I was an EISS Super member
Was I sent any communications to show that my account was transferred to Cbus Super?
EISS Super sent you an exit statement in May 2023 showing your final account balance (which was transferred to your new Cbus Super account) and any transactions made from 1 July 2022 up until the merger date.
What changes were made when my EISS Super account transferred to Cbus Super?
- Your member number changed and you log into your online account through the Cbus Super website
- Your employer now makes 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, investments and insurance arrangements that you should be aware of.
For full details of the changes, please read your significant event notice that EISS Super sent to you in March. For details about fees and costs for your Cbus Super account in our fact sheet (this includes the details for all investment options and how and when they’re charged).
What has stayed the same with my Cbus Super account?
- If you nominated a beneficiary, your beneficiary arrangements were transferred to your new Cbus Super account
- Your power of attorney (if you had one) was transferred to your new Cbus Super account
Is there a Cbus Super mobile app?
Yes, the Cbus app lets you manage everything about your super quickly and easily on the go. You can download it from the App Store or Google Play.
Your welcome letter from us included your new member number for accessing your online account and the Cbus app. If you can’t find your letter, you can call our helpline on 1300 361 784 to ask for your member number.
What fees do I pay with Cbus Super?
How is my new Cbus Super account invested?
The former EISS Super and Cbus Super investment options were not identical. So when your account balance was transferred to Cbus Super, it was invested in the investment option or options that most closely matched your prior EISS Super investment choice.
If you were previously invested in the EISS Super Conservative or Conservative Balanced option, your investment was transferred into two different Cbus Super investment options as shown in the table on page 9 of your significant event notice.
These new options will also be where any future contributions made to your account will be invested unless you make changes to your investments.
Where can I find more information about Cbus Super’s investment options and performance?
Can I change my investment options?
Yes, you can choose to stay with your current investment option(s) or change options.
Cbus Super offers more investment choice than EISS Super did, so you now have access to more investment options in which to invest your account. Read pages 10 to 11 of your significant event notice for details.
You can change the investment options for your account in two ways. One is to change which option(s) your whole account is invested in, another is to change how you direct your future contributions.
More information is available online in our How do I change my investment options? webpage.
Has my insurance changed?
If you had insurance cover with EISS Super on 11 May 2023, you’ll continue to have at least the same dollar amount of cover now you have transferred to Cbus Super. EISS Super calculated insurance differently to Cbus Super, so you will likely see some changes in your account.
When your EISS Super account was transferred, your death and total and permanent disablement (TPD) insurance cover was recalculated into the equivalent units of cover at Cbus Super (and if necessary, rounded up to the nearest full unit). This approach made sure you got at least the same dollar amount of total cover at the time of transfer.
You can read more about your insurance cover after the merger on pages 12 to 17 of your significant event notice. More details of insurance cover with Cbus Super are available on our Insurance webpage and in our Industry Super Death and Disability Insurance Guide and Income Protection Guide.
Have my insurance premiums changed?
Yes, most premiums have changed. At Cbus Super, your premiums depend on your level of cover, your age, and your occupation category.
For more information, please read pages 12 to 14 of your significant event notice. You can find details of your new premiums using the links below.
Members who are now in the electech utilities occupation category
You’ll be charged limited offer premiums — see our electech utilities rates sheet to check your new premiums.
Members who are now in the non-manual and professional occupation categories
You’ll be charged the Cbus Super premiums – see pages 32 to 33 of our insurance guide to check your new premiums.
Members who have Income Protection (Salary Continuance) Insurance
You’ll be charged the Cbus Super Income Protection cover premiums – see our Income protection guide to check your new premiums.
Has my occupation category/classification changed?
Cbus Super works out some occupational classifications differently to how EISS Super did. This means your current occupational classification may have changed, as below:
|EISS Super occupation classification on 11 May 2023||Cbus Super occupational classification from 12 May 2023|
Heavy manual skilled
Heavy manual unskilled
Electech Utilities (for Death and TPD cover)
Electech (for Income Protection cover)
Please see page 13 of your significant event notice for more details on occupational classifications and they affect you.
Were there extra changes if I moved to the electech utilities occupational classification?
If you had insurance cover on 11 May 2023 and your new occupational classification is ‘electech utilities’, you’re eligible for limited offer Death and total and permanent disablement (TPD) premium rates until at least 30 June 2024. After this period, you’ll move to the standard Cbus Industry Super electech premiums (like other Cbus Super members).
The limited offer Death and TPD premium rates are broadly based on what were EISS Super’s default premium rates, which were different to our standard ‘electech’ rates. If you change (increase or decrease) your level of cover, you will continue to pay the limited offer rates until at least 30 June 2024.
See our electech utilities rates sheet for more details of the costs and cover per unit for this classification.
What happened if I had an insurance claim in progress?
If you were receiving Salary Continuance Insurance benefit payments before the merger, you continued to receive these payments from the insurer, provided you continue to meet the terms and conditions for payment.
If you had a terminal illness or TPD insurance claim in progress, or you are a dependant who was making a claim for a member’s death benefit, your claim was transferred to Cbus Super, and continued to be processed.
If you would like an update on your claim, please contact us on 1300 722 152.
If you want to make a new claim, contact our Claims Team on 1300 722 152.
Can I change my insurance cover?
Yes. You can change your insurance cover at any time by logging into your new Cbus online account or by calling us on 1300 361 784. Any changes you make to your insurance cover will be subject to our processes.
- You can make most changes to your cover through your online account
- You can have different amounts of Death and TPD cover
- To increase your cover, you may need to undergo health checks
- You can read more about insurance with Cbus Super and how to change your cover on our Insurance options webpage
You can also call Cbus Advice Services on 1300 361 784 and we can help you work out whether you should change your cover.
Has my Salary Continuance (Income Protection) insurance changed?
At EISS Super you could have held Salary Continuance Insurance in multiples of $100 per month with a minimum amount of cover of $1,000 per month and a maximum of $25,000 per month.
At Cbus Super we call this ‘Income Protection’ cover and use units of cover with each unit giving you $100 per week of cover.
If you had Salary Continuance Insurance, you may see a change to your waiting period and/or payment period. This is because Cbus Super doesn’t offer a 60-day waiting period or a ‘to age 65’ payment period.
Please see pages 12-14 of your significant event notice for more details of how your Salary Continuance Insurance may have changed after the merger.
Are there changes to my insurance now it’s with Cbus Super?
The insurance terms and conditions you would have had with EISS Super are different to those you have with Cbus Super. Now that the funds have merged, insurance terms and conditions for Cbus Super will apply.
You can find more information in our Industry Super Death and TPD insurance guide and Income protection guide.