Cbus welcomes support for high risk workers in insurance changes that passed the Parliament today
Cbus Super, Australia’s leading superannuation fund for the building and construction sector, has welcomed the passing of default insurance changes with exemptions to support workers in high risk and hazardous industries.
Cbus Group Executive Robbie Campo said the fund appreciated the understanding shown by the Government and crossbench Senators to the concerns of workers in hazardous industries.
“Our focus for the last twelve months has been to make sure these changes don’t have unintended consequences that leave construction workers and their families out in the cold in times of tragedy,” Ms Campo said.
“Cbus members rely upon and claim against our insurance that is specifically tailored to the needs of people working in building and construction.
“Senators have understood that different industries have different requirements and we appreciate the deep consideration they have shown through this process.”
“Further amendments (put forward by One Nation) which deferred the date of commencement to 1 April 2020 will also provide much needed time to undertake detailed communications with members to allow them to make informed decisions about their insurance.”
Ms Campo said Cbus looked forward to working with Government and the regulators during implementation of the Bill to make sure that workers who rely upon their cover have it maintained.
“A death or permanent injury is the most stressful thing that can happen to a family,” Ms Campo said.
“The key to success for the new measures is making sure workers most at risk are catered for in the way they are implemented. We are eager to work collaboratively with government and regulators to ensure the intent of the amendments are workable.
“It’s heartening that the Minister made changes to make sure the members most at risk of these tragedies can still be protected.”
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