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Section 3. Benefits of investing with Hostplus

The information in this document forms part of the Hostplus Executive Product Disclosure Statement 20 September 2019.

We’re the executive superannuation product within Hostplus, the industry superannuation fund for the hospitality, tourism, recreation and sport industries.

Being part of an industry fund, we offer low fees, tailored insurance arrangements, we don’t pay commissions to financial advisers and we’re run to benefit our members.

Hostplus Executive receives accolades - from SuperRatings: Platinum, their highest possible rating. And from Chant West: their top 5 Apples Corporate Super rating.

And you don’t have to retire to benefit with Hostplus Executive.

There’s a complimentary fact finding consultation for your super when you join and our members also value the extras, like Hostplus Executive’s Additions program - which offers low cost banking, reduced private health insurance rates, and for eligible members, savings on travel and accommodation.

And regardless of whether you change jobs or leave the industry, you can always stay with Hostplus Executive and continue enjoying the benefits of being a member.  In fact, we can help you plan at every stage of life, even to retirement - with the Hostplus Pension Plan. 

Hostplus Executive is authorised to offer a MySuper product (Balanced investment option) a straightforward option that suits most members. You’ll find our MySuper Product Dashboard at hostplusexecutive.com.au/dashboard.

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3.1 We're run to benefit our members

At Hostplus Executive, we don’t pay commissions to financial advisers. Not one cent. Our industry fund heritage also means we don’t have shareholders in the traditional sense. Instead, Hostplus Executive is run to benefit members.

3.2 We offer low administration fees

With no shareholder dividends to pay – and because we refuse to hand out trail commissions for planners and advisers – we have no reason to charge high fees. Our administration fee is a, competitive $1.50 per week plus investment expenses.

3.3 Competitive returns

We aim to achieve competitive, long-term investment performance for members. Our Balanced investment option is ranked number one over 3, 5 and 7 years to 30 June 2019 (SuperRatings' SR50 Balanced (60-76) Index June 2019).


3.4 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 Executive 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.
  • Any death insurance includes Terminal Illness cover.

Some employers make their own special insurance arrangements with Hostplus  Executive on behalf of their employees. Hostplus Executive also gives employers the option to really add value to members’ total benefits packages by allowing them to fund all or part of their insurance cover. If this is the case, you will be advised of these arrangements by your employer and/or in your welcome letter.

If your employer hasn’t made insurance arrangements or you have opted out of your employer’s insurance arrangement with Hostplus Executive, you will generally receive default cover.

If you are eligible, Hostplus automatically provides insurance to members aged between 11 and 69 years old of age.

Refer to Section 8 Insurance in your super for further information on our insurance offering.


3.5 Your investment strategy – your choice

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

Choiceplus allows you to invest directly in Australian shares (S&P/ASX 300 index), selected Exchange Traded Funds (ETFs) and Listed Investment Companies (LICs) and term deposits. You can register for Choiceplus through your Member Online.

To choose how your super is invested, make your investment choice online through your Member Online account at hostplus.com.au/executive.

You can always change your investment choice free of charge.

If you prefer not to choose at all, we’ll invest your contributions in our Balanced (default) investment option.


3.6 Member Online – your online super account at Hostplus Executive

With Hostplus Executive, you can check and manage your account details online via Member Online at hostplus.com.au/executive, 24 hours a day, seven days a week with Personal Identification Number (PIN) protected access.

Review your account balance and investments

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.

Your Choiceplus investments can be monitored through the dedicated online Choiceplus platform accessed via your Member Online account.

Make an investment choice online

Change how your existing balance and future contributions are invested.

Top-up your super

Make additional contributions to your Hostplus Executive account, quickly and easily, by BPAY® 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.


3.7 Financial Planning

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 Executive members can access high quality, low cost financial advice by Hostplus financial planners licensed by Industry Fund Services Ltd (IFS) ABN 54 007 016 195, AFSL 232514.

All Hostplus planners are fully qualified and are authorised representatives of IFS under its Australian Financial Services Licence. These Hostplus planners can be found in each state.

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

Initial fact-finding consultation

When you join Hostplus, you're entitled to a fact-finding consultation with Hostplus planner, included in your membership.

It’s simply one way we can help you along the road to a super retirement. No personal 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, if you wished to, you could receive comprehensive advice, in plain English, about a range of financial issues including:

  • budgeting – so you can take control of your money.
  • investment options/strategy – 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 planner 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.

Members who choose to engage the services of a Hostplus planner, will receive a fixed quote before proceeding with personal advice services. This quote will be provided once the Hostplus planner has 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

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 Executive member you can pay these advice 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 Executive account to cover the cost of personal advice where it relates solely to your interest in Hostplus Executive (subject to an annual cap of $3,000), and
  • you must retain a minimum of $6,000 in your Hostplus Executive account after the deduction of the fee is applied.

To reserve your appointment with an a Hostplus financial planner, please call Hostplus Executive on 1300 467 785.


3.8 Communicating with you

On joining, you will receive your welcome kit with membership card. Any disclosure required to be provided to you by law will be made available on the website or other Hostplus digital facilities. 

Hostplus issues Half Yearly Statements for the periods ending 31 December (generally available in March) and 30 June (generally available in September) showing all transactions, switches and beneficiary details. You can view the Half Yearly Statements on Member Online.

We will let you know via your nominated contact details when your statement is available and how you can access it. If you would prefer us to mail your full statement to you, you may opt out any time by calling us on 1300 467 875, or updating your communication preferences on Member Online. 

If you opt out within seven days of the date of this notification, any disclosures already delivered digitally will be sent to your nominated contact details*.

Confirmation of investment transactions will also be made available to you via Member Online.

You can access our annual report online at www.hostplus.com.au which is available between September and December each year.

In the event of significant change to products and services relating to your account Hostplus will email you the details relating to the changes. If we do not hold your email address we will write to you.


You may receive occasional marketing communications from Hostplus to keep you up to date on products and services (for which you can opt out).
* We can send notification and disclosures to you at a different electronic or postal address. Please update your contact details by calling us or logging into Member Online.

 

 

This document does not and is not intended to contain any recommendations, statements of opinion or advice. The information is factual and / or general in nature and does not consider any of your objectives, financial situation or needs. You should consider obtaining advice from a licensed financial and taxation adviser and consider the appropriateness of this information, having regard to your particular investment needs, objectives and financial situation.

Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392, RSEL No. L0000093, MySuper No. 68657495890198, Hostplus Superannuation Fund ABN 68 657 495 890, RSE No. R1000054.


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