Construction and Building Unions Superannuation (Cbus) is one of

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

's largest

public offer A public offering is the offering of securities of a company or a similar corporation to the public. Generally, the securities are to be listed on a stock exchange. In most jurisdictions, a public offering requires the issuing company to publish a ...

industry superannuation fund An industry superannuation fund (or, simply, 'industry fund') is an Australian superannuation fund originally established to provide for the retirement of workers from a specific industry. While industry funds are no longer tied to specific in ...

s. Cbus is run for the benefit of its members and does not pay dividends to shareholders.

History

Established in 1984 for the

construction Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and com ...

building A building, or edifice, is an enclosed structure with a roof and walls standing more or less permanently in one place, such as a house or factory (although there's also portable buildings). Buildings come in a variety of sizes, shapes, and fun ...

and

allied An alliance is a relationship among people, groups, or states that have joined together for mutual benefit or to achieve some common purpose, whether or not explicit agreement has been worked out among them. Members of an alliance are called ...

industries, Cbus now has over 777,000 members with over 450 staff across three states. Cbus has over 136,000 participating

employers Employment is a relationship between two party (law), parties Regulation, regulating the provision of paid Labour (human activity), labour services. Usually based on a employment contract, contract, one party, the employer, which might be a co ...

and manages $46.7 billion of members' funds. Cbus also invests back into the building and construction industry through its $2.8 billion property development company Cbus Property.

Corporate governance

United Super Pty Ltd is the

Trustee Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to t ...

of Cbus Superannuation Fund. The Directors of United Super Pty Ltd are appointed in equal number from member and

employer associations An employers' organization or employers' association is a collective organization of manufacturers, retailers, or other employers of wage labor. Employers' organizations seek to coordinate the behavior of their member companies in matters of mutual ...

in the construction and building industries. An

Independent Director An independent director (also sometimes known as an outside director) is a member of a board of directors who does not have a material or pecuniary relationship with company or related persons, except sitting fees. In the United States, indepe ...

also sits on the board. The current

Chair A chair is a type of seat, typically designed for one person and consisting of one or more legs, a flat or slightly angled seat and a back-rest. They may be made of wood, metal, or synthetic materials, and may be padded or upholstered in vario ...

of the board is former

Premier of Victoria The premier of Victoria is the head of government in the Australian state of Victoria. The premier is appointed by the governor of Victoria, and is the leader of the political party able to secure a majority in the Victorian Legislative Assembly ...

Steve Bracks Stephen Phillip Bracks (born 15 October 1954) is a former Australian politician and was the 44th Premier of Victoria. He first won the electoral district of Williamstown in 1994 for the Labor Party and was party leader and premier from 1999 ...

References

External links

* {{Official website, http://www.cbussuper.com.au/, Cbus Super official website Companies based in Melbourne Superannuation funds in Australia Australian companies established in 1984