Cbus
From Wikipedia, the free encyclopedia
| Cbus | |
|---|---|
| Type | Public non-profit |
| Founded | 1984 |
| Headquarters | Casselden Place, Level 28, 2 Lonsdale Street,  Melbourne, Australia |
| Key people | David Atkin, CEO Ralph Willis, Chairman Bernie Fraser , Independent Director |
| Industry | Industry Superannuation |
| Products | Superannuation |
| Revenue | (funds under management) $12.5 billion AUD |
| Website | www.cbussuper.com.au |
Cbus is one of Australia's largest public offer industry superannuation funds. Established in 1984 for the construction, building and allied industries, Cbus has grown rapidly in its 23 years and now provides membership to 508,000 Australians working in a wide variety of occupations and industries.
The company has 49,000 participating employers managing members’ assets worth more than $12.5 billion. A team of national staff and coordinators is available in all states to provide information on the range of super options offered, including industry super for employees and DIY personal and spouse super for those who are self employed.
Remaining true to its roots, Cbus invests back into the construction and building industries to boost the national economy and create jobs. The company is actively involved in the governance and reporting practises of the Australian companies in which it invests.
Extra benefits associated with Cbus membership include financial planning advice, reduced private health insurance rates and low cost banking. Armed with statistics that show 94 percent of Cbus members are male, the superannuation fund also provides support to organisations aiming to prevent recognised health issues that affect the male population in this country today, including prostate cancer and suicide.
The average crediting rate for Cbus Super, the default option, since inception in 1984, is 10.6 percent per year after fees and charges. Cbus is managed exclusively for the benefits of its members and keeps fees among the lowest in Australia. The company pays no commissions to sales agents and there are no shareholders to receive dividends.
