Cbus backs government crackdown on dodgy super spruikers
10 December 2025
Media release
Cbus Super will work with the Australian Government to support its commitment to creating a stronger, safer retirement system.
The Fund has been a vocal advocate for changes to the superannuation system to crackdown on lead generators and ensure all products meet consistent standards.
Cbus Super CEO Kristian Fok said the Fund would push for strong reforms to safeguard the savings of its more than 900,000 members.
“We’ve been really clear about the need for a more contemporary and resilient framework to protect people from these predatory and high-pressure sales tactics,” he said.
“We will continue to advocate for our members and for everyday Australians to protect what they’ve earned and maintain trust in the compulsory superannuation system.
“As long as there are gaps in the system, Australians’ retirement savings will be at risk from unscrupulous operators.”
Cbus members are increasingly being targeted through social media, where clicking a video and completing a free survey can lead to high-pressure sales calls masquerading as legitimate financial advice.
In their own words Cbus members have described the tactics of pressure and confusion these dodgy operators deploy:
“If you say you're not interested you get another call the next day by someone else…they keep calling you back until you give in, and before you hang up they ask you a million questions… you hear a lot of people getting scammed like this… and they keep pushing you until you break,” Cbus Super member, 36.
“Very full on at the start, but once you signed up that was it… they were hard to find after that one,” Cbus Super member, 56.
The Government’s proposed changes must outlaw these tactics to protect Australians from financial harm.
We will work with the Government to:
- crackdown on predatory and misleading super sales
- strengthen member protections and ensure all products meet consistent standards
- improve transparency and future proof the system.
“The collapse of First Guardian and Shield Master funds this year left over 11,000 Australians who invested $1.2 billion facing an uncertain financial future,” Mr Fok said.
“Many were lured into these super products by these online 'lead generators’.
“We need a united front of funds, regulators, and government working together to ban online lead generators and protect members. Australians deserve a system that safeguards hard-earned savings.”
Media enquiries: media@cbussuper.com.au or +61 3 9100 4930
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 10 December 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.