In December 2021, Cbus and NSW energy industry super fund EISS Super signed a memorandum of understanding to complete a merger in 2022.
With $67 billion in funds under management (as at 31 October 2021), Cbus is one of Australia’s oldest and best performing industry super funds. Cbus has returned on average 9.25% per annum over the last 37 years^. Cbus’ Growth (MySuper) investment option returned 19.34% for the 2021 financial year, a record year for the fund*. Effective 14 February 2022, the Growth (Cbus MySuper) investment option has been renamed to Growth (MySuper).
Cbus CEO Justin Arter said the merger would further strengthen Cbus’ position as a leading industry fund.
“Cbus has had a connection and affinity with the electrical industry for decades,” he said.
“We have a strong and growing membership of 36,000 members in the electrical trades. We also have strong relationships with industry leaders like the Electrical Trades Union, Master Electricians and NECA.
“Cbus is a specialist fund for workers who build Australia, a fund that tailors our services such as insurance to our members. By joining together with EISS and Media Super, we will be able to deliver even more for our members by harnessing economies of scale.”
The merger with EISS will follow that of Cbus and Media Super. The two funds signed a Successor Fund Transfer (SFT) deed last year.
Members in the print, media, entertainment and arts, and broader creative industries will join the fund. This will make Cbus a $70 billion funds under management.
For more information about Cbus visit cbussuper.com.au or call 1300 361 784
All figures stated are as at 30 June 2021 unless otherwise noted. ^Past performance is not a reliable indicator of future performance. This information is about Cbus and doesn’t take into account your specific needs. You should look at your own financial position, objectives and requirements before making any financial decisions. Read the relevant Cbus Product Disclosure Statement to decide if Cbus is right for you. Call 1300 361 784 or visit cbussuper.com.au for a copy. Also read the relevant Target Market Determination at cbussuper.com.au/tmd
* The Growth (MySuper) investment option return is based on the crediting rate. This 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.
Issued by Cbus’ Trustee: United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 Cbus ABN 75 493 363 262.