CBUS Vs Australian Super – Our Expert Pick for 2023
Choosing a superannuation fund is an important decision that can impact your financial future. Two of the most popular options in Australia are CBUS and Australian Super. In this blog, we’ll compare and contrast these two funds, examining their similarities and differences, user reviews, and more, to help you make an informed decision.
CBUS Overview
CBUS is a super fund specifically designed for workers in the building, construction, and allied industries. Established in 1984, CBUS has over 800,000 members and more than $50 billion in assets under management. The fund offers a range of investment options, including diversified, growth, and conservative portfolios, as well as a range of insurance options.
Australian Super Overview
Australian Super is one of the largest industry super funds in Australia, with over 2.3 million members and over $200 billion in assets under management. It offers a wide range of investment options, including a socially responsible investment option, and a range of insurance options, including income protection, life insurance, and total and permanent disability (TPD) cover.
Similarities between CBUS and Australian Super
Both CBUS and Australian Super are industry super funds, meaning they are owned by their members rather than shareholders. They both offer a range of investment options and insurance options to their members. They also both have low fees and strong long-term performance records.
Differences between CBUS and Australian Super
- One of the main differences between CBUS and Australian Super is their target market. CBUS is designed specifically for workers in the building, construction, and allied industries, while Australian Super is open to all Australians. CBUS also has a smaller membership base and lower assets under management than Australian Super.
- Another difference is the range of investment options available. While both funds offer a range of options, CBUS has a narrower range of investment options than Australian Super.
- CBUS also places a stronger emphasis on investing in infrastructure and property, whereas Australian Super has a wider range of investment options, including international shares.
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Table of Comparison – CBUS Vs Australian Super
To summarise the similarities and differences between these 2, here is a table of comparison:
| Features | CBUS | Australian Super |
|---|---|---|
| Membership base | Building, construction, and allied industries | Open to all Australians |
| Assets under management | Over $50 billion | Over $200 billion |
| Investment options | Diversified, growth, conservative, infrastructure, property | Wide range, including socially responsible investment option, international shares |
| Insurance options | Range of options available | Income protection, life insurance, TPD cover |
| Fees | Low | Low |
| Long-term performance | Strong | Strong |
User Reviews
To get a sense of what actual users think about these two funds, we looked at reviews on ProductReview.com.au, a popular review platform in Australia.
- CBUS has a rating of 3.8 stars out of 5, based on over 400 reviews. Many reviewers praised CBUS for its strong long-term performance and low fees, but some also noted issues with customer service and difficulty accessing their accounts online.
- Australian Super has a rating of 3.6 stars out of 5, based on over 700 reviews. Many reviewers praised the fund for its low fees, strong returns, and easy-to-use online portal, but some also noted issues with customer service and difficulties with insurance claims.
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Conclusion – Which Superannuation Fund is Better For You?
Both CBUS and Australian Super are strong superannuation fund options in Australia, with low fees, strong long-term performance, and a range of investment and insurance options. CBUS is designed specifically for workers in the building, construction, and allied industries, while Australian Super is open to all Australians and has a wider range of investment options. When choosing between these two funds, it’s important to consider your personal circumstances and investment goals.
If you work in the building, construction, or allied industries, CBUS may be the better choice for you, as it is specifically tailored to your industry. However, if you’re looking for a fund with a wider range of investment options, including socially responsible investment options and international shares, then Australian Super may be the better choice.
Ultimately, the best superannuation fund for you will depend on your individual circumstances, so it’s important to do your research, compare your options, and consider your long-term investment goals before making a decision. Visit ThinkMoneyTrader for more financial bytes like this.
