect on the strong long term investment outcomes we have generated for our members.
With an average annual return of 8.87% since inception in 1984 and 7.73% p.a. over the last 10 years, our Growth (MySuper) investment option remains ranked as one of the top performing super funds over the long-term*. This is the option that most members are invested in, delivering a healthy 8.35%* return for 2023/24 financial year.
Giving back to members
We work hard to provide members with the best value possible and our growth allows us to give back. From 28 September 2024, the weekly administration fee has been cut from $1.50 to $1†, saving members $26 a year and delivering more for retirement nest eggs.
We are also offering long-term members a loyalty rebate on future insurance premiums, a way of demonstrating we're in it for the long-term with our members. You'll find further detail in our Recognising members in our 40th year article.
Many members seek financial advice from the Fund, and I am delighted to update you that our offerings are expanding to include some household-based advice which can include advice to the member's partner even if they are with another fund, in some instances. Visit our member advice services page to find out more.
Australia’s leading specialist fun
Cbus Super has been recognised with three Chant West awards – Best Fund: Member Services, Best Fund: Responsible Investments and Specialist Fund of the Year‡, which we’ve won five years in a row.
Chant West has acknowledged our leading service for members in building and construction, with a large team of coordinators providing in-person services, the recovery of unpaid super and insurance tailored for hazardous work.
As I reflect on these awards and Cbus Super's 40-year history we are marking this year, I thank you and all the employers we have had the privilege to serve. Your diligence in supporting us as a choice for your people, and then making sure contributions are paid into their accounts, gives them the best chance to secure the best possible outcomes in retirement.
Kristian Fok
CEO
Cbus Super
*As at 30 June 2024. The Growth (MySuper) investment option return is based on the crediting rate which is the return minus investment fees, taxes, and until 31 January 2020, the percentage-based administration fee. Excludes fees and costs that are deducted directly from members’ accounts. Past performance is not a reliable indicator of future performance. Media Super merged with Cbus on 9 April 2022. The historical performance prior to this relates to Cbus’ investment options and does not incorporate the performance of Media Super investment options before April 2022.
†The previous $1.50 weekly administration fee has been reduced to $1.00 for all divisions of Media Super. This reduction will save members $26 a year. The total administration fees consists of a weekly and percentage fee. The percentage fee is 0.19% of an account balance each year - up to a maximum of $1,000 a year.
‡Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 Chant West Awards issued 22 May 2024 are solely statements of opinion and not a recommendation in relation to making any investment decisions. Awards are current for 12 months and subject to change at any time. Awards for previous years are for historical purposes only. Full details on Chant West Awards at chantwest.com.au/fund-awards/about-the-awards
Insurance is issued under a group policy with our insurer, TAL Life Limited ABN 70 050 109 450 AFSL 237848