Broadcast news Dec 23

Duplicate member accounts

Did you know we regularly search out duplicate member accounts?

There may be several reasons why a member has more than one Cbus Super account. But much like having multiple accounts with different super funds, members could be paying more fees than they need to be.
To help our members avoid paying multiple fees, we undertake a monthly process to identify members who have duplicate accounts (such as two Cbus Industry Super accounts). Once identified, we undertake a series of steps to assess and verify if the duplicate accounts should be merged.

Key things we look at to assess if we should merge the accounts

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Insurance

What, if any, insurance the member has.

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Contributions

The most recent contributions received into their account.

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Investment choices

The member’s investment choices.

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Beneficiaries

Any beneficiary nominations.

We’ll notify the member once their accounts have been merged and let them know of any insurance premiums or administration fees that may have been refunded to their account.

We're here to help

If your employee notices that they have two Cbus Super accounts, they can also contact us to request their accounts to be merged.  
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