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.
The 920,000-odd members of industry superannuation fund Cbus may have been alarmed by reports of links to militant unions and failures of governance.
Ideally, super should be boring. Regular contributions, reasonably low fees, a carefully calibrated mix of assets and compounding should come together to produce a magic pudding of retirement savings that grow nicely over time. But at Cbus, a $94 billion fund which draws many of its customers from the construction industry, things are disconcertingly tumultuous.
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Michelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com
