Campaign to unlock thousands for retiring building and construction workers

20 November 2025
MEDIA RELEASE

 

A new campaign is set to support thousands of retired Australian tradies who could be missing out on close to $900 a week in pension payments as a couple.

Cbus Super, which today manages more than $105 billion of retirement savings for its 925,000 members, has found nine out of ten Cbus members approaching retirement age lack confidence in understanding government entitlements*.

And it’s not just Cbus members missing out with other research showing that a third of Australians delay their Age Pension applications by more than a year or miss out entirely**.

"One in three Cbus members together with their partners could be missing out on up to $46,000 per year through late Age Pension applications, but low confidence and complexity means many are leaving money on the table," said Cbus Super Acting Chief Member Officer Bernie Dean.

“We’re seeing older tradies and construction workers relying on their super too soon, missing out on vital government payments that could help them live more comfortably.”

Many Cbus members nearing retirement have modest super balances — often below $150,000 — because they started work before super was compulsory, faced lower super rates early on, and experienced periods of insecure work or unpaid super. They - like most Australians - will rely on both super and the Age Pension for their retirement income.

To help members get what they’re entitled to, Cbus has launched a targeted campaign providing clear information on available government supports.

"The system is complex, but we're determined to make sure our members don't miss out on money they've earned the right to receive. If you're a former tradie in your 60s, we want you to check your eligibility – you might be entitled to more than you think," Mr Dean said.

 

Campaign’s key findings:

  • One in three Australians could be missing out on up to $46,000 per year as a couple through late Age Pension applications – with many delaying applications by a year.
  • Reducing late applications by just 1% could deliver up to $5.9 million more for Cbus Super members.
  • Members who delay applying for the Age Pension risk losing tens of thousands in income, as Services Australia doesn’t backpay before the application date.
  • Only 36% of Cbus members approaching retirement have a good understanding of age eligibility for the Age Pension.
  • Nine out of ten Cbus members nearing retirement say they lack confidence in understanding government entitlements.

 

The insecure nature of work for tradies and construction workers in their 60s compounds the issue. Analysis shows fewer than four in ten members eligible for the full Age Pension are in full-time work in their 60s, with many in casual, part-time or sole trader arrangements.

"The main reason members tell us they don't retire until 67 is that they cannot afford to retire earlier, as they'll only receive the Age Pension from 67. But many are struggling with insecure work and dipping into their super just to make ends meet," Mr Dean said.

 

In response, Cbus is launching a targeted campaign to reach members at key moments in their lives, including:

  • Tailored communications at ages 57, 66 and 66.75 about Age Pension eligibility plus a reminder at age 68 to those who haven't submitted their application and may be missing out.
  • A new Age Pension calculator that estimates their level and provides information on completing applications. 
  • Information about other government entitlements like JobSeeker and Disability Support Pension.
  • Retirement planning seminars for those with lower super balances.
  • Advice services to help members maximise their pension eligibility.

 

Media enquiries: media@cbussuper.com.au or James Dowling 0429 437 851

 

* Based on a survey of 4000 Cbus members aged over 50

** MUFG, Retirement Reality: Advice and the Age Pension

This information is about Cbus Super. It doesn’t account for your specific needs. Please consider your financial position, objectives and requirements before making financial decisions. Read the relevant Product Disclosure Statement (PDS) and Target Market Determination to decide if Cbus Super is right for you. Call 1300 361 784 or visit cbussuper.com.au.

Cbus Super is the leading Industry Super Fund representing those that help build, maintain and shape Australia. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to more than 900,000 members and we manage more than $105 billion of our members’ money (as at 30 June 2025). As of April 2022, Cbus merged with Media Super and offers Media Super products. In May 2023 Cbus Super successfully completed its merger with EISS Super, welcoming 17,000 new members and establishing itself as the leading fund for energy and electrical workers in Australia.

Issued 20 November 2025, United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as trustee for Construction and Building Unions Superannuation Fund (Cbus and/or Cbus Super) ABN 75 493 363 262.

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