Industry fund
Cbus
Cbus combines a construction-industry focus with public membership, a conventional investment menu and an optional direct investment service.
THE OVERVIEW
About Cbus
Cbus serves building, construction and allied industries, but people outside those industries can join. Its insurance offering is designed with manual work in mind.
Sources1
Who can join
Anyone can join, subject to product eligibility. Certain Retirement Scheme members cannot use all the same investment features as ordinary accumulation members.
THE SUPERGURU VIEW
Our take
Cbus is a sensible fund to investigate when insuring manual work is part of the decision. Its direct property and infrastructure choices also distinguish the investment menu. The serious claims-handling failures recorded by ASIC need to sit alongside those features in a fair assessment.
Who might put it on their shortlist
- Construction and manual workers comparing insurance eligibility and definitions.
- Members who want a conventional default with the option of more direct control.
- Retirees who want regular income and access to the remaining account balance.
What deserves a closer look
- In November 2025, the Federal Court ordered Cbus's trustee to pay $23.5 million for serious delays in death-benefit and TPD claims. ASIC reported a separate remediation program of about $32 million for affected claimants and members.
- Cbus Self Managed's property and infrastructure investments trade through scheduled quarterly windows, so they are less liquid than ordinary listed ETFs.
- Retirement Scheme members are not eligible for Cbus Self Managed.
- A construction-sector focus does not prove that a particular policy is better for your occupation or medical circumstances.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE NUMBERS
Fees and investment returns
Use the product, investment option and employer plan on your statement. Lifecycle members need to choose the relevant stage. APRA's investment pathways may include closed options held by existing members.
| Measure | Growth (MySuper) |
|---|---|
| Return basis | MySuper net return after administration costs, $50,000 representative member |
| 3-year return, per year | 8.92% |
| 5-year return, per year | 6.09% |
| 7-year return, per year | 7.00% |
| 10-year return, per year | 7.82% |
| APRA strategic growth allocation | 76.08% |
| Reported total fees, net of tax, at $50,000 | $455 a year (0.91%) |
| Administration and advice costs, net of tax (included in total) | $180 a year |
| 2026 performance test | Pass |
| New-member status at reporting date | Check the current product eligibility rules |
Source: APRA Comprehensive Product Performance Package 2026, published 28 August 2026. Fees reflect the reporting year to 30 June 2026, are net of tax, use standard arrangements and exclude member-activity fees. Dollar figures are rounded. They are not a current quote. Check the latest PDS for changes, insurance premiums and any separately charged advice.
Returns are annualised historical results. Different return bases, risk levels and periods cannot be treated as interchangeable. MySuper net returns use a $50,000 representative balance even when you change the fee balance. A lifecycle stage return does not track a person moving between stages. Missing figures mean not reported, not zero. Past returns do not predict future returns. Read our method and APRA's definitions.
A CLOSER LOOK
Inside Cbus
Accounts and products
Cbus Industry Super and Super Income Stream. Retirement Scheme members have separate restrictions.
Cbus Industry Super
Super Income Stream
Cbus Self Managed investment option
Retirement Scheme arrangements
Investment choices
Growth (MySuper)
Members can choose pre-mixed and DIY asset-class options, including an Indexed Diversified option. Eligible members can use Cbus Self Managed for selected Australian shares, ETFs, term deposits and managed property and infrastructure investments. Despite its name, Cbus Self Managed is an option inside Cbus, not a separate SMSF.
Insurance
Cbus offers death and TPD cover tailored to building, construction and allied industries. It describes automatic cover for eligible younger or low-balance members in the manual occupation category, an exception that makes the occupation rules especially important to read.
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Retirement income
Super Income Stream provides retirement and transition-to-retirement pathways. The Fully Retired account allows eligible members to receive regular payments and make withdrawals. New members can establish an income stream using money from another super fund.
Advice and support
Cbus has an advice team, retirement information sessions and member support. Confirm whether the proposed service is general help or personal advice and whether a fee applies.
Sources1
Fee details to check
Use the fees for the chosen pooled option or Self Managed arrangement, including account administration, investment costs and any trading costs. Insurance needs its own occupation-based comparison. Do not compare only the cash transaction account's interest rate or the price of one ETF.
Comparing investment performance
Cbus crediting rates deduct investment and transaction costs and investment tax, but exclude charges taken directly from member accounts. Its growth/defensive classification splits some property and infrastructure exposures between the two categories, so inspect the underlying allocation when comparing with another fund.
Show the claims-handling finding as a dated court outcome, not as an allegation or an investment-performance measure.
Compare asset allocation before comparing two funds' published growth-asset percentages.
Sources2
THE LEGAL FUND
Fund size in APRA's annual reporting
CONSTRUCTION AND BUILDING UNIONS SUPERANNUATION FUND
At 30 June 2025. These are legal-fund totals, which can include several products and more than one account per person.
APRA annual fund-level statistics, June 2025. These older totals can differ substantially after mergers. Size is not a measure of suitability or investment quality.
Sources for Cbus
Checked 2026-09-11. Documents and product terms can change after this date.