Target Market Determinations
The Target Market Determinations for superannuation products issued by Cbus are published below. Target Market Determinations aren’t relevant for members in defined benefit products, including the Cbus Retirement Scheme and Cbus Defined Benefit Scheme.
What’s a Target Market Determination?
A Target Market Determination (TMD) describes the appropriate target market for a financial product and conditions around how the product can be distributed to consumers. It also details the circumstances where we may need to review the Target Market Determination for a superannuation product.
Why does Cbus need to have Target Market Determinations?
By law, we’re required to have a Target Market Determination for each of our products which are covered under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.
This is to ensure that we design products that are appropriate for the consumers in the target market and consistent with their objectives, financial situation and needs.
- Cbus Industry Super TMD - describes the target market for those employees who intend to receive super contributions from their employer who want to join Cbus.
- Cbus Corporate Super TMD - describes the target market for those joining this product through their eligible Cbus employer.
- Cbus Sole Trader Super TMD - describes the target market for sole traders who are making their own super contributions who want to join Cbus.
- Cbus Personal Super TMD - describes the target market for those who are not currently working or who are not receiving super contributions from an employer who want to join Cbus.
- Cbus Super Income Stream TMD - describes the target market for those who are retired or transitioning to retirement and looking to receive their superannuation as regular income payments from Cbus.