This article needs additional citations for verification. (September 2023) |
Construction and Building Unions Superannuation (Cbus) is an Australian industry super fund.
 | |
| Company type | Mutual fund |
|---|---|
| Industry | Industry Superannuation |
| Headquarters | Wesley Place, Level 22, 130 Lonsdale Street, Melbourne, Victoria, Australia |
Key people | Kristian Fok, CEO Wayne Swan, Chairman |
| Products | Superannuation |
| Revenue | A$90+ billion[1] (funds under management) |
| Members | 900,000 |
Number of employees | 800+ |
| Website | cbussuper |
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
editThe fund was established in 1984 by the predecessor unions of the CFMEU, to provide a retirement savings vehicle for workers in construction and other affiliated industries.
Features
editThere are over 136,000 employers that have made CBUS the default fund for their employees, and the fund manages roughly $85 billion in retirement savings.[2]
Governance
editUnited 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
edit- ^ "CBUS 2018 Annual Report" (PDF). www.cbussuper.com.au. Retrieved 17 December 2018.
- ^ "Cbus Annual Report".
- ^ "Federal Government Super System Review 2010". Archived from the original on 19 March 2015.