Cbus ordered to pay $23.5 million penalty for serious failures in processing members death benefits and insurance claims

25-286MR

civil penalty25 Nov 2025Penalty $23.50M

Respondent

United Super Pty Ltd

Facts

One of Australia’s largest superannuation fund trustees has been ordered by the Federal Court to pay a penalty of $23.5 million for unreasonable delays experienced by thousands of members and claimants arising from serious failures to handle insurance claims in a timely manner.

Outcome

ASIC civil penalty of $23,500,000 — United Super Pty Ltd, trustee of the Construction and Building Unions Superannuation Fund (Cbus) (2025-11-25), for delays in processing death benefit and TPD insurance claims. See the ASIC source for the full terms.

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Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2025-releases/25-286mr-cbus-ordered-to-pay-235-million-penalty-for-serious-failures-in-processing-members-death-benefits-and-insurance-claims

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