Fees and charges

As a member of Cbus, you’re with a fund that has some of the lowest fees in Australia. Because we deliver all benefits back to members you can rest assured that you’re only paying what it actually costs to run your account.

Fees when your money moves into or out of Cbus

Type of fee Amount How and when paid
Establishment Fee: The fee paid to open your account within Cbus. Nil N/A
Contribution Fee: The fee on each amount contributed to your account - either by you or your employer. Nil N/A
Withdrawal Fee: The fee charged to your account when you leave Cbus or rollover funds (full or partial rollover) to an external superannuation account. $35 It is deducted from your account when you either leave Cbus or partially or fully rollover funds to an external superannuation account.
Partial Withdrawal Fee: The fee charged to your account each time you make a partial withdrawal using the Enhanced Withdrawal Facility until you reach a nil balance. It only applies to members age 55 and over. $20 It is deducted from your account when a partial drawdown of funds is made using the Enhanced Withdrawal Facility.
Termination Fee: The fee to close your account.

Nil

N/A

Management costs - the fees and costs for managing your account

Type of fee Amount How and when paid
Administration Fee: This covers the cost of administering your account.

$1.50 a week

 

 It is deducted from your account at the end of the financial year or when you withdraw your money.
Trustee Operation Cost: This covers the costs incurred by the Trustee in operating Cbus. It includes Member Protection costs. This cost is calculated in arrears as at 30 June each year, and ranges from 0.10% to 0.25%. For 2008/09 the Trustee Operating Cost was 0.17%. By way of example, if your account balance at the end of the 2008/09 financial yearwas $10,000, the fee would have been $17. It is deducted from the investment return before Cbus declares its crediting rates, either at the end of the financial year or when you withdraw your money.
Investment Costs: These include the fees paid to external and internal investment managers, custodians and asset consultants, property management related expenses, bank fees and net GST on investment costs.

Investment management fees are calculated in arrears as at 30 June each year. They range up to 1.2%, depending on your investment choice options. For the 2008/09 financial year, these fees for each Cbus investment option were:

High Growth: 0.61% ($61, if $10,000 was invested)

Core Strategy: (default option) (0.99% ($99, if 10,000 was invested)

Moderate Growth: 0.76% ($76, if $10,000 was invested)

Conservative: 0.64% ($64, if $10,000 was invested)

Cash: 0.12% ($12, if $10,000 was invested)

The cash figure represents the effective annualised investment cost as this option was introduced on 1.04.09

Capital Guaranteed: 0.50% ($50, if $10,000 was invested)

 It is deducted from the gross investment returns before Cbus declares its crediting rates, either at the end of the financial year or when you withdraw your money.

Service fees

Type of fee Amount How and when paid
Investmemt Switching Fee: The fee for changing investment options. Nil N/A 

Additional fees and costs

Type of fee Amount How and when paid

Insurance Premiums:

$1.95 a week for each unit of standard Cbus Death and TPD cover (Manual and Non-manual);

$1.35 a week for each unit of standard Cbus Death Only cover; or

$2.07 a week for each unit of Electech Death and TPD cover; or

$1.40 a week for each unit of Electech Death only cover;

Note:for the costs of Cbus Sole Trader Income Protection Cover please refer to the relevant Product Disclosure Statement.

 These charges are deducted from your account monthly.
Family Law Requests: These are fees charged for any Family Law requests for information and Family Law payment splits.

Requests for information: $100

Payment split: $80

Paid by cheque at the time of request.

Paid from the benefit amount to be split at the time of the payment split.

Dishonoured Payments Fee: Only applied if a dishonoured personal contribution is received.

$15

It is deducted from your account at the time of the dishonoured payment.

Contribution Splitting Fee: For couples who want to split their contributions. $55 It is deducted from your account at the time of the contribution split.

Not receiving employer payments