Recognising members in our 40th year

We have good news for your employees who are Media Super members in our 40th anniversary year – most will soon benefit from initiatives including lower weekly administration fees and an insurance loyalty rebate for long-term members.

The benefits will help members keep more of their super invested.

All members will see their weekly administration fees cut by one third, down to just $1 a week from the current $1.50.

In a new initiative to boost our insurance offer for long-term members, eligible^* Media Super members will see a rebate appearing in their account this month. The rebate for members who’ve been insured through their super for 10 years or longer is our way of thanking members for their loyalty and is the first rebate of this kind offered by a super fund.

“We’re always seeking ways to give back and provide value to our members. We believe we are the first super fund to acknowledge our long-term members in this way,” Chief Executive Officer Kristian Fok said.

“Our steady growth over 40 years means we’ve achieved a strong position which enables us to give back to our members in this way. These latest benefits will help our members improve their future retirement savings.”

All the changes came into effect on 28 September 2024.

Weekly administration fee reduced

The weekly administration fee has been reduced to $1 a week, from $1.50 a week for all members. This will mean an extra $26 a year for members, giving them more money towards their retirement savings.

Insurance Loyalty Rebate

The rebate will apply to eligible members^* on future insurance premiums. It recognises members with death, total permanent and disablement (TPD) and/or income protection (IP) insurance through Media Super taken out 10 or more years ago, who have held that cover for any period of time, and who are currently insured.

The rebate the member will receive on future premiums will depend on how long ago their insurance cover started. The rebate will be:

• 2% of insurance premiums if a member’s insurance cover was first activated 10-19 years ago
• 4% of insurance premiums if a member’s insurance cover was first activated 20 plus years ago.

Eligible members don’t need to do anything. The full insurance premium will be deducted from 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.

^*Eligibility: For members who joined Cbus Super from Media Super on April 9, 2022, we’ll use the date they first joined Media Super to determine eligibility. See mediasuper.com.au/supervalue