FAQs

Go to Investing with Self-Select FAQs

Go to Operating your account online FAQs

General

1. When will I receive my statements?
2. How do I change/increase my insurance cover?
3. What investment options are available to me?
4. How do I switch between investment options?
5. How can I learn about the basics of investing?
6. How can I better understand my attitude to risk?
7. Where can I get information on the performance of the fund?
8. Why should I consolidate my super?
9. Why are there ‘diversification rules' on this product?
10. How do I nominate a tax file number?
11. How do I get the necessary information to pay money to my account via Bpay?
12. How do I claim my benefits?
13. What do I do if I have a complaint?
14. Is there a cooling off period?

Q1. When will I receive my statements?
A. Your annual Member Statement is posted in late September, and a mini-statement will be posted to you in February/March. If you do not receive your statements call our Customer Service Centre.

Q2. How do I change/increase my insurance cover?
A. In most cases you can change your insurance cover by completing an insurance form (found in the Self-Select PDS or by calling our Customer Service Centre). You will also find information about the insurance options on the Cbus website. More information about your insurance options is available on our website, or by calling the Customer Service Centre on 1300 361 784.

Q3. What investment options are available to me?
A. You can choose to invest in one or a combination of the following investment options:

DIVERSIFIED OPTION: Choose from 4 diversified options, which automatically invest in a number and variety of asset classes across a number of Investment Managers.
ASSET CLASS OPTION: Choose from 4 Asset Class Options, which focus on a specific asset class such as property and fixed interest.
AUSTRALIAN SHARES (ASX100) OPTION: Invest in one or a combination of the top 100 stocks listed on the Australian Stock Exchange S&P/ASX100 Index.

Q4. How do I switch between investment options?
A. Making an investment choice and switching between investment options can either be done online through Cbus SuperSite or by contacting our Customer Service Representatives who will issue you with the appropriate forms. You can also download the relevant forms from the website. If you require access to SuperSite please call us and we will organise the issue of your login and PIN.

Q5. How can I learn about the basics of investing?
A. Visit http://www.cbussuper.com.au/ to find out more about getting started with Self-Select. We recommend you do your homework and research the companies you would like to invest in by using the information available on our website and in other sources, such as newspapers, company websites and the ASX website. You should also consider consulting a licensed financial planner. If you would like to be put in touch with a financial planner who is paid a wage, not a commission give us a call.

Q6. How can I better understand my attitude to risk?
A. Consider your investment risk profile, that is, your attitude to risk and return when investing. Complete our online risk profiler at http://www.cbussuper.com.au/ to help you understand the type of investor you are. You should also consider consulting a licensed financial planner. If you would like to be put in touch with a financial planner who is paid a wage, not a commission give us a call.

Q7. Where can I get information on the performance of the fund?
A. Performance figures are updated each week on the Cbus website, alternatively you can call our Customer Service Centre. You will also receive a Cbus annual report containing a review of the operations of Cbus - you can access the latest annual report online at any time or through calling our Customer Service Centre.

Q8. Why should I consolidate my super?
A. On average, Australians change jobs every 6 or 7 years. This means that over your working life you could accumulate a number of superannuation accounts. Consolidating into one account can be an easy and cost effective way to look after your super. By doing this you will reduce your paper work and you may save on fees.

Q9. Why are there ‘diversification rules' on this product?
A. Diversification is a tool that helps to reduce the risks of investing. In simple terms, diversification means ‘not putting all your eggs into one basket'. As the value of the various assets can rise and fall at different times, it's a good idea to spread your investment across a range of asset classes to reduce the overall risk in your portfolio. Diversification generally reduces the likelihood of any single asset class adversely affecting the value of your overall investment portfolio. The Trustee has introduced diversification rules into this product to ensure that your investment risk is spread across the asset classes.

Q10. How do I nominate a tax file number?
A. If you want to notify us of your Tax file Number download, print, complete and return by mail or fax the change of details form which is found on our website. Alternatively, you can call Cbus Customer Service Centre on 1300 790 399 to have the relevant form sent to you.

Q11. How do I get the necessary information to pay money to my account via BPAY?
A. BPAY is a method of making payments to your account via the Internet or telephone banking. You can do this by using your financial institution's Internet or telephone banking service to make a payment from your bank account to your Cbus account at any time. If you wish to make payments via BPAY you will need to call our Customer Service Centre, and we will provide you with all the information that you need. You will also need to check with your financial institution to confirm that you have access to make payments via BPAY.

Q12. How do I claim my benefits?
A. Superannuation: if you are withdrawing your superannuation, you will need to speak with one of our Customer Service Representatives to determine what type of withdrawal you are making (eg. retirement, financial hardship).

Insurance: if you need to make a claim on your insurance, please call our Customer Service Representatives who can provide you with the information and documents you will require.

Q13. What do I do if I have a complaint?
A. Cbus strives to provide good service for every member. However, if you are dissatisfied with any aspect of the Fund, you can lodge a complaint by writing to:

The Complaints Officer
Cbus
Locked Bag 900
Carlton South VIC 3053

Your complaint will be genuinely considered and dealt with within 90 days. If you are not satisfied with your Cbus' response, you may be able to take your complaint to the Federal Government's independent Superannuation Complaints Tribunal (SCT).

The SCT will only deal with your complaint if you have already approached Cbus and the tribunal will first attempt to resolve the matter through conciliation. If conciliation is unsuccessful, the complaint will be formally referred to by the tribunal for determination. You can ring the SCT on 1300 780 808 from anywhere in Australia for the cost of a local call.

Before making a complaint to the SCT, you should ring them or visit http://www.sct.gov.au/ to determine whether they can handle the complaint and what information you need to provide. The address is:

Superannuation Complaints Tribunal
Locked Mail Bag 3060
GPO Melbourne VIC 3001

If your complaint relates to advice you were given by Cbus on a non-superannuation product and your complaint is not resolved through Cbus' internal complaints process within 45 days, you may take your complaint to the Financial Industry Complaints Service (FICS). FICS can be contacted on 1300 780 808.

Q14. Is there a cooling off period?
A. After you become a member of Cbus Self-Select, you have a 14-day 'cooling off' period during which you can cancel your membership and recover your contributions.

The cooling-off period applies from the earlier of:

the day you receive confirmation of your membership in the Fund; or
5 days after you acquire an interest in the Fund

Any request to cancel membership should be made in writing to the Trustee at:
Cbus
Locked Bag 999
Carlton South VIC 3053

Cbus levies no charges if membership is cancelled during the 'cooling-off' period. Any tax already paid by the Trustee in respect to these contributions may need to be claimed back from the Australian Taxation Office. Should you cancel your membership during the 'cooling off' period, your contributions will be adjusted to take into account any increase or decrease in the value of the Fund's investments and any tax payable by the Trustee as a result of your membership.

Any preserved or restricted non-preserved benefits rolled over into your account will have to be transferred to another regulated superannuation fund, approved deposit fund, retirement savings account or annuity of your choice. This is a Government regulation - preserved benefits cannot be paid in cash.

Investing with Self-Select

1. I want to invest in the Diversified option. How much of my account balance can I invest?
2. I want to invest in the asset class option. How much of my account balance can I invest?
3. What are the eligibility criteria for investing in the Australian Shares (ASX100) Option?
4. What are my stock options?
5. I want to invest in the Australian Shares Option. How much of my account balance can I invest?
6. What happens if I don't have $50,000 in my account yet?
7. If I purchase or sell stocks when do they actually trade?
8. How much must each instruction to buy or sell a share be?
9. Under what name are my stocks registered?
10. How do I buy or sell shares?
11. Will I be charged brokerage when I buy or sell stocks?
12. How can I get more help?

Note: for full details about the operation of your account please refer to the Cbus Self-Select PDS.

DIVERSIFIED OPTION
Q1. I want to invest in the Diversified option. How much of my account balance can I invest?
A. You can invest a total of 100% of your account balance in the Diversified Option.

ASSET CLASS OPTION
Q2. I want to invest in the investment manager option. How much of my account balance can I invest?
A. You can invest a total of 100% of your account balance with any one or more of the Asset Class Options.

AUSTRALIAN SHARE (ASX100) OPTION
Q3. What are the eligibility criteria for investing in the Australian Shares (ASX100) Option?
A. To be eligible to invest in the Australian Shares (ASX100) Option, you must have already qualified for Self-Select (your account balance must have been at least $50,000), and you must still have a $20,000 balance in your account.

Q4. What are my stock options?
A. You can choose to invest in any one of the top 100 stocks (by market capitalisation) listed on the Australian Stock Exchange (S&P/ASX100). The list of shares is updated and published quarterly on our website.

Q5. I want to invest in the Australian Shares Option. How much of my account balance can I invest?
A. You can invest a total of 50% of your account balance in the Australian Shares Option, and a maximum of 12.5% of your account balance in any single share. The value of each of your stocks can increase up to 15% of your total account balance, or 55% of your total account balance in a combination of stocks.

Q6. What happens if I don't have $50,000 in my account yet?
A. The Trustee may have established your account with less than $50,000 because you are waiting for funds to roll into your account from another superannuation fund, or for some other reason you are waiting for funds that will increase your balance to the required $50,000. If within 3 months of joining Self-Select your account balance hasn't reached $50,000 the Trustee has the discretion to transfer your account to Cbus Industry Super, Personal Super or Self-Employed Super. Transactions cannot be performed on your account (eg. buy or sell shares, switch between investment options) until the minimum $50,000 balance eligibility criteria has been met.

Q7. If I purchase or sell stocks when do they actually trade?
A. Trading of shares will take place weekly on Monday, or the next business day if trading does not take place on the Monday (for example, if the markets are closed or trading in the particular stock is suspended). Cbus must receive all paper-based instructions to buy or sell stocks by 1pm (EST) on the Friday before the next trade day. Instructions to buy and sell stocks made via the Cbus member website ‘SuperSite' must be received by Cbus before midnight on the Sunday before the next trade day.

Q8. How much must each instruction to buy or sell a share be?
A. Each instruction to buy or sell stocks must be at least $1,500 in value. A stock purchase can only be made in actual units of stock. The dollar value will be calculated from the number of units bought using the unit price of the stock at the time of purchase.

Q9. Under what name are my stocks registered?
A. All shareholdings will be registered in the name of ‘National Nominees' - as custodian for the fund.

Q10. How do I buy or sell shares?
A. Instructions to buy or sell shares must be made via the Cbus member website, SuperSite, or by sending a ‘Member Investment Choice' application form via mail or fax.

Q11. Will I be charged brokerage when I buy or sell stocks?
A. Brokerage will be charged to members when they buy or sell stocks. Brokerage costs are available in the Self-Select PDS, which is available online or through our Customer Service Centre.

Q12. How can I get more help?
A. The ASX offers a number of free online classes that allow you to work through comprehensive investment material at your own pace. A series of interactive exercises will aid your learning and a quiz at the end of each section will assess your progress. Visit http://www.asx.com.au/ for more information. If you require more information about the operation of the Australian Shares (ASX100) Option call our Customer Service Centre.

Operating your account online

Q1. How do I get online access?
Q2. What kind of information is available to me online?
Q3. How secure is my online access?
Q4. How do I submit my share options online?
Q5. How can I find out more about online access (SuperSite)?

Q1. How do I get online access?
A. You can register for online access (SuperSite) by calling our Customer Service Team on 1300 790 399 during business hours. Have your membership number ready when you call, and we will issue you with your PIN and help you set up your online access.

Q2. What kind of information is available to me online?
A. At SuperSite, you can:

Access information about the total value of your investments with Cbus
Access an account summary, including the investment options in which you are invested
Nominate changes to your investment strategy (switch investment options)
Notify us of buy/sell transactions on your Australian Shares (ASX100) Option
Access a recent transaction summary
Access your insurance details
Access and make changes to your current contact details

Q3. How secure is my online access?
A. Your online account facility is very secure. It is hosted within a secure session when all data transmitted is encrypted, allowing maximum protection. Each session will automatically time out after a period of inactivity.

Q4. How do I submit my share options online?
A. You will need to enter your membership number and PIN to transact online. Contact Cbus' Customer Service Centre on 1300 790 399 if you do not have access to your membership number and PIN. You can also request and complete a Member Investment Choice form. Detailed information about transacting online is available on our website.

Q5. How can I find out more about online access (SuperSite)?
A. If you would like access to your Cbus account online, please call one of our Customer Service Representatives on 1300 361 784 who can provide you with a login and PIN for your online account access to SuperSite. You can also call our Representatives if you need any information on the use of SuperSite, or you need to have your PIN reissued.