Drawing on three decades in superannuation and a career spent supporting Australia’s construction and civil workforce, CBUS Relationship Manager Troy Wolter has seen first-hand the impact that informed financial planning can have on people across the industry.
Now part of the CBUS team and working closely with the Queensland Major Contractors Association (QMCA) community, Troy says Queensland’s infrastructure pipeline presents enormous opportunities for both businesses and workers — but only for those prepared to plan carefully and stay ahead of key industry changes.
Having spent most of his career working with industry super funds aligned to the construction and civil sectors, Troy describes joining CBUS as a “perfect fit”.
“I know the clients, I know the industry, and I know the product,” he said.
“But more importantly, I love helping people. That’s what gets me out of bed every day.”
Building confidence in uncertain times
For Troy, one of the most rewarding aspects of his role is helping workers and business owners better understand superannuation and long-term financial planning.
“There’s a lot of confusion around superannuation in the construction and civil industries,” he said.
“When you can explain things in simple terms and give people clarity and confidence about their future, you can see the relief on their faces straight away.”
It is a philosophy shaped by personal experience.
Troy recalls being encouraged by his father-in-law to begin contributing additional money into superannuation at just 21 years of age — advice he now describes as one of the most important financial lessons of his life.
“That money compounded over time and has put me in a fantastic position for retirement,” he said.
“It’s why I’m passionate about speaking to apprentices, trainees and younger workers early. The sooner people engage with super and understand it, the better off they’ll be later in life.”
Queensland’s infrastructure pipeline presents enormous opportunity
With Queensland entering one of the largest infrastructure delivery periods in the state’s history, Troy believes the coming decade presents enormous opportunities for the construction sector.
“In my 30 years in superannuation, I’ve never seen the optimism or the size of the project pipeline like we’re seeing now,” he said.
But he also warns that strong planning and strategic decision-making will be critical.
“There will be businesses that do very well over the next 10 years, and there will also be businesses that struggle,” he said.
“The organisations that take a measured, strategic approach — the same way super funds invest and plan — will put themselves in the strongest position.”
Troy says the breadth of support available through CBUS allows the organisation to assist everyone from apprentices and sole traders through to CEOs and major contractors.
“The younger generation often needs guidance and education early, while business leaders are looking for more detailed conversations around strategy and planning,” he said.
“But ultimately, everyone wants confidence about their future.”
A changing industry requires adaptable support
As construction and infrastructure roles continue to evolve through technology, automation and new project delivery models, Troy says scale and specialist expertise are increasingly important.
“The advantage of a fund like CBUS is the depth of resources and specialist teams available,” he said.
“They’ve got investment experts, property specialists, advisory teams and people focused specifically on understanding the industry and where it’s heading.”
For Troy personally, the focus remains on relationships and helping people navigate complex issues with confidence.
“There are no silly questions,” he said.
“If somebody asks something they think is obvious, chances are there are five other people in the room wondering the same thing.”
Payday Super changes now a critical focus for employers
As the end of the financial year approaches, Troy says one issue should already be on the radar of every employer in the construction and infrastructure sector — Payday Super.
From 1 July, businesses will be required to align superannuation payments with payroll cycles, rather than paying quarterly. Under the new requirements, superannuation contributions must reach employees’ accounts within seven business days of being paid.
Troy says many businesses are still unaware of the significance of the changes.
“I spoke to a national civil company recently that didn’t know Payday Super was coming,” he said.
“That surprised me enormously.”
He warns the changes could create significant cashflow and administration impacts, particularly for smaller businesses accustomed to quarterly payment arrangements.
“Even very large organisations are concerned about what this means for their cashflow,” he said.
In addition to Payday Super, employers also need to understand changes to the definition of earnings used to calculate superannuation obligations.
“Businesses really need to be all over these legislative changes now,” Troy said.
To help employers prepare, CBUS is currently running regular webinars focused on Payday Super and end-of-financial-year obligations.
“The interest has been unprecedented,” Troy said.
“We’re seeing hundreds of registrations and sessions booking out well in advance.”
His message to QMCA members is simple: start preparing now.
“Don’t wait until the first pay cycle after 1 July and suddenly realise you’re not ready,” he said.
“Early preparation is absolutely key.”
Supporting the QMCA community
Having recently become more involved with QMCA through CBUS’ partnership with the Association, Troy says he has been impressed by the engagement and collaboration across the sector.
“You guys put on some fantastic networking opportunities and provide genuinely valuable information for members,” he said.
For Troy, the partnership ultimately comes back to supporting the people building Queensland’s future.
“My top tip is that it’s never too late,” he said.
“No matter where somebody is in their career or financial journey, there’s always a plan and there’s always an opportunity to improve their future.”
If you have questions about Payday Super, contact Troy Wolter, Senior Employer Engagement Manager at troy.wolter@cbussuper.com.auor 0439 842 066 for support.
