HOSTPLUS Member Guide

Section 3. Benefits of investing with HOSTPLUS

The information in this document forms part of the HOSTPLUS Superannuation Fund and HOSTPLUS Personal Super Plan Product Disclosure Statement 12 March 2014.

HOSTPLUS is the industry superannuation fund for the hospitality, tourism, recreation and sport industries – but generally anyone can join. Because we’re an industry fund, we offer low fees, low cost insurance, we don’t pay commissions to financial advisers and are run to benefit our members – that’s you. My Super Approved

We’re also highly regarded, having been awarded some of the most prestigious accolades in the industry. All of which means your super is in good hands. Plus our members enjoy a range of extras, like low cost banking, and if eligible, savings on travel and accommodation. Best of all, even if you change jobs or leave the industry, you can still stay with HOSTPLUS and continue to enjoy the benefits of being a member.

HOSTPLUS is authorised to offer a MySuper product (authorisation no. 68657495890198). Our MySuper product is our Balanced (default) investment option.

  • We're run to benefit our members

    After taxes and investment expenses are taken out of investment returns, we reinvest all monies for the benefit of our members. We also don’t pay commissions to financial advisers or dividends to shareholders. So more money stays in your account.

  • We offer low fees

    HOSTPLUS members pay a low administration fee of $1.50 per week which will remain frozen to the end of 2014 when it will not have changed for ten years – another great reason to join us. Like most super funds, investment expenses also apply. However, we strive to ensure the expense incurred in managing each investment option is among the most competitive available in Australia for that type of investment.

  • Competitive returns

    We aim to achieve competitive, long-term investment performance for members. The Balanced option has recorded top quartile investment returns over the longer term, that is the past 3, 5, 7 and 10 years as at 30 June 2014, according to the SuperRatings Fund Crediting Rate Survey (19 July 2014).

    Past performance is not a reliable indicator of future performance.

  • Competitive insurance cover

    Right now, your most valuable assets are your health, family and your income earning potential. Protecting these assets is an important part of a smart financial plan.

    So HOSTPLUS gives you access to three key types of insurance cover:

    • Death and Total & Permanent Disability insurance cover,
    • Death Only insurance cover, and
    • Salary Continuance (also known as income protection) insurance cover.
    • Terminal Illness cover is included as part of any Death cover.

    If you are eligible, you will receive automatic insurance cover when you join HOSTPLUS. Members aged 25 to 64 will automatically receive two units of Death and Total & Permanent Disability (TPD) insurance cover at $5.54 per week.

    Members under 25 years receive one unit of Death and TPD insurance cover at $2.77 per week. Any death insurance includes Terminal Illness cover.

  • Insurance for Personal Super Plan

    Eligible HOSTPLUS Personal Super Plan members receive automatic Death and Total & Permanent Disability (TPD) fixed benefit insurance of $100,000. 

    You can apply for different types of insurance or higher levels of insurance using the Increase your insurance cover application available at www.hostplus.com.au/forms – or, once your membership has commenced, apply online through your SuperSite account at www.hostplus.com.au Interim insurance arrangements apply while the insurer is assessing your insurance application.

  • Your investment strategy – your choice

    HOSTPLUS gives you a choice of 20 investment options, offering a wide range of investment strategies to suit your investment time frame, long-term goals and risk profile – from growth asset classes, like equity and property, to defensive asset classes, like fixed income and cash.

    Our latest investment option, ChoicePlus, allows you to invest directly in Australian shares (S&P/ASX 300 Index), selected Exchange Traded Funds (ETFs) and term deposits. To find out more or register for ChoicePlus visit hostplus.com.au/choiceplus.

    To choose how your super is invested, make your investment choice online through your SuperSite account at www.hostplus.com.au or complete the Investment choice form available at www.hostplus.com.au/forms and forward it to us. 

    You can always change your investment choice free of charge.

    If you prefer not to choose at all, we’ll invest your contributions in the HOSTPLUS Balanced option – the default investment option.

    Find out more about investments and investment options at www.hostplus.com.au/investments

  • SuperSite – your online super account at HOSTPLUS

    You can check and manage your account online via SuperSite at www.hostplus.com.au 24 hours a day, seven days a week. 

    Naturally, your account is protected by its own Personal Identification Number (PIN), and member number, which you’ll receive with your welcome letter. 

    You can use SuperSite to:

    Review your account balance, investments and insurance online

    • get an estimate of your account balance, and review your transactions for the previous two reporting periods.
    • see how your investment has progressed over the years and in which investment options you have invested your super.
    • you can also apply to increase or change your insurance cover.

    Make an investment choice online

    • change how your existing balance and future contributions are invested.
    • your ChoicePlus investments can be monitored through the dedicated online ChoicePlus platform at hostplus.com.au/choiceplus
    Top-up your super
    • make additional contributions to your HOSTPLUS account, quickly and easily, by BPAY®, POSTbillpay® and direct debit.

    Update your personal details

    • advise us of changes to your personal details, including a change of address or beneficiary, or notification of your Tax File Number.
  • Industry Fund Services Ltd

    Good advice now can make a lifetime of difference later. Because we care about your financial future, we encourage you to seek expert financial advice about super.

    That’s why HOSTPLUS members can access high quality, low cost financial advice from Industry Fund Services Ltd (IFS), ABN 54 007 016 195, AFSL 232514.

    All IFS advisers are fully qualified and are authorised representatives of IFS under its Australian Financial Services Licence and HOSTPLUS dedicated advisers can be found in each state.

    IFS advisers are not paid commissions, leaving them free to recommend strategies that are appropriate for you.

    FREE fact-finding consultation

    When you join HOSTPLUS, you’re entitled to a free fact-finding consultation with IFS.

    It’s courtesy of HOSTPLUS and there is no obligation. It’s simply one way we can help you along the road to a super retirement.

    No financial advice is given, but it will help you decide if you need to go further.

    Commission-free, expert, easy-to-understand advice

    In addition, you can also receive comprehensive advice, in plain English, about a range of financial issues including:

    •     budgeting – so you can take control of your money.
    •     investment options – so you can maximise your money.
    •     insurance – so you’re properly protected.
    •     tax – so you get back what you’re entitled to.
    •     super – so you can enjoy a comfortable retirement.

    Importantly, a financial adviser can help develop a financial plan tailored to your current lifestyle and future financial goals. And naturally, they can help you review and refine your plan down the track, so it keeps pace with the changes in your life.

    If you choose to engage the services of an IFS adviser, the cost of advice provided face-to-face will range between $295* for a single-issue advice relating directly to your HOSTPLUS superannuation to several thousand dollars for an SOA providing comprehensive, multi-issue, strategic advice. The IFS adviser will provide a fixed quote once they have understood and agreed with your specific advice requirements.  Some examples of services are:

     

    • Member investment choice.
    • Member insurance.
    • Super contribution eligibility.
    • Super splitting advice.
    • Super retirement projection.
    • Full ‘super only’ financial plan (all of the above).
    • Personal rollover plan.
    • Transition to retirement advice.
    • Retirement plan.
    • Review of personal circumstances.

     

    *As at 1 July 2013.  Fees include GST.

    These fees are only deducted when you seek advice and provide approval of the deduction on an ‘as needed’ basis. Fees may be subject to change and, if so, you will be advised when you seek financial planning advice.

    As a HOSTPLUS member you can pay IFS fees directly from your superannuation account, for superannuation related financial advice and plans only (as opposed to full financial plans), subject to conditions as per below:

     

    • you can elect to deduct all or a portion of the advice fee from your HOSTPLUS account to cover the cost of personal advice where it relates solely to your interest in HOSTPLUS is subject to an annual cap of $3,000, and
    • you must retain a minimum of $5,000 in your HOSTPLUS account after the deduction of the fee is applied.

    To reserve your free fact-finding consultation or arrange a meeting with an IFS licensed adviser, simply call 1300 HOSTPLUS (1300 467 875).

  • Communicating with you

    On joining, you will receive your welcome kit with membership card, and each year you will receive:

    • two statements for the periods ending 31 December (mailed in March) and 30 June (mailed in September) showing all transactions, switches and beneficiary details,
    • an annual report which is available online between September and December each year, and
    • a half yearly magazine.