Types of Hostplus super accounts
Hostplus offers three retirement-related products to choose from:
- Corporate super arranged by an employer for their employees to use
- Personal super available for individual employees
- Account-based pension converts superannuation into regular income payments for retirees and workers in the transition to retirement (TTR) stage
Some of the features available to Hostplus Ssuper members who have a personal super account, include:
- Flexible investment options, including ‘pre-mixed’ investment which spreads your investment across a range of assets classes, as well as more hands on options such as the CHouceplus option which allows members to ahve greater control over how their money is invested.
- Insurance in super available for death cover (life insurance), and total and permanent disability (TPD) cover (as with any insurance product, consider checking the cover amount, any exclusions, limits or other conditions that apply, as well as the premiums you would be charged before deciding whether it suits your needs).
- Over-the-phone financial advice available
- Online account access
Eligibility to join Hostplus Super
Hostplus Personal Super Plan members
You can become a Hostplus Personal Super Plan member if:
- You’re eligible for Super Choice, ie. you’re employed by a non-Hostplus participating employer,
- You’re self-employed, or
- You’re not in paid employment.
Bear in mind that other eligibility criteria may apply, so consider checking these with Hostplus before starting your application.
How to join Hostplus super
You can join Hostplus by clicking on its products in Canstar’s superannuation comparison tables and then sign up online on its website.
Consider comparing other super funds with Canstar website and check our choosing a super fund checklist before signing up for a particular superannuation account.
Hostplus Super FAQs
Yes, Hostplus has a dedicated online portal for super fund members. You can view your account balance online, access statements for your account, download super fund information and more.
The money in your Hostplus Super account is invested by your super fund. It offers a variety of investment options including pre-mixed, sector and direct investment options. There is also a Choiceplus investment option available to members that to play a more active role in their investments.
When choosing an investment option, it is important to take into your account investment time frames and goals, and your personal risk tolerance for market fluctuations.
Hostplus, like most super funds, charges a variety of fees to its members in return for managing their superannuation savings. At the time of writing, some of Hostplus’s super fees include:
- Investment fee: Between 0.00% and 0.86% depending on your investment choice. Fee is deducted daily from the gross investment earnings before net investment returns are applied to your account, Hostplus says.
- Admin fee: $78.00 p.a. ($1.50 per week)
- Indirect cost ratio (a fee related to investment that is deducted from any returns before they are credited to your balance): Ranges between 0.01% and 1.17% depending on your chosen investments.
Bear in mind that other fees may apply. Consider checking the product disclosure statement (PDS) for details. You can also compare Hostplus’s fees to the other super fund fees on our database.
Hostplus offers a consolidation service for members who have super in other funds.
It’s important to check with your old super funds for information regarding any switching costs and any insurance cover you may lose if you switch super funds.
To help you stay on top of your super, it may be beneficial to check your regular super statement closely. Here are some of the factors that could be worth paying attention to:
- Personal details are up-to-date
- Nominated beneficiaries are up-to-date
- Tax File Number (TFN) is recorded
- Super contributions from employer and/or your voluntary contributions are correct
- Investment asset class choices are appropriate for your life stage
- Amount paid in fees
- Insurance still adequate
- Super is consolidated, after checking whether there is insurance or any other benefits attached to the account you may lose and you’re comfortable to do so
- The big picture – are you happy with your super fund overall?
Founded by the Australian Hotels Association (AHA) and United Voice in 1988, Hostplus says it has grown to be one of the largest super funds in Australia with over one million members, more than 185,000 employers and $53 billion in funds under management.