Governance
To maximise the retirement savings of our members, it's important Cbus is well governed by the Trustee.
As the Trustee of Cbus, United Super Pty Ltd holds:
- A Registrable Superannuation Entity (RSE) licence from the Australian Prudential Regulation Authority (APRA)
- An Australian Financial Services Licence (AFSL) issued by the Australian Securities and Investment Commission (ASIC)
- Indemnity insurance to protect, within limits, the Trustee from legal action
The primary source of the Trustee’s power are the Trust Deed (Governing Rules) of the Fund and the Company’s Articles of Association (Constitution).
These documents sets out the rules for running the fund including how Directors are appointed and removed.
- Read our Trust Deed (PDF).
- Read our Constitution (PDF).
Fund Governance Framework
The Fund Governance Framework informs our day-to-day decision making at Cbus.
The framework details the activities and responsibilities of our oversight and decision-making forums, such as the Board and its Committees. It also includes key policies and procedures to guide the Trustee on how Cbus is to be managed.
With guidance from our regulators, our policies are developed in line with industry best practice.
These policies and procedures come together under the Fund Governance Policy, which provides guidance to stakeholders on the integrity of Cbus’ operations.
The Fund Governance Policy is reviewed by the Board at least once a year or as required.
Read our Fund Governance Policy (PDF).
Independent Reports
Deloitte Independent Review released 3 December 2024. Read report (PDF).
Rectification Plan released 11 February 2025. Read report (PDF).
Annual Member Outcomes Assessment
40 years of making hard work pay off.
Financial Year ending 30 June 2024
Each year, Cbus is required to assess the performance of our MySuper and Choice products to ensure we are promoting the financial interests of our members. We assess a number of factors including fees, performance, investment risk, services, scale and operating costs.
We use public data from the Australian Prudential Regulation Authority (APRA) to compare the performance of our MySuper investment option with other default options in the industry, and for our Choice products, we benchmark performance with other comparable products using APRA, Super Ratings1 and Chant West2 data.
Cbus has determined that each of our super products promote the best financial interests of our members.
To read more about how Cbus performed, take a look at our latest Annual Member Outcomes Assessment (PDF) for the 2024 financial year.
1Data sourced from SuperRatings. Refer FY24 Cbus Annual Member Outcomes Assessment for more details.
2Data sourced from Chant West. Refer FY24 Cbus Annual Member Outcomes Assessment for more details.
Register of relevant duties and relevant interests
Cbus maintains a register of duties and interests for itself, its responsible persons and associates, which includes:
- All Directors of the Trustee
- Company Secretary of the Trustee
- All Executive Managers of the Trustee
- External fund auditor
- Cbus Property Pty Ltd, its Directors and officers.
This Register captures all external interests and appointments held by our Responsible Persons and Associates, providing transparency of their commercial and personal interests to our members and stakeholders.
Duties and interests will be disclosed in the register for as long as the Trustee, Responsible or Person has the relevant duty or interest. All gifts received by Directors and the Trustee above $500 in value will be included in the register for 24 months.
Read our Register of Relevant Duties and Relevant Interests (PDF).
Code of Conduct
Cbus has a Code of Conduct Policy that sets out our values, culture and expected standards of behaviour to deliver great outcomes for our members.
Read our Code of Conduct Policy (PDF).
Conflicts of interest
The Trustee has a conflicts management framework which applies across the entire Fund. The framework is a combination of systems, processes, policies and controls which enable the Trustee to identify, assess, mitigate, manage and monitor conflicts.
Read our Conflicts of Interest Policy (PDF).
Whistleblower Policy
Cbus Super is committed to the highest standards of values and conduct. Cbus’ Whistleblower Policy provides information on how to disclose concerns regarding illegal, unethical, or improper conduct, including who is eligible to make a disclosure and how eligible Whistleblowers are to be protected.
Read our Whistleblower Policy (PDF).
Board Performance
The Director Appointment, Performance and Renewal Policy sets out procedures with regard to annually evaluating the Board performance and individual director performance.
In accordance with the Director Appointment, Performance and Renewal Policy, the Company Secretariat is responsible for ensuring that the Board performance assessment (individual and collective) takes place annually. Regular assessment of Board performance supports:
- Improving the effectiveness of the Board to achieve objectives
- Identifying any areas for improvement
- Clarifying individual and group roles.
The assessment encompasses the Board as a whole, Board Committees, individual Directors, Committee Chairs and the Board Chair. A record of the assessment is maintained by the Company Secretariat.
Triennial independent performance reviews of the Board, Directors and Fund Chair occur every three years. Every three years, the Company Secretariat will arrange for the annual, ‘whole of board’ performance assessment to be completed by an external specialist. The external specialist will obtain whole of Board feedback and, to assist in ongoing annual assessments of the Chair's performance and effectiveness, provide this feedback to both the Chair and to the other Directors.
Product dashboard
The Cbus superannuation product dashboard is set out to help you better understand the fees, risks and performance for our default investment option, Growth (Cbus MySuper).
You can use the dashboard to compare the Growth (Cbus MySuper) investment option with MySuper products offered by other funds.
See our product dashboard.
Remuneration
Our remuneration practices reflect our core values, placing our members at the centre of all we do. The way we resource Cbus provides quality products and services to members. Our Remuneration Policy outlines our principles and remuneration arrangements.
Further reading
You can read more about our remuneration practices and Directors' Remuneration Report in the Fund's Annual Financial Report below.
*FY24 Annual Financial Report includes our Directors’ Report and Remuneration Report (audited).
Significant event notices
We have a responsibility to tell our members about material changes to our products, especially if it could impact their retirement savings. We usually communicate these through our newsletters or directly to members, but you can also find a copy of these notices here.
Further reading
You can read more about our governance by clicking on the links below.
- picture_as_pdf Financial Services Guide (PDF)
- picture_as_pdf Supplier Code of Conduct (PDF)
- picture_as_pdf Whistleblower Policy (PDF)
- picture_as_pdf Directors and record of Board attendance (PDF)
- picture_as_pdf Actuarial investigation of the Pool B Subdivision of the Defined Benefits Section of Cbus as at 30 June 2024 (PDF)