Redundancy & super

How is my redundancy payment made?

If you are entitled to a redundancy payment, you will have a number of decisions to make. The issues can be complex and it is important to get the appropriate advice. This will include the different payment options, tax implications, Centrelink benefits and superannuation matters to consider. Cbus has a dedicated team that can provide information and advice over the phone. Please call 1300 361 784.

Click here for more information on how tax applies to your redundancy payment and super.

What happens to my super?

You will also need to consider what happens with your superannuation. The good news is that you can continue to keep your super with Cbus between jobs. You may also be eligible to take Cbus with you to a new employer.

Over 55 years of age and considering retirement?

If you become redundant after you have reached your preservation age (55-60 years of age depending on your birth year), you may be able to access your super. You could also benefit from starting a super income stream which can provide you with regular income payments and save you tax. Click here to find out more.

Insurance

The need to plan for the unexpected is an important consideration for all Cbus members. If you have death and permanent disability insurance with Cbus, your cover can continue even after you cease work. For more information, please call 1300 361 784.