Nominations invited for Member-Elected Director

A vacancy has arisen on the Board of the Trustee of the CBH Superannuation Fund and nominations are sought from members who would like to participate in the management of the Fund by becoming a Member-Elected Director of the Trustee. The term of office is 4 years.
 
Members of all categories of membership (CBH employee, Retained, Spouse, Pension and Growers) are eligible to nominate to be elected as a Director.
 
Prospective nominees are advised that the position is unremunerated however training and education costs required by the Fund will be paid by the Fund.
 
The Board of CBH Superannuation Holdings Pty Ltd (‘the Trustee’) is responsible for: 

    • setting the strategic direction, policies and objectives of the Trustee and the CBH Superannuation Fund and ensuring appropriate resources are available; 
    • monitoring the implementation of those strategies, policies and the achievement of those objectives; 
    • reporting to members on the performance and state of the Fund; and 
    • assessing and monitoring the risks involved in running a superannuation fund, including risks related to investments.

 In meeting the responsibilities set out above, the elected Director agrees to meet all obligations prescribed in law, in particular those in the Superannuation Industry (Supervision) Act (SIS Act) and the Corporations Act.  Obligations of Directors and Trustees from the SIS Act include:

  • to act honestly in all matters;
  • to exercise the same degree of care, skill and diligence as an prudent superannuation entity director would exercise in relation to an entity where he or she is a director of the trustee of the entity and that trustee makes investments on behalf of the entity's beneficiaries; 
  • to ensure duties and powers are performed and exercised in the best interest of the beneficiaries; 
  • where a conflict of duty or conflict of interest arises, to give priority to the duties to and interests of the beneficiaries over the duties to and interests of other persons; and 
  • not to enter into any contract, or do anything else, that would prevent or hinder in, the Trustee properly performing or exercising its functions and powers; 
  • to act fairly in dealing with classes of beneficiaries within the Fund and in dealing with beneficiaries within a class; 
  • to keep the money and other assets separate from any other money and assets held personally and held by the employer-sponsor of the Fund; 
  • to formulate and give effect to an appropriate investment strategy, insurance strategy and risk management strategy; 
  • formulate and give effect to a strategy for the prudential management of reserves in the Fund; 
  • al allow a beneficiary access to any prescribed information or documents; 
  • to adhere to all Trustee policies and relevant governing legislation.


Nominees should be aware that the Trustee and each Director are legally liable for their actions. Members may commence proceedings against them either through the courts or through the Superannuation Complaints Tribunal. In addition, the Federal Government has established a system of fines that may be levied against Trustees and Directors, who do not discharge their duties. These penalties can extend to prison sentences in cases of fraud or dishonesty. The Trustee takes out insurance against the outcome of any errors or omissions they may make. While that is the case, this insurance is limited in its potential application and will not protect a Director from acts of dishonesty or fraud.

A Member-Elected Director will need to be willing and able to make a commitment to undertake Trustee work both during and external to normal work hours.
 
The position provides an opportunity for personal development and the exercise of investment, risk management, legal compliance and planning skills.

Each nominee will need to be assessed by the Trustee to ensure they met the Trustee’s Fitness and Propriety requirements. As part of this assessment you will need to provide a current National Police Certificate with your nomination. You will be reimbursed for the costs involved in obtaining this certificate. The Trustee will also carry out a bankruptcy check on you as part of the Fitness and Propriety assessment.

A Nomination Form may be obtained by contacting me on email
This email address is being protected from spambots. You need JavaScript enabled to view it. or telephone 08 9237 9707 (as may the Fit & Proper Policy, Conflicts Management Policy and the duties of Trustees).
 

Nominations close 5pm March 2, 2018.
  
Donna Adam
Returning Officer

Contributions Caps for 2017-18

From 1 July 2017, the amount you can contribute before tax to your super has reduced.

The concessional contribution caps have reduced from:

  • $30,000 p.a. or $35,000 p.a. for people aged 49 or over on 30 June 2016

To:

  • $25,000 p.a. for everyone from 1 July 2017.

The concessional contributions cap is the maximum concessional contributions you can make into superannuation in a financial year without being subject to additional tax. Concessional contributions include:

  • employer contributions - the 9.5% super guarantee plus any additional employer contributions;
  • amounts you salary sacrifice into your super; and
  • amounts for which you have claimed an income tax deduction.

The non-concessional contributions cap has also reduced from $180,000 to $100,000 p.a. from 1 July 2017. This cap applies to any post-tax contributions you pay into super, other than if you claim a tax deduction for the contribution.

For more information, please contact the Donna Adam at CBH Super on 9237 9707 or This email address is being protected from spambots. You need JavaScript enabled to view it. .



Unit prices

The unit prices set by the Trustee for 1 – 28 February 2018 are:

As of 1 January 2018, the Trustee has removed the buy-sell spread for all investment options.


Accumulation accounts  

 

Growth MySuper Option

Balanced Option

Cash
Option

Unit price

1.1192

1.5183

1.0157


 Pension accounts  

 

Pension Growth Option

Pension Balanced Option

Pension Cash
Option

Unit price

1.0000

1.2588

1.0157


 
The actual returns for each option for the period 1 July 2017 to 31 January 2018 (7 months) are:

Growth MySuper Option           5.28%

Balanced Option                      5.13%

Cash Option                            1.38%

Pension Growth Option            NA^

Pension Balanced Option          5.48%

Pension Cash Option                1.51%

^ No money has been invested in the Pension Growth option during the period.

Previous Unit Prices


Accumulation Accounts                                                               

                                                                               

 

Growth MySuper Option

Balanced Option

Cash Option

Period

Buy

Sell

Buy

Sell

Buy

Sell

 1 - 28 Feb 18
    1.1192
    1.1192
    1.5183
    1.5183
    1.0157
   1.0157
 1 – 31 Jan 18

1.1142

1.1142

1.5114

1.5114

1.0141

1.0141

 1 – 31 Dec 17

1.1097

1.1055

1.5072

1.5026

1.0123

1.0123

 1 – 30 Nov 17

1.0929

1.0887

1.4857

1.4813

1.0103

1.0103

 1 – 31 Oct 17

1.0684

1.0646

1.4545

1.4505

1.0080

1.0080

 1 – 30 Sep 17

1.0641

1.0603

1.4477

1.4437

1.0060

1.0060

 1 – 31 Aug 17

1.0580

1.0542

1.4389

1.4349

1.0042

1.0042

 1 – 31 Jul 17

1.0639

1.0601

1.4462

1.4422

1.0019

1.0019

 

  

 

Growth MySuper Option

Balanced Option

Cash Option

Period

Buy

Sell

Buy

Sell

Buy

Sell

30 June 2017 (annual statement)

1.0631
6.31% return for 11 months*

1.4442
8.89% return for year

1.0019
 0.19% return for 15 days#

1 – 30 Jun 17

1.0721

1.0685

1.4552

1.4524

1.0019

1.0019

1 – 31 May 17

1.0644

1.0608

1.4493

1.4465

 -

1 – 30 Apr 17

1.056

1.052

1.430

1.426

 -

 -

1 – 31 Mar 17

1.039

1.035

1.401

1.397

 -

 -

1 – 28 Feb 17

1.026

1.022

1.379

1.375

 -

 -

1 – 31 Jan 17

1.040

1.036

1.389

1.385

 -

 -

1 – 31 Dec 16

1.017

1.013

1.357

1.353

 -

 -

1 – 30 Nov 16

1.004

1.000

1.341

1.337

 -

 -

1 – 31 Oct 16

1.028

1.024

1.359

1.355

 -

 -

1 – 30 Sep 16

1.037

1.033

1.360

1.356

 -

 -

1 – 31 Aug 16

1.002

0.998

1.365

1.361

 -

 -

23 – 31 Jul 16

1.002

0.998

1.355

1.351

 -

 -

1 – 21 Jul 16

1.002

0.998

1.328

1.324

-

 -

* The Growth MySuper Option was funded from 1 August 2016 and therefore the return is for eleven months.

The Cash option was introduced from 15 June 2017 and only represents 15 days of return.

 

Pension Accounts 

 

 

Pension Growth Option

Pension Balanced Option

Pension Cash Option

Period

Buy

Sell

Buy

Sell

Buy

Sell

1 – 28 Feb 18

1.000

1.0000

1.2588

1.2588

1.0157

1.0157

 1 – 31 Jan 18

1.0000

1.0000

1.2529

1.2529

1.0669

1.0669

 1 – 31 Dec 17

1.0019

0.9981

1.2486

1.2448

1.0648

1.0648

 1 – 30 Nov 17

1.0019

0.9981

1.2299

1.2263

1.0625

1.0625

 1 – 31 Oct 17

1.0018

0.9982

1.2028

1.1994

1.0598

1.0598

 1 – 30 Sep 17

1.0018

0.9982

1.1969

1.1935

1.0575

1.0575

 1 – 31 Aug 17

1.0018

0.9982

1.1893

1.1859

1.0552

1.0552

1 – 31 Jul 17

1.0018

0.9982

1.1951

1.1917

1.0527

1.0527

 

 


 

 

Pension Growth Option

Pension Balanced Option

Pension Cash Option

Period

Buy

Sell

Buy

Sell

Buy

Sell

30 June 2017 (annual statement)

1.000#
5.37% return for year*

1.1934
8.93% return for the year

1.0527
1.47% return for the year

1 – 30 Jun 17

1.0018

0.9982

1.2029

1.2001

1.0508

1.0508

1 – 31 May 17

1.0542

1.0506

1.1979

1.1951

1.0492

1.0492

1 – 30 Apr 17

1.039

1.035

1.183

1.179

1.048

1.048

1 – 31 Mar 17

1.018

1.014

1.163

1.159

1.046

1.046

1 – 28 Feb 17

0.995

0.991

1.143

1.139

1.047

1.047

1 – 31 Jan 17

1.001

0.997

1.149

1.145

1.046

1.046

1 – 31 Dec 16

0.977

0.97

1.123

1.119

1.042

1.042

1 – 30 Nov 16

1.000

0.996

1.109

1.105

1.042

1.042

1 – 31 Oct 16

1.002

0.998

1.126

1.122

1.041

1.041

1 – 30 Sep 16

1.002

0.998

1.126

1.122

1.040

1.040

1 – 31 Aug 16

1.002

0.998

1.131

1.127

1.039

1.039

23 – 31 Jul 16

1.002

0.998

1.122

1.118

1.039

1.039

1 – 21 Jul 16

1.002

0.998

1.098

1.094

1.037

1.037


* The Pension Growth Option was funded from 1 October 2016 to 18 June 2017 and the return is inclusive of these dates only.  #The unit price has reverted to 1.0000.


Historical Unit Prices

To view the unit prices for 2015/2016, please click here.

To view the unit prices for 2014/2015, please click here.

To view the unit prices for 2013/2014, please click here.

To view the unit prices for 2012/2013, please click here.

  

 

 

 

Significant Event Notices

Summary of significant event notices and material change notices in the last two years

The following table provides a summary of the significant event notices and material change notices sent to members in the past two years.  These notices are generally included in a Fund newsletter or the Annual Report, however where only a small number of members are affected or we wish to provide tailored information to each member, the notice may be via separate communication to individual members.

Where a general notice was sent, you can view a copy by clicking on the link provided under the ‘nature of the event or change’.                                                                                                            

 

   Notice date

Nature of event or change

Description of the change

        December 2017

     Removal of Buy-Sell spread

From January 1 2018, the Trustee has removed the buy-sell spread for all investment options in the fund.

    October 2017

Change to Buy-Sell spread

The Fund’s buy-sell spread for each option has changed.

    October 2017

Change to the socially responsible investing statement

The Trustee has updated its statement on socially responsible investing.

October 2017

Change to investment objectives

The Fund has amended the Growth MySuper/Pension Growth and Balanced/Pension Balanced option objectives to use the Australian CPI rather than the Perth CPI.

October 2017

Change to fees

The actual fees for the year ending 30 June 2017 are provided.



October 2017

   

         New Investment Option

The Cash Option was introduced for accumulation members.

April 2017

Update to Unit Pricing Policy

 

 

 

 

 

 

 

 

 





CBH Super will offer a MySuper Product from 1 May 2017

 

 

 

 

 



No accrued default amounts (ADAs) remain in the Fund from 1 May 2017

 

The Fund’s Unit Pricing Policy has been updated to reflect our full range of investment options, the processes used by SuperBPO in calculating unit prices and changes that have occurred to allow the Fund to offer a MySuper product.

Approx 1100 member affected.

 

CBH Super will offer a MySuper product "Growth MySuper" from 1 May 2017.  As part of this offering, the Growth option will now be called the Growth MySuper option.

 

CBH Super does not hold any accrued default amounts from 1 May 2017 and as such, no member will have their previous ADA amount compulsorily transferred to Kinetic Super.

February 2017

Compulsory transfer of accrued default amount

Any member with amount held in the Balanced option (formerly known as the Managed option) in CBH Super Fund at 31 December 2013, less any amounts that have been transferred out of this option since that date -‘accrued default amount’ (ADA) are required to transfer the ADA to a MySuper product, unless the member opts out of this transfer.

Approx 750 members affected.

September 2016

Advice of the Fund’s Management Expense Ratio (MER) for the 2015/16 year.

The MER has increased from 0.28% for the year ending 31 October 2015 to 0.31% for the 8 months ending 30 June 2016.

The 2016 MER is made up of an investment fee of 0.12% and indirect costs of 0.19%.

September 2016

Asset allocation change – Balanced and Pension Balanced options

The investment strategy is regularly reviewed by the Trustee. The strategic asset allocation for the Balanced and Pension Balanced options was amended to suit current market conditions.

July 2016

Removal of member protection for account balances under $1,000

To ensure that all members are treated equally, CBH Super has removed member protection for members with account balances of under $1,000 effective 1 July 2016. This means all members will pay the same direct Administration fee of $65 per annum.

July 2016

Introduction of new Investment choices - Growth and Pension Growth options

The Trustee introduced the Growth and Pension Growth options effective 1 July 2016.  All members now have a choice of how their account is invested in the Fund and they can switch between the two options on request.

June 2016

The Fund’s Trust Deed was amended 1 June 2016

The amendments:

  • allow CBH Super to appoint and remunerate more than one independent director
  • permit the Fund to pay all expenses over and above the financial contribution made to cover the operating costs by CBH
  • permit the Trustee to hold a MySuper authorisation should one be granted by the APRA
  • permit CBH and the Fund to agree to admit other employee classes to the Fund.

March 2016

Change in Fund’s investment risk level.

Subsequent to the Strategic Asset Allocation changes in November 2015, the level of risk for the Managed Option was re-evaluated taking into account future expected market volatility.

The level of risk is now Medium to High – with expected negative returns over a 20 year period of 3 to less than 4 times.  Previously this was Medium - with expected negative returns over a 20 year period of 2 to less than 3 times.

March 2016

Change of year end for the Fund.

CBH Super will move to a 30 June year end from 30 June 2016 (previously 31 October each year).

The move to 30 June aligns the Fund’s year end with most other superannuation funds.

This will ensure members can easily compare investment returns with the rest of the superannuation industry as well streamlining in house administration processes.

March 2016

The Fund’s Trust Deed was amended effective 8 December 2015.

The amendments made to the Trust Deed were:

  • to allow CBH Super to appoint and remunerate more than one independent director in line with draft governance legislative requirements;
  • to permit the Fund to pay all expenses over and above the financial contribution made to the operating cost by the sponsoring employer CBH Group; and
  • to permit CBH Group and the Fund to agree to admit other employee classes to the Fund.

March 2016

Advice of the Fund’s Management Expense Ratio (MER) for the 2014/15 year.

The MER has increased from 0.22% for the year ending 31 October 2014 to 0.28% for the year ending 31 October 2015.

The 2015 MER is made up of an investment fee of

0.16% and indirect costs of 0.12%.