This Month
- Opinion
- Chanticleer
Cbus must heed its last warning, or risk a crisis
APRA’s concerns have echoes of scandals in the banking sector, the casino industry and at PwC. The fund must act to fix its risk and operational weaknesses.
- James Thomson
- Updated
- Superannuation
APRA to investigate Cbus spending amid governance concerns
The prudential regulator repeatedly warned the industry fund that it had failed to fix risk management issues and will now investigate payments to its union backers.
- Updated
- Lucas Baird
Wayne Swan, Cbus still won’t answer the question
The Labor powerbroker and Cbus chairman and Liberal Senator Andrew Bragg seem at odds on what constitutes an answer to a question on notice.
- Hannah Wootton
Revealed: Cbus’ secret governance report details deep union ties
Commissioned in 2015, the review found the super fund was reliant on the CFMEU to enforce the payment of super in a difficult industry, creating big risks.
- Lucas Baird
January
‘Weak’ scam protections put trillions of super money at risk
Superannuation funds have been warned they are at risk of becoming “soft targets” for scammers.
- Joanna Mather
Cbus hits ‘sweet spot’ as it surpasses $100b in assets
The construction industry superannuation fund reached the milestone despite a “blip” in November and December when it faced regulatory and political pressure.
- Jonathan Shapiro
Big super to keep pushing companies on climate
New climate disclosure laws mean even retail super funds will engage with companies on climate this year. Poor workplace safety and governance is also a concern.
- Hannah Wootton
Super admits its size is a risk but says ‘what is the alternative?’
The managers of Australia’s $4.1 trillion retirement savings pool say they are best placed to invest in banks and private lending despite warnings from the RBA and IMF.
- Hannah Wootton
Top super investors dash pre-election rate cut hopes
But they say investors should be optimistic about inflation easing despite later cuts and risks associated with Donald Trump taking the White House.
- Hannah Wootton
Prudential watchdog must release secret Cbus review: advice
New advice from the clerk of the Senate argues APRA has no grounds to keep the critical review secret from parliament.
- Lucas Baird
December 2024
Super boards, executives failing on unlisted asset valuations
The regulator demanded funds sharpen their review processes, warning it will not hesitate to take further action and may pursue individuals.
- Hannah Wootton
Cbus says $387,000 birthday party was in members’ interests
The industry fund used money earmarked for staff professional development to host a 40th birthday bash for more than 750 guests
- Hannah Wootton
ASIC sues Rex; ‘Australia needs a DOGE’; Trump launches perfume
Read everything that’s happened in the news so far today.
- Opinion
- Super wars
Deloitte gave industry super governance a big tick
The report into Cbus’ fit and proper processes dispels assertions that the equal representative model is a barrier to funds getting the skills and expertise needed to govern these large financial institutions.
- Ann Sherry
- Opinion
- Chanticleer
Global super giant finds Aussie beachhead at MLC
This is a deal like few others – big on employees and software, light on cash. The bigger thing is what it could do for Australia’s superannuation sector.
- Anthony Macdonald
- Exclusive
- Shopping centres
Dexus appeals forced sale of $830m Macquarie Centre stake
Dexus is disputing a court decision that requires one of its managed funds to sell a half stake in the Sydney shopping mall to its co-investors.
- Campbell Kwan
Greens the worst political performers of 2024: AFR readers
The Greens have been judged the worst-performing party by readers of The Australian Financial Review, who criticised its MPs for obstructing parliament.
- Tom Rabe
Want out of Cbus? Here’s how to pick a good super fund
Cbus, the industry super fund chaired by former Labor Treasurer Wayne Swan, has been in the headlines for all the wrong reasons. If you’re thinking about running for the exits, here are some key considerations and options.
- Michelle Bowes
Victoria’s asset sale; MinRes’ gag request; Wesfarmers’ rates alert
Read everything that’s happened in the news so far today.
Big super reckoning: what the Cbus woes mean for industry funds
This week on The Fin podcast, James Thomson and Hannah Wootton on the case against the firm, what it means for industry funds and why the “super wars” are back.