The Wayne Swan-chaired Cbus has broken ranks with its industry superannuation fund peers to warn Treasurer Jim Chalmers against further changing the controversial annual performance test, despite heavy lobbying from the $3.5 trillion sector for reform.

The construction industry fund said it was “almost impossible to produce a flawless test”, so the government should stick with the current regime introduced as part of the Your Future, Your Super legislative changes, as it does “a reasonable job” and at least gave funds certainty.