Focussed on strong returns Page 2 - Trailblazing Tradette Important super updates Building Australia's future - For working members (PDF)
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
September 2021
Trailblazing
Tradette
> Page 3
Important
super updates
> Page 4
Building
Australia’s
future
> Page 5
rong returns > Page 2
sed on st
Focus
Focussed on strong
Super
returns for you
A message from
our CEO Justin Arter
Despite the challenging times we’ve all faced, I’m proud that Cbus remains a resilient industry
leader, delivering strong outcomes for you.
Strong performance Through Cbus Property† we invested in major new
projects for our members to work on, even in the middle
What has never changed is our focus on delivering the of the pandemic. And now that the economic recovery
best return to our members. We’re here to maximise your is accelerating, we continue to invest in projects that
super balance to give you the best chance of having the will deliver for Australia and, most importantly, through
retirement you want. employment opportunities for our members.
Supporting our single-minded drive to maximise your
investment returns is the way we support members with Government changes to super
quality service and advice. The government has passed some changes to super –
I’m pleased to report that Cbus has delivered on all these the change we are most concerned about is ‘stapling’
fronts. This year Cbus Super has announced a 19.34% (where a worker is kept in their existing account when they
return for its Growth (Cbus MySuper) option, the largest change jobs), which is due to begin on 1 November 2021.
ever annual return in the fund’s 37-year history.* This Our main concern with this reform is that workers moving
double-digit return means that by sticking with Cbus, your to building and construction from another industry are at
balance will have benefited from investment returns that risk of not being adequately covered with industry-specific
are among the best from super funds in Australia. insurance through their super.
Reflecting our commitment to service and also the strong You are already in Cbus so nothing changes, we’ve got you
interest we get from you, our members, we took over covered. What we will be doing is working hard to let workers
320,000 general calls, had more than 27,000 advice-related new to the industry know about the benefits of Cbus including
discussions and provided 767 statements of advice this year. our tailored insurance so that they can be covered too.
We also delivered 153 online seminars and arranged for
over 2,000 visits on site. This all adds up to a membership
Thanks for putting your trust in Cbus.
that knows we’re always there when they need us. We are so proud to serve you.
Building for growth * The return for the Growth (Cbus MySuper) option is based on the crediting
rate, which is returns minus investment fees, taxes and until 31 January 2020,
I’m also proud to share our contribution to the road to the percentage-based administration fee. Excludes fees and costs that are
deducted directly from members' accounts.
recovery for our members and the economy generally. † Cbus Property Pty Ltd is a wholly owned subsidiary of United Super Pty Ltd
and has responsibility for the development and management of Cbus’ direct
property investments.
Your coordinators
Local Cbus Coordinators are here to give face-to-face
support when you and your worksite need it. Get in contact
today if you need help, or to organise a workplace information
session. Go to cbussuper.com.au/coordinators to find
your local Cbus Coordinator.
2 | Cbus News | September 2021
Trailblazing Tradette
Lifestyle
Teneille Koster is the proud owner of Tradette Electrical Contracting.
Founded in 2017, it’s one of the first female electrical companies
in South-West and Central Victoria.
Almost a decade after her apprenticeship, there’s not It’s also important to Teneille that
much Teneille doesn’t love about her job (except maybe she contributes equally with her
working in roof spaces on 40°C days). Describing herself husband to their super, so they
as energetic and adventurous, Teneille thrives on a won’t be relying on only one income in
different challenge every day. retirement.
“Working for myself brings flexibility and a real sense of
accomplishment. I never stop learning and finding new
Confidently covered
ways to solve problems for clients,” said Teneille. For this busy Tradette, knowing where
she stands with her super is crucial.
As a woman in the building and construction industry,
she knows what it’s like to be in the minority. The industry “I like working with Cbus behind me as they’re
has come a long way in terms of female participation, and transparent with my benefits and they know
Teneille wants to encourage this further. the construction industry.”
“It’s all about having more choice available to everyone Top of mind for Teneille as she heads
– clients and tradies – regardless of gender.” out each day is the knowledge that she’s
protected by insurance through Cbus,
Taking the long view should anything go wrong.
So, what does she think about super?
“It might not be something I think about every day, but I
“It’s massive peace of mind that helps
definitely make sure there’s money rolling into my super me get out on the job – knowing that
account for later in life.” there’s cover for me and my family”.
Do you have a question about your super? Access to Cbus Advice Services is included as part of your
membership – just call 1300 361 784 and press 4.
Don’t lose your super to scammers
Australians lost $851 million* to scams in 2020. Scams aren’t always
easy to spot, but there are things you can do to guard against fraudsters
stealing your super.
1. Beware of bogus callers – Some members have 3. Keep your identity safe – Don’t give copies of your
fallen victim to criminals pretending to be from a ID for an unknown purpose, and check your contact
super fund or other financial service. Hang up and details for your super account are correct.
always call the organisation directly.
Visit
moneysmart.gov.au for more tips on how
2. Only use trusted advisers – Some criminals pose to protect yourself against financial scammers.
as financial advisers offering help. Always check
Moneysmart’s financial adviser register before * Targeting Scams: Report of the ACCC on scams activity 2020.
getting advice.
Cbus News | September 2021 | 3
Super snapshot
Super
Some important changes took effect from 1 July 2021.
Here’s what you need to know.
Making it easier to get your super
back on track
If you took a COVID-19 payment from your super
last year, it probably made all the difference. If your
situation has changed and you can afford it, it’s now
easier to get your super back on track.
From 1 July 2021, you can re-contribute up to the
amount you withdrew – without penalty. These
special re-contributions:
■ don’t count towards your after-tax contribution
cap (see below)
■ cannot be claimed as a personal super deduction.
To find out more, visit cbussuper.com.au or call us
on 1300 361 784.
Increase to super contribution caps
There are caps on how much you can contribute
to super each year at lower tax rates. These caps
have increased for the first time in four years.
Good news if you want to boost your super!
■ Before-tax contributions – $27,500 a year.
■ After-tax contributions – $110,000 a year.
And if you’re under age 67, you may now be able
to contribute $330,000 in any three-year period.*
If you contribute more than these limits you
may pay extra tax. For more information, visit
ato.gov.au/super.
* Limits apply: If you made more than $100,000 in after-tax
contributions during 2019/20 or 2020/21, you can only contribute
$300,000 in any a three-year period.
Your minimum employer
contributions have risen to 10%
If you’re working, you might have noticed a recent
boost in super from your employer. The minimum
percentage employers are required to pay has
increased from 9.5% to 10%.
It’s a good idea to check your super contributions
to make sure you’re getting the right amount. Just
log into your account at cbussuper.com.au/login
or call us on 1300 361 784. Or reach out to your
Union Delegate or Cbus Coordinator and they
can check for you.
4 | Cbus News | September 2021
Investments
Building Australia’s future
As global leaders in green building design and construction,
Cbus Property remains focused on sustainable growth.
The building and construction industry played a major role Cbus Property together with the owner-operator of
in economic recovery following the COVID-19 crisis. Cbus Westfield living centres, Scentre Group, are reinventing
Property* continued to invest in projects that created jobs the former David Jones department store as a modern
for our industry and delivered a return of 11.40%† for the testament to sustainable design.
2021 financial year. Located within the prime Hyde Park precinct, this heritage
For two years running Cbus Property has been awarded the redevelopment will feature high-end retail and premium
highest rated commercial office portfolio in Australia in the commercial components within the existing building.
NABERS Sustainable Portfolios Index (2020 and 2021).‡ A new 22-storey luxury residential tower above will have
Sustainable buildings attract higher quality tenants who can 101 boutique residences, exclusive amenities, podium
have a further positive impact on how the building is utilised gardens and spectacular views across Sydney Harbour
when fully operational. Sustainable building developments and Hyde Park.
are a great long-term investment and contribute to returns
for all Cbus members.
Creating jobs for members
Cbus Property has a long-standing reputation for leading
Our latest green building and developing highly rated, sustainable projects across
the building and construction industry. Our developments
Construction has begun on the $1 billion landmark
benefit Cbus members by providing strong long-term
mixed-use development at 111 & 121 Castlereagh in
returns, while also creating meaningful jobs in building and
Sydney’s CBD.
construction. This project has been estimated to create
2,000 direct jobs through the construction phase.
111 Castlereagh Street,
Sydney. Artist's impression.
15.01%
Cbus Property return
since inception †
over 100,000
direct jobs created §
* Cbus Property Pty Ltd is a wholly owned subsidiary of United Super Pty Ltd and has responsibilities for the development and management of Cbus’ direct property investments.
† Returns are as at 30 June 2021. Cbus Property investments are part of the property asset class in the High Growth, Growth, Conservative Growth and Conservative
investment options. These returns are net of fees and form part of the crediting rates allocated to accounts invested in these options.
‡ See nabers.gov.au/portfolio for the NABERS Sustainable Portfolios Index 2021.
§ Estimated jobs since 2006 to June 2020 based on inductions for completed and committed developments.
Cbus News | September 2021 | 5
Investments
Investing for
sustained growth
This year we’ve seen our strongest ever
returns as the market bounced back.
The first half of 2021 marked the 12-month anniversary Supporting our members
of the COVID-19 pandemic and during this time, markets
We’re proud to have supported more than 279,000
returned to their pre-COVID levels; in part thanks to the
members to access $2.3 billion in early super access
world’s largest vaccination campaign which recorded more
payments due to financial hardships as a result of the
than 3.35 billion* doses administered.
pandemic.
Our Growth (Cbus MySuper) option In addition, we continue to look at new and different ways
to reduce fees for our members. We’re continuing to move
has delivered a 19.34%† return for our much of our investments function internally, which means
members – the largest ever annual hiring directly through Cbus and creating important jobs for
return in our 37-year history. our community. This has enabled us to lower investment
costs for members by roughly 8% for each dollar invested
This record result builds on a strong relative result in the over the 2020–21 financial year. Currently in its fourth
previous financial year, where Cbus was one of a small year, this program has saved members over $400 million in
group of funds to record a positive return of 0.75%‡. investment fees to date – that’s around a 40% saving.
Cbus’ significant investments in asset classes such as We’re also proud to have supported the building and
Australian and global shares, infrastructure and property construction industry throughout the pandemic, along
have helped deliver a fantastic result over the 12 months with contributing to economic recovery. Through Cbus
to 30 June 2021. The investment team’s active Property§ we invested in major new projects and, at the
management allowed real-time changes to take advantage height of the pandemic as banks tightened their lending,
of market opportunities as soon as they happened. Cbus stepped up and lent to successful residential
One example is the $4 million gain through investing in development projects that were struggling to get financing.
GameStop (NYSE: GME), a stock that skyrocketed earlier This kept projects going, supported jobs in construction
in the year. and added to our investment bottom line.
We’ve also been able to capitalise on some of the Through a combination of capital raisings, debt finance
fundamental market conditions like low interest rates and and project finance Cbus has committed and invested over
emerging market trends such as the global shift to clean $1.5 billion through the COVID-19 crisis and into the
energy. The team has used this knowledge to maximise recovery. We currently have over $1 billion in funding
returns for members while investing in opportunities approved to deploy into further opportunities in this space.
arising from the transition to a more sustainable global
economy. This is also something we’ve embedded in our
fund strategy so that this remains an important focus
in the years to come.
* Source: Bloomberg. As at 9 July 2021.
† For the year to 30 June 2021.
‡ For the year to 30 June 2020.
The return for the Growth (Cbus MySuper) option is based on the crediting rate, which is returns 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.
§ Cbus Property Pty Ltd is a wholly owned subsidiary of United Super Pty Ltd and has responsibility for the development and management of Cbus’ direct property investments.
6 | Cbus News | September 2021
Investments
Performance (%) to 30 June 2021
Growth (Cbus MySuper) option* SuperRatings fund median†
19.34
17.85
9.81 9.21 9.55
8.72 8.00 8.28
1 year (%) 5 years (% per year) 7 years (% per year) 10 years (% per year)
* The return for the Growth (Cbus MySuper) option is based on the crediting rate, which is returns 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.
† The average median return is taken from the SuperRatings SR50 Balanced (60-76) survey (June 2021). SuperRatings is a ratings agency that collects information from
super funds to enable performance comparisons – visit superratings.com.au.
To learn more about our investment options visit cbussuper.com.au/investment-holdings or call Cbus Advice
Services on 1300 361 784 (press 4) – this service is included in your membership.
It pays to have your super
in the one place
Combining your super into your Cbus account could mean more in your pocket when you retire.
If you’ve had more than one job, you could have more than one super account. And this means you’re probably paying
more fees than you need to. By combining your super into Cbus, you can save on fees and benefit from our history of strong
long-term returns.
Here’s how:
Know the details of your other funds? It’s easy to combine your super online. Simply log into your account
at cbussuper.com.au/login and go to Consolidate my super.
Want us to search for other super you might have? Just call us on 1300 361 784 to do a search on your
behalf. You’ll need your tax file number handy, and we’ll need to run an ID check with you (to make sure the
super belongs to you).
Cbus News | September 2021 | 7
Strength in numbers
Two of Australia’s leading super funds – Cbus and Media Super – are progressing well
on our proposed merger.
Cbus and Media Super
– stronger together
Cbus and Media Super are working hard to merge the two funds over the next year. Stronger together, our plan
is to increase our collective scale and make two great funds even better for our members. Launching more options
for you to invest your account in is just one boost that’s in the works.
It’s exciting times, so keep an eye on cbussuper.com.au/news for all the latest updates.
Contact us Find us on
1300 361 784 8am to 8pm (AEST/AEDT) Cbus, Locked Bag 5056
Monday to Friday, closed on national public holidays PARRAMATTA NSW 2124
cbusenq@cbussuper.com.au Visit Cbus in person in Adelaide, Brisbane, Melbourne,
cbussuper.com.au Perth and Sydney. Details: cbussuper.com.au/contact
1319.5 09-21 ISS10
Stories and images have been reproduced with the individuals’ consent which has not been withdrawn at the publication date. All care has been taken to ensure that the information
contained herein is correct, but neither the Trustee nor its advisers accept responsibility for the content, any error or misprint, or for any person who acts on this information. Cbus
News is issued by United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for Cbus ABN 75 493 363 262. 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
(available from 5 October 2021). Past performance isn’t a reliable indicator of future performance.
You can also read
