Tuesday, April 16th, 2024
MEAA Online

Media Super is a part of Cbus Super, an award-winning industry super fund that represents those who help shape Australia.

Cbus Super was recently given the chance to share their views with the Government on how the superannuation system can best provide the security and income Australians need in retirement.

Together with Cbus Super, we have a decent understanding of the unique challenges you face compared to the general population of the same age.

We know working in the arts industry, you’re more likely to have a non-linear work pattern. The security of booking a job for a long stretch versus more casual or part-time work. That there may be busier times and quieter ones between work. It’s this reality about the retirement phase of superannuation that we’re bringing to the attention of policy makers.

In our submission to Government, we focused on three things:

  1. Lower average retirement savings – Many of our members retire with modest super balances. We’re advocating so our members can get the most out of their super, even with modest balances.
  2. Early and non-linear retirement transition - Retirement doesn’t always come when expected. Some of our members experience a phased retirement whereby they come in and out of the workforce – and the system needs to better support them.
  3. System complexity – the retirement income system can be confusing and is constantly changing. We’re pushing for simpler rules and better support for us.

As an industry super fund, we were founded by hard workers who helped shape Australia and the superannuation landscape we have today. Now, we’re advocating for a better retirement system for the millions of workers in insecure and physically demanding work.

If you’re thinking about retirement and unsure if you’re ready to retire, there’s still a few things you can do today that’ll help you achieve a greater retirement outcome tomorrow. Why not speak to one of our financial advisers who can help your planning, visit mediasuper.com.au/advice to learn more.

Alternatively, we often run retirement education sessions which are full of tips on how to set yourself up for retirement. Book a session today.

This information is about Media Super. It doesn’t account for your specific needs. Please consider your financial position, objectives and requirements before making financial decisions. Read the Employer Handbook, relevant Product Disclosure Statement (PDS) and Target Market Determination to decide what’s right for you. Call 1800 640 886 or visit mediasuper.com.au

United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for the Construction and Building Unions Superannuation Fund ABN 75 493 363 262 offering Cbus Super and Media Super products (Cbus, Cbus Super and/or Media Super).

Media Super is the principal superannuation partner of MEAA Media, MEAA Equity and MEAA Musicians.