I was an EISS Defined Benefit Scheme member
Did the merger affect my Defined Benefit Scheme entitlements?
No. Your member entitlements through the Defined Benefit Scheme are not affected. And there is no change to how your benefit or pension is calculated.
Was I sent any communications to confirm my account was transferred to Cbus Super?
EISS Super sent you a final statement in May 2023 showing the value of your benefit entitlements at the time of the transfer and any transactions made from 1 July 2022 up until the merger date.
If you started receiving your pension before the merger, you were sent a letter confirming the details of your pension that was transferred to Cbus Super.
What changes were made when my EISS Super account transferred to Cbus Super?
- You log into your online account through the Cbus Super website
- Your employer will make super contributions to Cbus Super
- You’ll need to set up a new third party authority with Cbus Super (if you want one in place)
- Your BPAY details changed
- You have more ways to make contributions
- Your contact details were transferred (including email address) however your communications preferences (e.g. whether you like to receive things like statements, important updates and marketing by email or post) didn’t transfer across.
There are also some changes to fees and investments that you should be aware of.
What stayed the same with my Defined Benefit Scheme account?
- Your member number and entitlements are the same. (For a small number of members, member numbers had to be changed with a letter added. This change was explained in welcome letters to affected members)
- Beneficiary arrangements were transferred to your Cbus Defined Benefit Scheme account
- Your power of attorney (if you had one) transferred to your new Cbus Defined Benefit Scheme account.
Do I need to provide my employer with my new Cbus Super details?
You shouldn’t need to do anything, as we’ve let employers know. However, if your employer asks, our USI for the Cbus Defined Benefit Scheme is 75 493 363 262 003
Is there a Cbus Super mobile app?
There isn’t a Cbus app for your account, but you can manage everything for your super on the go through your Cbus online account.
Your welcome letter from us included instructions for accessing your online account.
Alternatively, you can call our helpline on 1300 361 784 for access details.
What fees do I pay with Cbus Super?
For full details about the fees and costs for your Cbus Defined Benefit Scheme account, please read the PDS.
Note: As a Defined Benefit Scheme member, you pay lower fees at Cbus Super because you don’t pay any administration fees and costs. Other fees and costs only apply to the accumulation components of your account. For contributory members, that is your Personal Account and Other Contributions Account. If you’re a deferred member, they apply to your full account balance.
What’s happening with my investments?
At EISS Super, the Defined Benefit Scheme offered the Defined Benefit Selection investment option, which invested in multiple asset classes. Now the merger has taken place, your investments are invested in the Cbus Defined Benefit investment option. This new option also invests in multiple asset classes.
Visit cbussuper.com.au/db-saa for information on the strategic asset allocation of the new Defined Benefit investment option.
What happens if I have a current claim in progress?
If you had a claim in progress before the merger or you are a dependant who was making a claim for a member’s death benefit, your account balance will have been transferred to Cbus Super and your claim will have continued to be processed.
If you would like an update on your claim or to make a new claim, please contact us on 1300 722 152.