Making Contributions

Who can contribute?
Generally, contributions can be made to Cbus Self-Select by you, on your behalf and/or by your employer:

if you are under the age of 65; or
if you are aged 65 and over but not yet 70 and, at the time the contribution is made, you have been gainfully employed for at least 40 hours for a period not more than 30 consecutive days in that financial year

If you are aged 70 and over but not yet 75 and, at the time the contribution is made, you have been gainfully employed for at least 40 hours for a period not more than 30 consecutive days in that financial year, the member contributions must be made by the member personally (i.e. Spouse Contributions cannot be made on your behalf if you are aged 70 years or more.

If you are over 75, your employer can make only mandated contributions (i.e. contributions required to meet award obligations).

What types of contributions can be made?
Cbus Self-Select can accept the following types of contributions:

Employer contributions: including superannuation guarantee and award contributions (where allowed), plus any additional amounts the employer sponsor contributes.
Salary sacrifice contributions: you may be able to arrange with your employer to make contributions to Cbus Self-Select instead of paying you the equivalent amount of pre-tax salary.

(These are treated as employer contributions and are counted toward your Concessional Contributions Cap.)

Member contributions: Contributions you as a member pay from your after-tax income.
Spouse contributions: Contributions your spouse pays into your account other than as an employer.
Transfers/rollovers: You can transfer or roll over existing superannuation money (Superannuation Lump Sums) and invest Employment Termination Payments (ETPs) into your Cbus Self-Select account at any time.

(Generally, these are counted towards your Non-Concessional Contributions Cap.)

Government co-contributions: A co-contribution from the government of up to $1,500 per year can be added to your account.

(The Government Co-Contribution is not counted towards any Contribution Cap.)

Initial contributions

An initial, minimum contribution of $50,000 is required to join Cbus Self-Select This amount can be deposited into your account or rolled over from another fund.

Ongoing contributions
Contributions can be made on a monthly, quarterly, half-yearly or yearly basis. Lump sum contributions can be made at any time. These payments can be made via:

BPAY ^®: a method of making payments to your account via the internet or telephone banking. We will send you information on BPAY^®when you become a Cbus Self-Select member.

Direct Debit : enables payments to be made on a regular or ad hoc basis. Cbus Self-Select members will need to complete a Direct Debit application.

Cheque : you can send us a cheque with your account details, including your membership number, at any time. You can also request a payment book to make ad hoc payments to your super account.