Board reaches decision on BUSSQ

24 February 2022

Impasse at BUSSQ resolved: The CFMEU and Master Builders Queensland are pleased to confirm that they have worked together to resolve their differences regarding the BUSSQ Board.

After a series of productive and co-operative meetings between shareholders and an extensive consultation process, Master Builders will reconstitute the BUSSQ Board via the appointment of three new directors: Paul Hick, Christopher Taylor and Geoff Baguley, providing assurance to fund members.

CFMEU assistant secretary Jade Ingham welcomed the resolution, and thanked Master Builders for ensuring the ongoing stability of the BUSSQ superannuation fund.

“We have agreed that the interests of BUSSQ – which is consistently among the top performing super funds in Australia – are best served by maintaining the existing management and board structure. This will see BUSSQ continue to deliver top-tier investment results for its 70,000 members,” Mr Ingham said.

“We can assure members that the fund remains in good hands and will continue to provide the long-term returns that members have come to expect.”

Master Builders President Ralf Dutton said he was pleased with the resolution, stressing that “Master Builders has always had the best interests of fund members at heart.”

“With a new look BUSSQ Board in place, we are looking to ensure that the focus is on continuing to deliver the best outcomes for fund members and building industry workers in general,” Mr Dutton said.

“BUSSQ has a near 40-year history of providing stellar retirement savings for members, and we look forward to ensuring building industry workers continue to have access to such a high performing fund for decades to come,” Mr Ingham said.