Hostplus Super

Hostplus is a privately owned and operated industry super fund, run to benefit its members.

Hostplus offers a choice of four main categories of investment options at the time of writing:

• Pre-mixed options
• Sector investment options
• Individual manager options
• Choiceplus investment options

You can choose to invest in one option or a combination of options, provided you have a minimum of 1% of your super invested in any selected option. You can also switch investment options at any time for no fee, according to Hostplus.

If you don’t make a decision as to how your money will be invested, Hostplus says members will be invested into the Hostplus Balanced (MySuper) option. As the MySuper authorised option, this option may suit members who plan to have their super invested for the long term (five years or longer).

For more details on what each Hostplus investment option entails, you can contact Hostplus or read the PDS and other documentation on its website.

For members looking for an ethical investment option, Hostplus offers the Socially Responsible Investment (SRI) option that aims to exclusively invest in companies and assets that contribute to sustainable outcomes.

Hostplus charges a variety of fees to its members in return for managing their superannuation savings. At the time of writing, some of its fees include:

• Investment fees, which may vary from depending on the investment option. This reflects the fees and costs associated with the performance and ongoing management of investments of the fund and underlying investment vehicles.
• Administration fees of $78 per year ($1.50 per week).
• Transaction costs, which may vary depending on the investment option. This reflects the fees and costs associated with the purchase and sale of investment assets.
• Insurance fees, if you have insurance cover through your super. The cost will depend on the level and amount of cover you have, your age, and the type of work you do, Hostplus says.

Bear in mind that other fees may apply. Consider checking Hostplus’ product disclosure statement (PDS), Target Market Determination (TMD) and other applicable product documentation for details. You can also compare the annual fees for Hostplus’ default investment option to other super funds’ fees on Canstar’s database.

Hostplus members can consolidate their super accounts by logging into their Member Online account, and entering the details of other super account(s) they hold to start the consolidation.

It’s important to check with your current super fund(s) for information regarding any related costs you may incur and any insurance cover you may lose if you switch super funds. Also consider whether consolidating your super is a suitable decision for your life stage and retirement goals.

Founded in 1988 by the Australian Hotels Association and the United Workers Union, Hostplus is the national super fund for workers in the hospitality, tourism, recreation and sport industries, though membership is now open to all Australians. Hostplus has grown to be one of the largest super funds in Australia, claiming that its continued growth has allowed it to keep member costs low.