The government wants to change superannuation so that workers will be stapled to their first fund. This could leave building and construction workers new to the industry stuck in a fund that won’t cover them if tragedy strikes.
A bill before Parliament contains provisions that will staple people to the first fund they join when they start working.
This means that people who have begun work in retail, hospitality or even manufacturing before coming into the construction industry may be stapled to a fund that may not insure them.
Cbus members are tradies, builders, construction workers. They risk their lives every day when they go to work.
In fact, Cbus members are more likely to experience work related illness or injury in comparison to the general population.
Our members need high quality life and TPD cover and we provide it.
Most funds exclude the hazardous working conditions which Cbus’ insurance cover has been tailored for.
Cbus is concerned that if a construction worker is ‘stapled’ to a fund they joined at their first job, they could be paying for insurance that won’t cover them if they’re seriously injured at work.
Our concerns are:
■ Construction workers could be uninsured or paying for insurance that won’t cover them if they’re seriously injured.
■ Without protection, workers and their families will suffer financially if tragedy strikes.
■ Desperate and grieving families should not be forced to fundraise.
Building and Construction shares a top quintile risk rating with emergency services, including policing and paramedics. It is the third highest sector for fatalities in the workplace in Australia.[i]
We need to talk about the workplace.
We can’t risk building and construction workers having no insurance. This may be the difference between losing or keeping the family home and providing for your family if something happens at work.
For more information about what can you do read more here https://www.cbussuper.com.au/cs/fighting-for-members
[i] Source: https://www.safeworkaustralia.gov.au/statistics-and-research/statistics/fatalities/fatality-statistics-industry.
Cbus’ Trustee is United Super Pty Ltd. ABN 46 006 261 623 AFSL 233792 Cbus ABN 75 493 363 262 This information is about Cbus. It doesn’t take into account your specific needs, so you should look at your own financial position, objectives and requirements before making any financial decisions. Read the relevant Cbus Product Disclosure Statement and related documents to decide whether Cbus is right for you. Call 1300 361 784 or visit cbussuper.com.au for a copy.