Media Super merging with Cbus tomorrow

The print industry’s super fund Media Super will complete its long-planned merger with Cbus tomorrow, with some $7bn in member funds transferring over to the much larger fund.

The merged fund will have $70bn in assets, and manage the retirement savings of around 850,000 members. The deal has been two years in the making.

Media Super members have enjoyed stellar returns over the past decade, its MySuper 8.48 per cent ten-year average return is among the best in the field, but the good news is that Cbus members have done even better, its MySuper for the past ten years is 9.55 per cent, with Cbus delivering a record-breaking 20.3 per cent return in 2020/21.

The print sector makes up the biggest part of the Media Super membership, although not all printers are members of the fund. Cbus has about ten times the assets of Media Super. The merger is a result of the government imperative to reduce the number of smaller funds.

Media Super members, which includes much of the print industry, have been on a Limited Service Period from Sunday, which will remain until 26 April, when full service resumes. All Media Super members should have received communication from Media Super in regard to the LImited Service Period.

Media Super will continue to have its own brand within Cbus, and its own sub-committee, and, says the fund will continue to support the print industry. Media Super is a major supporter, and sponsor, of various awards and events, including the National Print Awards and Print2Parliament, and supports emerging young people in various ways.

Media Super came into existence in 2008 when Print Super merged with Just Super. Gerard Noonan, chairman of Just Super since 1991, became chairman of the merged entity.