Cbus Super welcomes super on Parental Leave Pay scheme commitment

7 March 2024



Cbus Super welcomes the Government’s commitment to pay super on the Commonwealth Parental Leave Pay scheme – a policy that will make a difference to the retirement outcomes for our members and their families with accumulation of super to no longer be interrupted whilst on parental leave.

Cbus Super CEO Kristian Fok in welcoming the announcement said, “We support action in addressing policy challenges where the system still must be strengthened to address women retiring with substantially less super than men and too often retiring with low or non-existent balances.

“Gender equity must continue to improve in our society and our workplaces. Today’s announcement is a key step in delivering solutions to tackle the persistent gap between women and men’s retirement savings and will stop a financial penalty for taking time out of the workforce for caring duties. It is a prime example of how policy settings in the super system can be harnessed to tackle these issues.

“This is the result of advocacy by many organisations and we also congratulate our stakeholders including Women in Super, Super Members Council and the Association of Superannuation Funds of Australia (ASFA) for driving the advocacy on closing the super gender gap.”


Background on Cbus Super internal policies:

Cbus Super has for several years paid super on both paid and unpaid parental leave, addressing the gender gap in super in a model that we would support more business implementing. Cbus contributes superannuation payments to parents on both paid and unpaid leave and allows primary and secondary carers to take paid leave at the same time. This leave is gender neutral.



Media enquiries:

Elisabeth Bowdler – 0412 112 374 or elisabeth.bowdler@cbussuper.com.au

This information is about Cbus and doesn’t take into account your specific needs. You should look at your own financial position, objectives and requirements before making any financial decisions. Refer to Cbus Product Disclosure Statement, Target Market Determination and Financial Services Guide for more information. Contact us or visit cbussuper.com.au for a copy.

Cbus is the leading Industry Super Fund representing those that help build and maintain Australia. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to more than 910,000 members and we manage more than $85 billion of our members’ money (as at 30 June 2023). Our members include workers and retirees, their families and employers. As of April 2022, Cbus merged with Media Super and offers Media Super products. For more than 30 years Media Super has been the industry super fund for Print, Media, Entertainment and Arts, and broader creative industries. 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 7 March 2024, United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as trustee for Construction and Building Unions Superannuation Fund (Cbus Super and/or Cbus) ABN 75 493 363 262.