Cbus (superannuation fund)

Construction and Building Unions Superannuation (Cbus) is an Australian industry super fund.

Construction and Building Unions Superannuation (Cbus)
Typemutual fund
IndustryIndustry Superannuation
HeadquartersCasselden Place, Level 28,
2 Lonsdale Street, Melbourne, Victoria, Australia
Key people
David Atkin, CEO
Wayne Swan, Chairman
ProductsSuperannuation
RevenueA$50+ billion[1] (funds under management)
Members777,000
Number of employees
450+
Websitecbussuper.com.au

It is one of Australia's largest super funds. It is open to all members of the public as a public offer fund.

Due to its mutual fund structure, CBUS retains all profits to members.

History

The fund was established in 1984 by the predecessor unions of the CFMMEU, to provide a retirement savings vehicle for worker in construction, and other affiliated industries.

Features

There are over 136,000 employers that have made CBUS the default fund for their employees. and manages ~$50b in retirement savings.[2]

Governance

United Super Pty Ltd is the Trustee of Cbus Superannuation Fund. The Directors of United Super Pty Ltd are appointed in equal number from member and employer associations in the construction and building industries. An Independent Director also sits on the board.[3]

The current Chair of the board is Wayne Swan, former Treasurer of Australia.

The prior chair to Swan was the former Victorian Premier Steve Bracks.

References
  1. "CBUS 2018 Annual Report" (PDF). www.cbussuper.com.au. Retrieved 17 December 2018.
  2. "Cbus Annual Report".
  3. "Federal Government Super System Review 2010". Archived from the original on 19 March 2015.
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