The original BUS as it was then,… it was revolutionary. It was the first industry super fund. It was the first time, probably, that employers contributed to a fund for workers."
40 years of hard work
Forty years ago, less than 40% of Australians employed in the private sector had superannuation. Most people retired and lived week to week on the pension. Building and construction workers decided to change that by fighting for and winning a truly national, employer-funded, industry superannuation scheme. BUS, later Cbus, commenced operating on 1 July 1984, paving the way for access to superannuation for all Australians.
1980s
1984
The Building Unions Superannuation Scheme (BUS) is established, the first model of a modern superfund
Chair: Garry Weaven
Secretary: Mike Mackay
Tom McDonald designs the Fund’s insurance
$9 a week is the super contribution for every worker
BUS is established, providing eligible workers with super and death cover
30,000 members joined in the first month of the Fund
1987
Total and permanent disability cover is introduced
$50m Funds under management
JOHN ELDER, FORMER EXECUTIVE DIRECTOR OF THE MBA NSW INTERVIEWED – 21 SEPTEMBER 1994
1990s
Mavis Robertson appointed Secretary
1992
Paul Keating introduces compulsory super
1993
Ian Court takes over as Chair
Name changes to C+BUS
1996
$1.4b Funds under management
C+BUS becomes a full Public Offer Fund
Bernie Fraser becomes an Independent Director
1997
Investment Choice option introduced to the Fund
Helen Hewitt appointed Secretary
1999
Bernie Fraser ‘Super of the future’ campaign
2000s
Super guarantee increases to 9%
2001
C+BUS becomes Cbus
Cbus website launches
2002
Hon. Ralph Willis appointed Chair
2004
Sandy Grant becomes Fund Secretary and CEO
2004
$3.6b Funds under management
340,000+ members
Cbus leads the collective industry campaign 'Compare the pair' highlighting industry fund performance
2005
Compare the Pair ‘Construction’ launched
2006
Cbus Property established
2010s
2008
David Atkin becomes CEO
2010
CONNECT merger
Hon. Steve Bracks AC becomes Chair
Superannuation guarantee to increase to 12% by 2025
2014
Cbus launches Cbus app
Newly built stadium in Queensland is named Cbus Stadium
2015
First Annual Integrated Report produced
2016
Senate Inquiry into unpaid super
2017
$40b Funds under management
750,000+ members
2020s
2020
Justin Arter appointed CEO
2022
"Making Hard Work Pay Off" campaign launched
Media Super Merger
Hon. Wayne Swan appointed Chair
2023
EISS merger
Kristian Fok appointed CEO
2024
Wins Chant West Specialist Fund of the Year for the fifth year running ^
$94.7b Funds under management
900,000+ members
^ Chant West
The Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 Chant West rating (Pension and Super assigned February 2024) is limited to General Advice only and has been prepared without considering your objectives or financial situation, including target markets where applicable. The rating is not a recommendation to purchase, sell or hold any product and is subject to change at any time without notice. You should seek independent advice and consider the PDS or offer document before making any investment decisions. Ratings have been assigned based on third party data. Liability is not accepted, whether direct or indirect, from use of the rating. Past performance is not an indication of future performance. Refer to chantwest.com.au for full ratings information and our FSG chantwest.com.au/financial-services-guide. Chant West Awards issued 22 May 2024 are solely statements of opinion and not a recommendation in relation to making any investment decisions. Awards are current for 12 months and subject to change at any time.
Awards for previous years are for historical purposes only. Full details on Chant West Awards at chantwest.com.au/fund-awards/about-the-awards.