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CEO message |
2011 has been a very busy year at the Fund and I’ve been pleased to report throughout the year on our activities.
Throughout the second half of 2011 investment markets have been rocky. Cbus has continued to encourage its members to focus on the longer-term. After all, we’ve been through several of these investment cycles before, and have come out ahead.
Cbus’ long term return of 9.1 per cent per annum over a period of 27 years is testament to this. We frequently review our investments and our investment strategy and believe that the Fund is well positioned for growth over the medium to longer term.
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Marketing & Communications |
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Drill ‘n’ Grill Campaign
Results are in on the recent Cbus Drill ‘n’ Grill Campaign, with the campaign generating 37,495 responses (or 5.8%). Over $23,000 in prizes were offered by the Fund to encourage members to update their personal details with the fund, including providing email addresses and mobile phone numbers.
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Growth strategies |
Growth Road Map Project |
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Throughout 2011 the superannuation sector has seen large-scale consolidation. In recognition of this trend Cbus has been looking at what this means for our fund and following on from the successful Connect merger, analysing potential partner funds that would be suitable for merger.
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Shop Steward’s Handbook |
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The latest version of the Shop Steward’s Handbook is currently being distributed on worksites across Australia.
The handbook aims to help Shop Stewards assist members with regard to their superannuation entitlements and access to other products and services provided by Cbus. |
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Sponsorships |
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Cbus has commenced negotiations with our member and employer sponsoring organisations to develop the 2012 sponsor program. Cbus will continue its commitment to existing organisations, subject to proposals, as well as seeking new opportunities. |
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Clearing House |
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The Cbus clearing house project team has worked with Westpac to develop a customised Cbus Clearing House web portal.
The Clearing House will allow employers to pay into multiple super funds using the one system. Cbus will then distribute any payments to funds outside of Cbus on your behalf.
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Organisational Strategy & Service Delivery |
Insurance changes effective 1 December 2011 |
As a result of a new insurance deal negotiated, Cbus members will get increased cover for Death and Total and Permanent Disablement (TPD) insurance. The changes came into effect from 1 December 2011.
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Cbus Member’s keen for financial advice |
The Cbus Advice program continues to grow in number. It is particularly pleasing for the Fund to see the number of inbound calls increasing. Cbus will step-up promotion of the Advice program to members throughout 2012.
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Public policy |
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Three important pieces of super legislation are progressing through the Commonwealth Parliament.
The Superannuation Guarantee (SG), which will see the current rate of SG increase from 9% to 12%, has been passed by the House of Representatives (HR) and will be considered by the Senate next year.
The Future of Financial Advice (FoFA) bills were introduced to the HR and the MySuper bill has been referred to a joint parliamentary inquiry which is due to report mid 2012. |
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