Cbus Super Review 2026 — Fees, Performance, and Insurance
This article provides general information only and does not constitute financial advice. For advice tailored to your situation, consult a licensed financial adviser. Learn more.
Contents
Cbus (Construction and Building Unions Superannuation) is the industry super fund for Australia’s construction, building, and allied industries. It manages over $100 billion for approximately 900,000 members, and is particularly known for its strong long-term investment returns.
This review provides general information only and is based on publicly available data. It is not a personal recommendation.
Cbus at a Glance
| Feature | Details |
|---|---|
| Fund type | Industry fund (profit-to-members) |
| Target industry | Construction, building trades, allied industries |
| Members | ~900,000 |
| Funds under management | ~$100+ billion |
| Default option | Growth (Cbus MySuper) |
| Regulated by | APRA, ASIC |
Fees — Cbus Super
| Fee Type | Approximate Amount |
|---|---|
| Administration fee | $1.75/week (~$91/year) flat |
| Investment fee | 0.38–0.55% of balance |
| Indirect cost ratio | 0.10–0.15% |
| Total fee (example: $50k Growth default) | ~$400–$520/year (~0.80–1.04%) |
Fees are mid-range among industry funds — somewhat higher than the lowest-cost providers (Hostplus index, Vanguard) but in line with most large industry funds.
Investment Performance — Growth (MySuper Default)
Cbus’s default Growth option has been consistently top-ranked by both APRA and independent researchers including Chant West.
| Period | Approximate Annual Return (Growth) |
|---|---|
| 1-year (FY2024–25) | ~9–11% (indicative) |
| 5-year average | ~7–9% per year |
| 10-year average | ~8–10% per year |
Cbus has historically been one of the top-5 performing growth/MySuper options over 10 years, largely driven by significant allocations to unlisted infrastructure and property — assets that have performed strongly while listed markets were volatile.
Past performance is not a reliable indicator of future performance.
Investment Options
| Option | Approx. Growth Assets | Risk Level |
|---|---|---|
| High Growth | ~95% | Very High |
| Growth (default) | ~80% | High |
| Conservative Growth | ~65% | Medium |
| Conservative | ~40% | Low–Medium |
| Cash | ~0% | Very Low |
Cbus also offers indexed options at lower cost for members who prefer passive management.
Insurance — Cbus Super
Insurance is a core feature for construction industry workers, who face elevated risk of workplace injury:
| Cover Type | Default Cover |
|---|---|
| Life (death) cover | Yes — units of cover, age-based |
| Total and Permanent Disability (TPD) | Yes — “own occupation” definition for most members |
| Income Protection | Yes — 52-week benefit period, 30-day waiting period (for eligible members) |
Key distinction: Cbus offers “own occupation” TPD for many member categories — this is more generous than the “any occupation” definition used by many other funds. It means you may be eligible for a TPD claim if you can’t work in your specific trade, even if you could theoretically do other work.
Construction workers should carefully review whether their income protection cover suits their situation — particularly the benefit period and waiting period.
Who Is Cbus Best Suited To?
Cbus is a strong option for:
- Construction, building, and allied trade workers
- Members who value “own occupation” TPD cover relevant to physical trades
- Members who want top-tier historical investment performance in a large, well-managed fund
- Members comfortable with significant unlisted asset exposure in their default option
Members outside the construction sector can also join Cbus as a “choice” member — however, insurance cover and eligibility conditions may differ.
Frequently Asked Questions
Can I join Cbus Super if I don’t work in construction? Yes — Cbus is open to all Australians as a choice member, not just construction workers. However, insurance cover and terms may differ for non-construction members. The default insurance is designed for the construction industry (e.g., own-occupation TPD definitions relevant to trades) — members from other industries should review whether the insurance suits their circumstances.
What is Cbus’s exposure to unlisted infrastructure and property? Cbus’s Growth (default) option maintains a significant allocation to unlisted assets — infrastructure, property, and private equity. This is a hallmark of several large industry funds. Unlisted assets are valued periodically (not daily like listed shares), which can reduce apparent volatility in the fund’s reported returns but may not reflect real-time market conditions. The long-term performance of Cbus’s unlisted asset exposure has been a key driver of its historically strong returns.
Has Cbus passed the APRA performance test? Cbus has consistently passed APRA’s annual performance test. Check the ATO’s YourSuper tool (ato.gov.au/yoursuper) or APRA’s website for the most current annual results. The performance test assesses 8-year net returns against a benchmark derived from the fund’s own asset allocation.
What is Cbus’s governance structure? Cbus is a profit-to-members industry fund. Its board of trustees has equal representation from employer organisations (construction and building industry employer bodies) and employee organisations (unions in the construction sector, primarily CFMMEU). This equal representation model is typical of large industry funds and means no single group controls the fund.
What is Cbus’s stance on climate and ESG investing? Cbus has made public commitments around responsible investment, including net-zero portfolio targets. As a fund with significant exposure to the construction industry (which builds both fossil fuel and renewable energy infrastructure), Cbus has navigated ESG questions carefully. The fund discloses its ESG approach in its annual sustainability report at cbussuper.com.au. Members who want more explicit ESG screening should compare Cbus’s approach with dedicated ethical super options.
If I leave a construction job, does my Cbus account close? No — your Cbus account remains open regardless of whether you are still employed in the construction industry. Contributions stop if your new employer directs SG to a different fund (unless you choose to keep Cbus as your nominated fund), but your existing balance continues to be invested and will grow or decline with investment returns. You can roll your balance out of Cbus at any time or keep it there in retirement.
For further comparisons: Best Super Funds Australia, AustralianSuper Review, Aware Super Review. For advice tailored to your situation, speak with a licensed financial adviser through MoneySmart.