Superannuation and Personal Super Plan
Member Guide
Issue Date 1 October 2024The information in this document forms part of the
The information in this document forms part of the
Hostplus Superannuation and Personal Super Plan
Product Disclosure Statement issued 1 October 2024.
2
Contents
Section 1.
About Hostplus ..............................................................3
Section 2.
How super works ............................................................5
Section 3.
Benefits of investing with Hostplus .......................20
Section 4.
Risks of super ................................................................24
Section 5.
How we invest your money .......................................27
Section 6.
Fees and costs .............................................................68
Section 7.
How super is taxed.......................................................77
Section 8.
Insurance in your super .............................................83
Section 9.
How to open an account .........................................128
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Section 1.
About
Hostplus
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4
Section 1.
About Hostplus
Superannuation
& Personal Super
Hostplus is one of the largest industry super funds
in Australia with more than 1.8 million members, more than
312,000 contributing employers and more than $115 billion
in funds under management. Hostplus continues to evolve
and grow as the lifetime fund of choice for Australians
and employers from a broad range of backgrounds
and industries.
You can find important governance information about
Hostplus Superannuation & Personal Super Plan at
hostplus.com.au/about-us/company-overview
including our:
· Trust Deed and governing rules
· Annual Report
· Financial Services Guide
· Service providers
· Appointment of directors
· Board attendance
· Our directors and executive team, and remuneration.
Hostplus offers a wide range of investment options which
include pre-mixed and single sector options. Hostplus is
also authorised to offer a MySuper product, which is our
default Balanced investment option. You’ll find our MySuper
Product Dashboard at hostplus.com.au/dashboard .
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Section 2.
How super
works
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2.3 How your super account works
Section 2.
Your Hostplus super account is where your employer
How super works contributions and your personal contributions are allocated.
Contributions and positive investment returns are added to
the balance. Fees, Government taxes, expenses and negative
investment returns are deducted from the balance. In case
we cannot accept or allocate money received, the money
Superannuation may seem complex but it’s just money
will be returned without interest. Interest earned on any such
put aside for your retirement. Your employer contributes
unallocated monies is accumulated in the Fund's investment
11.5% of your ordinary time earnings (which is primarily
reserve for the benefit of members.
your salary) to a superannuation fund, where that money
is invested for you. These contributions are called the Compulsory contributions
Superannuation Guarantee (SG). (11.5% Superannuation Guarantee)
The SG percentage rate is 11.5% from 1 July 2024 and is
+
scheduled to increase to 12% from 1 July 2025.
Personal contributions
2.1 Who’s eligible for SG contributions?
Salary sacrifice contributions
Generally, employees aged over 18 are covered by the SG
Transfers from other super funds
legislation, whether they work full-time, part-time or on
a casual basis. Government co-contributions and the Low Income
Superannuation Tax Offset (LISTO) (if applicable)
2.2 Who isn’t eligible for SG contributions? Positive net investment returns
Here are some of the employee categories which may
-
be excluded from SG contribution requirements:
· employees under age 18 who work 30 hours or less a Fees
week, and Insurance premiums
Taxes
· employees paid to do work of a domestic or private
nature for 30 hours or less a week. Negative net investment returns
Transfers to other super funds
=
Your super account balance
2.4 If you’re a temporary resident
Employers are required to make SG payments on behalf
of temporary residents in the same way as any other
employee unless exempted by law from doing so.
While temporary residents remain in Australia their
superannuation will remain in the fund until they become
entitled to payment of a benefit. The superannuation
benefits of temporary residents can only be withdrawn
under one of the following conditions of release:
· after leaving Australia and their visas have ceased,
· permanent incapacity,
· terminal medical condition, or
· death.
If you’re an eligible temporary resident (not an Australian
or New Zealand* citizen or permanent resident) and you
depart Australia permanently, you can access your super
benefits from the fund if six months has not passed
since you departed Australia and your visa expired.
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Otherwise your account balance will be paid to the All contributions made into super are generally preserved
Australian Taxation Office (ATO) ato.gov.au as unclaimed until you meet a condition of release. Any amounts that
superannuation. Departed former residents will then have were non-preserved benefits as at 1 July 1999 will remain
to claim back their superannuation from the ATO which non-preserved and will not increase unless you transfer or
may be done at any time. Any super benefits paid to eligible roll over other non-preserved benefits into Hostplus.
former residents is subject to the Departing Australia
After meeting a condition of release, you do not have to
Superannuation Payment (DASP) withholding tax upon
cash in your superannuation benefits. You can stay in the
leaving Australia permanently: see Temporary residents
fund as a Hostplus accumulation member or otherwise
departing Australia at hostplus.com.au .
join the Hostplus Pension and continue to enjoy the
Hostplus relies on an Australian Securities and Investments benefits of being a Hostplus member in retirement. And
Commission (ASIC) exemption and doesn’t provide former in the event of your death, the remaining balance of your
temporary resident members whose benefits are paid to account can be paid to your beneficiaries.
the ATO with notices or exit statements at the time of or
If you wish to access your super as you have reached age 60
after the benefits have been paid to the ATO. However,
and are retired or are over the age of 65, you can submit your
if you have queries, you can contact us, and we’ll provide
claim via your Member Online account at hostplus.com.au/
relevant information about your benefit. Hostplus is obliged
memberonline. After you've logged in, select ‘Access my
to pay unclaimed superannuation benefits of a former
super’ under the ‘Super' heading.
temporary resident to the ATO under Division 3 of Part
3A of the Superannuation (Unclaimed Money and Lost
2.7 Early release of your super (other
Members) Act 1999. Once the account has been transferred
conditions of release)
to the ATO, you will need to contact the ATO to claim your
Subject to the Hostplus governing rules, early release of
unclaimed superannuation benefits.
preserved benefits can only be paid to you if you satisfy
Please note: On the date you access your super benefits,
one of the following conditions of release:
or your account balance is paid to the ATO, you will also
· in the event of your death,
lose any insurance cover you may have.
· permanent incapacity,
* KiwiSaver rules apply to New Zealand citizens:
see 2.11.5 UK Pension Transfers and KiwiSaver Transfers. · a terminal medical condition exists,
Claiming your super benefit · on the grounds of severe financial hardship subject
to certain conditions and trustee approval. Log into
If you wish to claim a Departing Australia Superannuation
your account via Member Online at hostplus.com.au/
Payment (DASP) visit Temporary residents departing
memberonline to see if you are eligible. If so, you can
Australia at hostplus.com.au.
submit your claim online.
2.5 Choosing your super fund · on compassionate grounds as approved by the
Super Choice gives eligible workers the ability to choose the Australian Taxation Office (ATO),
fund into which their super contributions are paid. Choosing
· on termination of your employment with an employer
the right fund now can make a lifetime of difference. So it’s very
sponsor where your preserved benefit is less than $200,
important to know if you are eligible and what to do if you are.
· on your permanent departure from Australia if you are
For information on Super Choice, including eligibility,
an eligible temporary resident,
talk to your employer, or call 1300 467 875, 8am – 8pm,
· to pay the ATO an amount in respect to a First Home
(AEST/AEDT) Monday to Friday or go to hostplus.com.au.
Saver Super Scheme (FHSSS) release authority, or
2.6 Accessing your super
· on complying with any other condition of release
The Federal Government has placed restrictions on when specified under superannuation law. See the ATO
you can access your super. Generally, your super benefits website for more information.
are preserved until you:
· reach age 60 and commence a transition to retirement
pension or retire from the workforce
· you have changed employers since turning age 60
· reach age 65 (even if you haven’t retired)
· have been deemed totally and permanently disabled
(subject to trustee approval)
· meet another condition of release (visit the ATO
website for more information).
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2.8 Intra-fund consolidation Binding death benefit beneficiary nominations can generally
only apply to:
Under certain circumstances, a Hostplus member may
have more than one membership account with the fund · your spouse (including de facto, same sex or a spouse
or have a membership in another division of Hostplus. from a relationship registered on the Register of Births and
The fund may automatically merge any duplicate accounts Marriages under State or Territory law),
or memberships you have in other divisions of Hostplus.
· your children (including an adopted child, step child,
The fund may use your TFN as the primary identifier in
ex-nuptial child or eligible child of same sex couples),
this process.
· your legal personal representative (the executor or
When your duplicate accounts are merged, you will be
the administrator of your estate), a nd
notified of your membership number and the division
of Hostplus you are in. You will have 28 days to advise · any person with whom you have an interdependent
Hostplus of your membership preference if you are not relationship.*
happy with the division you have been merged into.
A person must be a dependant on the date of your death to
You will retain the highest level of insurance cover you be considered a beneficiary.
hold and this will be transferred into your merged account
You can nominate beneficiaries by completing the
unless you tell us otherwise.
Binding death benefit nomination form available at hostplus.
com.au/super/forms-and-brochures.
2.9 Death benefit nominations
Binding nominations expire every three years. However,
How does Hostplus determine to whom your death
Hostplus will contact you prior to their expiry so you
benefit is payable?
can update/cancel or change your nomination(s).
In the event of your death, the trustee may pay a benefit
Your current beneficiaries will also be shown on your
to your beneficiaries, such as dependants or legal personal
annual statements.
representative (the executor or administrator of your
* Two people are in an interdependent relationship if:
estate). If the trustee has not found a dependant or a legal
· they have a close personal relationship,
personal representative, the death benefit payment may · they live together,
be made to another person, subject to Superannuation · one or each of them provides the other with financial support, and
Law requirements. · one or each of them provides the other with domestic support
and personal care.
A dependant for superannuation purposes (as opposed to tax An interdependent relationship also exists if two people have a close
purposes), includes a spouse (including de facto, same sex personal relationship but the other requirements are not satisfied because
or a spouse from a relationship registered on the Register of a physical, intellectual or psychiatric disability.
of Births and Marriages under State or Territory law), your
We highly recommend you review your nomination(s)
children (including step, adopted, ex-nuptial or eligible children
if your circumstances change, such as if you divorce,
of same sex couples), or in an interdependent relationship
separate, re-marry, have children or experience the
with you at the time of your death.
death of a beneficiary.
You can nominate your dependants or legal personal
Non-binding death benefit nominations
representatives as the persons or person to whom you’d like
If you elect to make non-binding nominations, the trustee
your super benefits to be paid in the event of your death at any
will take into consideration your nomination but will not be
time through your Member Online account at hostplus.com.au
bound to follow it.
See 3.8 Member Online – your online super account
You can nominate or change your non-binding
at Hostplus
beneficiaries at any time through your Member Online
In the event of your death, the recipient(s) of your death
account at hostplus.com.au.
benefit will be determined according to whether you have
The trustee is required to take reasonable steps to identify
nominated your beneficiaries as binding or non-binding.
and pay the benefits to your potential beneficiaries, after
Binding death benefit nominations taking relevant factors into account. These may include
A binding death benefit nomination provides you with the nature of your relationship(s) with your beneficiary(ies)
greater certainty about who will receive your benefit in the and their financial dependence, or otherwise, at the time
event of your death. In general, a binding nomination legally of your death.
binds (instructs) the trustee to pay your death benefit to the
person(s) nominated as your beneficiary(ies).
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The trustee would normally pay the death benefit to: 2.10 Lost members, unclaimed money and
· one or more of your dependants – spouse (including inactive low-balance accounts
de facto, same sex or a spouse from a relationship
The ATO has established a lost member and unclaimed
registered on the Register of Births and Marriages
money register, containing details of the superannuation
under State or Territory law), children (adopted children,
accounts for members that funds cannot locate and
step-children, ex-nuptial children or eligible children of
certain members for whom contributions have ceased.
same sex couples)
All superannuation funds provide details of lost members
· any person with whom you have an interdependent and transfer their accounts to the ATO on a twice
relationship*, and/or yearly basis.
· your legal personal representative (the executor or The following type of accounts will be deemed lost or
administrator of your estate). unclaimed and transferred to the ATO:
Before paying out a death benefit, the trustee will What’s a What’s an
consider any beneficiaries you have nominated, the ‘lost super’ account? ‘unclaimed super’ account?
information provided by any dependants, your legal A super account which hasn’t A super account owned by a
personal representative(s) and your will (if you have one). had any contributions or member aged over 65, who has
rolled over amounts added not made contact with the fund
Please note: A valid binding death benefit nomination
to it in the past 12 months. for more than five years and to
overrides any preferred beneficiary nomination(s) you which no contributions were
have made previously. made in the last two years.
* Two people are in an interdependent relationship if: AND OR
· they have a close personal relationship, The super fund has never An account owned by a
· they live together,
had an address (postal or member who has died and
· one or each of them provides the other with financial support, and
email) for the member who the fund’s trustee cannot find
· one or each of them provides the other with domestic support
owns the account, or, the anyone to pay their benefit to.
and personal care.
trustee has made one or more
OR
An interdependent relationship also exists if two people have a close attempts to send written
personal relationship but the other requirements are not satisfied because communications to the An account whose owner
of a physical, intellectual or psychiatric disability. member at the member’s last was a former temporary
known address (or addresses), Australian resident and did
No nomination and the trustee believes, on not claim their benefit within
reasonable grounds, that six months of departure or
If you do not make a nomination or make an invalid
the member can no longer visa expiry.
nomination, the trustee will pay the benefit to your
be contacted at any address OR
dependants and/or legal personal representative, as known to the fund.
An account whose owner
determined by the trustee, at the time of your death.
AND received a family law split and
How are death-related insurance benefits invested the member has not the trustee has been unable
before they're paid? contacted the fund (whether to contact them.
by written communication, OR
If an insurance claim is admitted in relation to your death through the online portal or
An account with a balance of
(a death insurance benefit), this benefit will be quarantined otherwise) within the last
less than $6,000 that belongs
from your super account balance. For any period that 12 months of the member’s
to a member who is ‘lost’.
membership of the fund.
this death insurance benefit is held by the fund before
being paid to your beneficiary(ies), it will not be invested.
The super balance component of any benefit will remain If you think you may fall within these categories, you may want to
check with the ATO to see if you are registered as a lost or unclaimed
invested in your chosen investment option/s, or the
super member. If you have inactive accounts in any other fund, you can
Balanced option if you haven't made a choice.
consolidate them into your Hostplus account.
In addition, you can make enquiries at the ATO if you have lost
contact with a fund and think you may be entitled to a benefit.
Just call 13 10 20 or visit ato.gov.au/super and use myGov to
search for lost super.
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ATO Provision of Details Service What’s more, if you organise your super early, adding just a
little to your account could reap big rewards in the long term.
Hostplus wants to keep in contact with our members
In addition to your employer contributions you can add to your
to provide them with the latest information about their
super in a variety of ways:
super account.
· rolling over super from other accounts into Hostplus – for
To help in keeping a member’s details current, Hostplus uses
more information click here
the ATO Provision of Details Service twice yearly to update our
records where a member is reported as lost, such as: · contributions from your after-tax salary (known as
non-concessional contributions). We will need your Tax File
· Where the current address status is Returned or Unusable
Number to accept personal contributions.
· No current address is recorded
· concessional contributions, such as employer, salary
· Where the current address is active but precedes the latest sacrifice (deducted from your before-tax salary) and
address as supplied to the ATO. personal tax-deductible contributions. Speak with your
Records will not be updated where a current address matches employer to check if you are eligible to make before- tax
the ATO held address or a member has exited the fund. contributions as they will need to arrange this for you.
On receiving the details from the ATO, Hostplus will · Government co-contributions, if you are eligible.
update member contact details such as addresses, · the low income superannuation tax offset (LISTO),
emails and phone numbers. if you are eligible.
Inactive low-balance accounts · your spouse could split their before-tax contributions
All inactive low-balance accounts* are transferred to the ATO with you.
on a twice yearly basis. Your account is considered to be an · spouse contributions if you are eligible
inactive low-balance account if: (see 2.13.5 Spouse contributions).
· it has a balance of less than $6,000; and We can accept personal contributions from you by cheque,
regular direct debit deductions and electronic transfer, subject
· for a continuous period of 16 months, we have not
to you providing us with your valid TFN. Go to Member Online
received a contribution or rollover into your account; and
for payment options.
· you haven’t made any updates to your account details,
You can also make a contribution by BPAY®. Visit
such as changing investment options, insurance cover or
Member Online for payment details or complete the Direct
making or amending a binding death benefit nomination,
Debit authority form available at hostplus.com.au
or you have not provided Hostplus with a declaration
that you are not a member with an inactive low-
2.11.2 Rollovers in
balance amount.
If you have multiple super accounts, you’re probably paying
If your account balance is transferred to the ATO, the ATO multiple fees. By rolling all your accounts into Hostplus, you’ll pay
will try to identify if you have an active super account with just one set of fees. It could save you thousands of dollars over
another fund. If a match is found it will automatically transfer the long term and mean more money for you at retirement.
your balance into that active account.
Hostplus doesn’t charge you to roll existing accounts into
Please note if your account is transferred to the ATO you will Hostplus. But before you cancel existing arrangements
no longer be a member of Hostplus. with another fund, check to see if they charge any exit
* Hostplus super accumulation balances that are part of defined fees/penalties and whether the cancellation will affect
benefit account (Salarylink, Deferred or Old Benefit Member) will not be any related insurance cover.
transferred to the ATO under the inactive low-balance requirement.
You can search to see if you have other super accounts and
2.11 Understanding contributions and rollovers
roll them over to Hostplus. Click here for more information.
2.11.1 Boosting your super
2.11.3 Rollovers out
For many people, SG contributions alone may not be
Ordinarily, Hostplus must generally complete a standard
enough to cover the cost of retirement. That’s why the
rollover as soon as practicable but no later than 3 business days
Government encourages you to maximise your retirement
after receiving the request containing all mandated information.
savings by providing generous tax advantages for extra super
The three day rollover clock starts when Hostplus has received
contributions you make.
a rollover notification that is complete. However, when there
is a blackout period (each January and July), the Fund may not
be able to process rollovers within 3 business days. We’ll post a
notification on the Hostplus website when the blackout period
applies. These are indicative time frames only which may be
subject to change in the future. Additional time may also be
required for rollovers if your funds are invested in Choiceplus.
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11
2.11.4 What if I want to transfer some Under the ‘Tasman retirement savings portability scheme’
if you are living in New Zealand on a permanent basis,
of my super from my Hostplus account
you might be considering transferring your Australian
to another fund?
superannuation benefit to your KiwiSaver account. Our
You may rollover part of your account balance from
‘How to transfer your Super to a KiwiSaver scheme’ guide
Hostplus to another complying super fund if the amount
lists step by step instructions when you are requesting
you transfer does not reduce your Hostplus account
a transfer out of your Hostplus account to a KiwiSaver
balance to less than $6,000.
scheme. You can download the guide from our website
Rolling over your benefit may have an impact on your at hostplus.com.au
insurance cover, as continuation is subject to maintaining
2.12 Non-concessional contributions
sufficient funds to meet insurance premiums. If your
cover lapses, you may need to reapply for insurance cover Non-concessional contributions are generally contributions
and may be subject to underwriting. Automatic cover made by or for a member that are not taxed in the fund.
may recommence in some instances when eligibility For example, they are made from an individual’s after-tax
contributions are received. income. There is a limit on the amount of non-concessional
contributions you can make in a financial year to your super.
Members are free to make multiple transfers provided a
See 2.13.10 Contribution limits.
minimum $6,000 account balance is maintained after any
transfer. If a transfer results in the account balance dropping Non-concessional contributions in a financial
below $6,000 the trustee has discretion whether the year include:
transfer occurs. Consideration will be given on application.
· personal contributions for which you do not claim an
Existing Choiceplus superannuation members may (as income tax deduction,
a once off when commencing a new Hostplus Pension
· contributions your spouse makes to your super
and excluding TTR accounts) transfer their Choiceplus
fund account,
held shares, exchange traded funds (ETFs) and listed
investment companies (LICs) via an asset transfer, without · contributions in excess of your small business capital
the need to sell down. For more information on asset gains tax (CGT) exemption cap amount,
transfers please see the Choiceplus Guide.
· amounts transferred from foreign super funds
(except for amounts included in the fund’s assessable
2.11.5 UK Pension Transfers and
income), and
KiwiSaver Transfers
· contributions made for a member who is under 18 years
UK Pension Transfers
of age that are not employer contributions.
As a result of UK legislative reforms, which took 2.13 Concessional contributions
effect from 6 April 2015, Hostplus is currently unable
A concessional contribution is a contribution that is made
to accept transfers of funds from United Kingdom
by or for you to a complying super fund and is assessable
Pension Schemes.
income of the fund (which means the fund will pay tax on your
behalf). Concessional contributions include SG contributions
Rollovers between Australian Superannuation Funds that
paid by your employer, additional contributions made by your
contain UK benefits may also be unable to be processed
employer, salary sacrificed contributions deducted from
unless made to a QROPS complying fund.
your before tax-salary and personal contributions for which
For more information on the implications of the UK reforms you have claimed a tax deduction. For each financial year,
we recommend you seek advice from an authorised UK there is a cap on the contributions you can receive that are
and Australian taxation adviser. For general information concessionally taxed. See 2.13.10 Contribution limits.
please contact us on 1300 467 875 8am - 8pm weekdays
2.13.1 Salary sacrifice
(AEST/AEDT).
Some employers allow you to make contributions to super
KiwiSaver Transfers
from your before-tax salary. These contributions are
known as salary sacrifice and are subject to contribution
Hostplus does not accept transfers of funds from caps. See 2.13.10 Contribution limits. Making extra super
KiwiSaver accounts, or rollovers from other Funds contributions by salary sacrificing can reward you with tax
that include amounts previously rolled over from a benefits – 15% tax is deducted from your super money,
KiwiSaver account. which is lower than most people’s personal tax rate which
can be as high as 45% (plus Medicare levy).
It is important to note that some employers may not
offer salary sacrifice.
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12
Before entering into a salary sacrifice arrangement you 2.13.3 Increase your super with Government
should seek professional advice and obtain a copy of our co-contributions
Salary sacrifice brochure available at hostplus.com.au/
If you’re a low or middle income earner and you make
forms-and-brochures. Generally, if the average tax rate
voluntary contributions to your super from your after-tax
payable on your income is greater than 15%, you will benefit
pay, the Government may also contribute to your super.
from salary sacrificing in that, the amounts that you sacrifice
This Government payment is called a super co-contribution
will be taxed at 15%. But you must be careful not to exceed
(conditions apply).
the concessional contribution caps.
To ensure that Hostplus is able to process your super co-
2.13.2 Claiming a tax deduction for
contribution, your name, date of birth, address and TFN held
personal contributions
with Hostplus must match the records held with the ATO.
If your employer does not offer salary sacrifice
If there are any inconsistencies Hostplus will be unable to
arrangements you can still contribute extra to super and
accept your co-contribution. Please ensure that your details
enjoy concessional tax benefits by making a personal
are kept up to date. For further information, contact the ATO
contribution from your after-tax salary and claiming a
on 13 10 20 or call Hostplus 1300 467 875.
tax deduction. You can reduce your taxable income and
the amount of income tax you pay by converting non- Are you eligible?
concessional personal contributions into concessional To qualify for the co-contribution you’ll need to:
contributions. However you will have to be mindful not to
· make an after-tax personal contribution to your super up
exceed your contribution limits because you may pay extra
to the non-concessional contribution cap for the relevant
tax. For information about contribution limits see 2.13.10
financial year (if you claim a tax deduction for your personal
Contribution limits. For information about contribution tax
contribution you may not be entitled to a Government co-
see Section 7. How super is taxed.
contribution),
You can only claim a deduction for contributions made
· have a Total Superannuation Balance^ that is less than the
before the 28th day of the month following the month in
general transfer balance cap in the relevant financial year
which you turned 75. If you’re aged 67 to 75, you will need
($1.9 million for the 2024-25 financial year),
to meet the Work Test (i.e. you are gainfully employed for
at least 40 hours in 30 consecutive days during the current · be in full-time, part-time or casual employment,
financial year) in order to make a contribution and claim a or be self-employed,
tax deduction.
· have at least 10% of your total income (assessable income
If you’re under the age of 18, you can only claim a tax and reportable fringe benefits) attributable to eligible
deduction for super contributions if your income comes employment, running a business, or a combination of both,
from operating a business or gainful employment.
· be under 71 years of age,
To claim a tax deduction for personal contributions made
· be a permanent resident of Australia,
you must give Hostplus a notice of intent to claim at the
· have lodged a tax return,
earliest of either:
· have provided your TFN to Hostplus.
· the date you lodge your income tax return for
At the end of the financial year in which you have made
the financial year in which you made a personal
after-tax contributions, all you need to do is submit
contribution; or
your usual income tax return. The ATO will work out any co-
· or at the end of the financial year following the year
contribution amount you would receive and forward it to your
in which you made the personal contribution.
Hostplus account.
You can submit your request to claim a tax deduction
Your maximum super co-contribution depends on your
by logging in to your Member Online account at
income. If your income is equal to or less than the lower income
hostplus.com.au and selecting ‘Claim a tax deduction’
threshold ($45,400 for the 2024-25 income year) you can get
under the ‘Super’ heading.
a co-contribution of up to the full ‘maximum entitlement’. For
If you’re unable to submit your claim for a tax deduction online, every dollar that you earn above the lower income threshold,
you can complete the Notice of Intent to Claim Form available your maximum entitlement is reduced by 3.333 cents.
from our website and email your completed form to info@
You cannot get a super co-contribution if your income is at or
hostplus.com.au or send via mail to Hostplus, Locked Bag
above the higher income threshold ($60,400 for the 2024-25
5046, Parramatta NSW 2124.
income year).
Hostplus is required to acknowledge your request before you
are able to claim a tax deduction. Please note Hostplus should
receive the notice prior to making any benefit payment or
rollover(full/ partial) from your account.
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13
The amount of your super co-contribution depends on the Are you eligible?
amount of non-concessional (after-tax) contributions you put
You can make contributions for your spouse as long as you
into super and the ‘matching rate’ for the financial year you
are living together and you are both Australian residents.
made the contribution.
A spouse is:
You can find out how much you may be eligible for with the
· a person who is legally married to you,
super co-contribution calculator at the ATO website.
· a person who lives with you on a genuine domestic basis in a
^Your Total Superannuation Balance is the total value of your
relationship as a couple, or
accumulation and retirement phase interests (including rollover
amounts not yet included in those interests) across all of your
· a person (whether the same sex or different sex) with whom
superannuation accounts, reduced by the sum of any structured
settlement contributions. you are in a relationship that is registered under law of a State
or Territory.
If you have more than one superannuation account
Government regulations don’t allow spouse contributions if
To ensure your super co-contribution is invested in your you are your spouse’s employer or a couple living apart on a
Hostplus account, you must complete a Superannuation permanent basis. If you stop living with your spouse, you’re not
fund nomination form and return it to the ATO. Nomination eligible to continue making spouse contributions.
forms are available from the ATO by calling 13 10 20 or at
The receiving spouse must be under 75 years of age.
ato.gov.au.
Each time you make a spouse contribution, you must confirm
2.13.4 Low Income Superannuation that you and your partner are still living together and you still
Tax Offset (LISTO) meet the eligibility criteria.
The LISTO provides a contribution equal to 15% of Adding up your rebate
total concessional contributions made for low income For every dollar of spouse contributions, you can claim
earners with an adjusted taxable income of up to $37,000. 18% of the contribution as a tax rebate – up to a maximum
The maximum LISTO that can be paid is $500 and the rebate of $540 a year (based on a $3,000 contribution) if the
minimum $10 (not indexed). Eligibility is determined by the receiving spouse’s total assessable income (plus reportable
ATO who will make the payment directly to a member’s fringe benefits amounts and reportable employee super
super account. contributions, if any) is less than$40,000 for an income year.
A person is entitled to the low income superannuation Tax offsets will not be available if the receiving spouse has
tax offset if they satisfy the following requirements: exceeded their non-concessional contributions cap in the
relevant financial year or they have a total superannuation
· the individual has concessional contributions for the
balance^ equal to or exceeding the transfer balance cap as
year made to a complying super fund,
at 30 June before the start of the financial year in which the
· the individual has not exceeded the transfer balance
contribution was made.
cap or non concessional contributions cap.
To calculate the amount of tax offset you can receive for
· the individual’s adjusted taxable income does not
contributing to an eligible spouse, multiply 18% by the lesser of:
exceed $37,000,
1. $ 3,000 less the amount by which total spouse income
· the individual is not a holder of a temporary resident visa
exceeds $37,000; or,
(New Zealand citizens in Australia do not hold a temporary
2. t he sum of the spouse contributions made in a given
resident visa and as such, are eligible for the payment),
financial year.
· the individual satisfies an income test in which 10%
or more of their total income is derived from business
For example, Mia contributes $3,000 on behalf of her
or employment.
spouse David who earns $38,000 per year.
2.13.5 Spouse contributions
The tax offset is calculated as 18% of the lesser of:
Contributing to your spouse’s super could have big $3,000 less every dollar over $37,000 that David earns
benefits. For instance, if your spouse is a low income ($3,000 - $1,000); or,
earner or doesn’t work, you can earn a tax rebate of up to
The value of the spouse contribution ($3,000).
$540 a year for contributions you’ve made on their behalf.
In this example, $2,000 is the lesser figure and so, Mia is
It doesn’t matter how much you earn. Of course, there’s
entitled to a $360 tax offset ($2,000* 18%).
the long term benefit of building a valuable retirement
nest egg, too.
^ Your total superannuation balance is the total value of your accumulation
and retirement phase interests (including rollover amounts not yet included
in those interests) across all of your superannuation accounts, reduced by
the sum of any structured settlement contributions.
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14
2.13.6 What contributions can be made and when
For contributions made on or after 1 July 2024 the following rules apply.
Member age
Under 75 75 and over**
Personal Any person, irrespective of their work status, may make personal Not allowed.
Contributions contributions.
Spouse* Can be made at any time, irrespective of the age and employment status of Not allowed.
Contributions the receiving spouse.
Downsizer Eligible Australians aged 55 or older (there is no maximum age) can make a ‘downsizer contribution’ of up
Superannuation to $300,000 each into their superannuation where the proceeds come from selling their home. For more
Contributions information see 2.13.9 Downsizer superannuation contributions.
An employer can make: An employer can only
make mandated employer
· mandated employer contributions (including SG and award contributions),
Employer contributions.
and
Contributions
· additional employer contributions (over and above the mandated
contributions such as salary sacrifice).
* In order to make spouse contributions, the person contributing and the person receiving the contribution must satisfy the definition of a spouse.
A spouse includes: a person (whether of same or opposite sex) with whom the person is in a relationship that is registered under the Register of
Births and Marriages under State or Territory law, or a person, who although not legally married to the person, lives with the other person on a genuine
domestic basis in a relationship as a couple. You and your spouse must not be living separately on a permanent basis at the time you contribute.
** In the 28 days after you turn 75 years old, the fund can accept the following types of contributions: voluntary employer contributions, such as salary
sacrifice contributions, personal contributions and spouse contributions.
2.13.7 Super splitting
Example
While super funds aren’t required to offer super splitting,
Hostplus offers the benefits of super splitting to members On 1 July 2024, Adam’s superannuation account had
to help boost your spouse's super savings. Under Hostplus $50,000. During the period 1 January – 30 June 2024,
super splitting rules, eligible funds can be split between Adam received $5,000 in employer contributions.
spouses and de facto couples after the end of each
He also made a personal contribution of $2,000 in
financial year. Split contributions will be transferred from the
March 2024, as well as rolling over $10,000 from a
member’s Hostplus account to their spouse’s or de facto’s
previous complying superannuation fund.
Hostplus account where they will be fully preserved. Split
funds will be allocated in arrears once a year. The amount that Adam can split with his wife, Sarah, is:
Only concessional contributions (employer SG, salary 85% of $5,000 = $4,250 (employer contributions)
sacrifice, additional employer contributions and deductible
Total = $4,250
contributions) are eligible for super splitting with a spouse.
You can split up to 85% of these concessional contributions. The $2,000 personal contribution made in March 2024
and the $10,000 rollover are not eligible for splitting.
You cannot split:
· personal after-tax contributions,
A $60 contribution splitting fee will be payable by the
· amounts rolled over or transferred from another splitting member for each transaction which will be
fund, and deducted from the member’s account. The fund needs
to receive contribution splitting advices by 31 May of the
· amounts subject to a family law payment split.
current year for the previous financial year’s contributions.
To find out more about super splitting, call Hostplus
1300 467 875. The split amount must be more than
$1,000. A member’s account balance cannot be less than
$1,000 after the split. You may also consider seeking
advice from a licensed financial adviser.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
15
2.13.8 First Home Super Saver Scheme (FHSSS) 2.13.9 Downsizer superannuation contributions
The Australian Government’s FHSSS is designed to help Eligible Australians aged 55 or older can make a
more first home buyers get into the property market. ‘downsizer contribution’ of up to $300,000 each into their
superannuation where the proceeds come from selling
You can make eligible voluntary contributions into your
their home.
super up to a maximum of $15,000 a year with a $50,000
lifetime limit. This extra money can then be used to This measure applies to the sale of your home, which must
calculate any associated earnings by the ATO that you can be your main residence.
withdraw, together with the eligible voluntary contributions,
Existing contribution caps and restrictions do not apply to
and use towards the purchase of your first home.
the downsizer contribution, so it can be a great way to make
Eligible voluntary contributions made from 1 July 2017 can the most of your super.
be withdrawn from 1 July 2018 and will not impact your
Am I eligible?
social security entitlements.
To qualify for the downsizer contribution, you must meet all
Participants in the FHSSS must:
of the following criteria:
· be aged 18 years or older,
· You are at least 55 years old when you make the
· have never owned a property before and, downsizer contribution (there is no maximum age limit);
· have never previously requested a release · You are contributing to super from the sale of your home;
authority in relation to a First Home Super Saver
· You or your spouse owned your home (which was not a
Scheme determination.
caravan, houseboat or other mobile home) in Australia
Please note: If you have previously owned a home and for 10 or more years before the sale;
suffered a financial hardship, you may still be eligible to
· Your home is in Australia and is not a caravan, houseboat
participate in the FHSS scheme subject to ATO’s approval.
or other mobile home;
When you are ready to withdraw the money from your
· Any gain or loss on the sale of the home has qualified (or
super account under the FHSSS, you can apply to the ATO
would have qualified if the home was a pre-CGT asset)
online using your myGov account. The ATO will work with
for the main residence CGT exemption in whole or part;
you and Hostplus to help you determine the amount that
can be withdrawn from your super account to buy your · You chose to treat the contribution as a downsizer by
first home. completing and sending a Downsizer Contribution form
to Hostplus;
At the time of your application, the ATO will calculate and
apply any earnings that can be released. You can only apply · You make the contribution within 90 days of selling your
to release the money under this scheme once. home (generally date of settlement), or such longer time
as allowed by the ATO; and
Salary sacrifice contributions and personal contributions
claimed as a tax deduction, together with associated · You have not previously made a downsizer contribution.
earnings are taxed at 15%. When withdrawn as part of the
Existing restrictions do not apply
FHSSS the total amount will be taxed at the marginal tax
rates less a 30% tax offset. If you are aged 55 or over and qualify you won’t be restricted
from making a downsizer contribution if you:
For more information about the FHSSS please visit
First home super saver scheme at the ATO website. · are not working;
· are aged 75 or over;
· have a total super balance of $1.9 million; and,
· have maxed out the non-concessional contribution cap.
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16
Things to note
· Buying and selling a home attracts costs and stamp duties.
· Your Age Pension entitlements may be reduced or lost.
· If your downsizer contribution to Hostplus is ineligible, it may be returned to you or be treated as an excess non-
concessional contribution subject to additional tax.
· You cannot claim a tax deduction for a downsizer contribution.
· You can only make one downsizer contribution in your lifetime.
Existing contribution caps and restrictions will not apply to downsizer contributions; however, it will count towards your
personal transfer balance cap if you move your super to a retirement phase. The general transfer balance cap is currently
set at $1.9 million. Your personal transfer balance cap may vary. For information on your personal transfer balance
account, please refer to your myGov account.
Also if your total superannuation balance exceeds the general transfer balance cap ($1.7 million from 2021–22, $1.9 million
from 2023–24) on 30 June of the previous financial year, you will not be eligible to increase your non-concessional contributions
cap by bringing forward caps from the next 1 or 2 years.
For more information about downsizer contributions please visit Downsizing contributions into superannuation at the
ATO website.
2.13.10 Contribution limits
Contribution type Caps for the 2024-2025 Financial Year
$30,0001
Concessional contributions If you don’t reach your annual concessional contributions cap, you may carry forward the
unused portion of your cap for up to 5 years, provided your total superannuation balance
is less than $500,000. After 5 years unused amounts carried forward will expire.
$120,0002
You must have a total super balance^ of less than the general transfer balance cap
($1.9 million for the 2024-2025 financial year) on 30 June of the previous financial year
to be eligible to make a non-concessional contribution in the relevant financial year.
If you are aged under 75, you may be eligible to bring forward your non-concessional
contribution of up to three times the annual non-concessional contributions cap in a
single year. The amount of non-concessional contributions that can be brought forward
in the 2024-2025 financial year will depend on your total super balance at the end of the
previous financial year.
Non-concessional contributions If your total super balance is less than $1.66 million, your non-concessional contributions
cap for the first year is $360,000 with a bring forward period of 3 years;
If your total super balance is $1.66 million to less than $1.78 million, your non-
concessional contributions cap for the first year is $240,000 with a bring forward period
of 2 years;
If your total super balance is $1.78 million to less than $1.9 million, your non-
concessional contributions cap for the first year is $120,000 with no bring forward
period; and,
If your total super balance is $1.9 million or more, you cannot make any non-
concessional contributions.
^Your total superannuation balance is the total value of your accumulation and retirement phase interests (including rollover amounts not yet
included in those interests) across all of your superannuation accounts, reduced by the sum of any structured settlement contributions.
1. This amount is indexed to Average Weekly Ordinary Time Earnings, but only increases in increments of $2,500.
2. The non-concessional cap is indexed as concessional contributions cap in line with Average Weekly Ordinary Earnings.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
17
2.13.11 Maximum superannuation Unrestricted non-preserved benefit when you have
contribution base not reached a condition of release
You may withdraw the unrestricted unpreserved benefit at
This is the maximum limit used to calculate the SG
any time regardless if you have met a condition of release.
contributions on any employee’s earnings base for
You are not obliged to take this benefit as there may be
each quarter of the financial year. Generally, employers
tax implications and if you want you can simply retain your
do not have to pay SG contributions for any earnings
benefit in the fund. Check your latest Hostplus member
above this limit unless the terms of your employment
annual statement to find out if you have an unrestricted
provide otherwise (for example, under your contract of
non-preserved benefit component.
employment, any applicable award or other industrial
agreement). For the 2024– 2025 income year the If you wish to access your super as you have unrestricted
maximum contribution base per quarter is $65,070. non-preserved benefits you can submit your claim
through Member Online at hostplus.com.au/
2.13.12 Contribution payment options
memberonline. After logging in, select ‘Access my super’
Hostplus offers the following payment methods: under the ‘Super' heading.
Payment How You need to Termination of employment benefit
type
You may withdraw your super if you stop working for a
Online through your Visit Member Online
standard employer-sponsor who contributes on your
bank account or by at hostplus.com.au for
BPAY® behalf to Hostplus, and you have a total preserved benefit
phone banking. your reference number.
of less than $200 at the time of the termination. You must
Or call 1300 467 875
be an Australian citizen or permanent resident.
Send a completed Send a completed
Direct Debit Direct Debit authority You can submit your withdrawal through Member Online
authority form form available at
at hostplus.com.au/memberonline. After logging in,
Direct available at hostplus. hostplus.com.au/forms
select ‘Access my super’ under the ‘Super' heading.
debit com.au/forms to:
Locked Bag 5046, Death, Total & Permanent Disability (TPD) and
Parramatta Terminal Illness benefit
NSW 2124
In the event of your death, your account balance and
Payroll Deducted from your Arrange with your
any insured benefit (if applicable) will be paid to your
deduction after-tax salary. employer.
dependents or legal personal representatives, or, if
® Registered to BPAY Pty Ltd ABN 69 079 137 518
neither are available, to other beneficiaries, subject to the
2.13.13 Types of benefits law's requirements.
There are a number of benefits you may receive, subject to See Section 2.9 Death benefit nominations.
meeting the applicable criteria, including:
If you become totally and permanently disabled or a
terminal illness exists (and you provide the trustee with
Retirement benefit
the required documentation) you may be eligible to
Your super balance may be payable to you when you retire
receive your account balance and any insured benefits
permanently from the workforce. Your balance may also
(if applicable) before you otherwise meet a condition
be paid to you if you leave your employer after age 60
of release.
irrespective of whether you are retiring permanently from
the workforce. Death, TPD and terminal illness benefits can be paid as
a lump sum or a pension.
Once you attain age 65 you can access your super funds
even if you have not yet retired from the workforce, as a lump To find out more about insurance cover, go to Section 8:
sum. Or you can stay in the fund as a Hostplus member or Insurance in your super.
otherwise join the Hostplus Pension and continue to enjoy
Income protection benefit
the benefits of being a Hostplus member in retirement.
And in the event of your death, the remaining balance of If you have income protection and are temporarily totally
your account can be paid to your dependants, estate or, or partially disabled, you may be eligible to receive income
if neither is available, to other beneficiaries, subject to the protection benefits. Income protection benefits are
law's requirements. generally paid on a monthly basis.
If you wish to access your super as you have reached age To find out more about insurance cover, go to Section 8:
60 and retired or are over the age of 65, you can submit Insurance in your super.
your claim through Member Online at hostplus.com.au/
memberonline. After logging in, select ‘Access my super’
under the ‘Super' heading.
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18
2.14 Proof of identity Part A – What supporting documentation
is required?
2.14.1 What are the proof of identity
For all cash withdrawals or rollovers to Self-Managed
requirements when I rollover or withdraw
Super Funds (SMSFs) please submit documents from
my benefits
the list below:
Under the Anti-Money Laundering and Counter Terrorism
Financing Act superannuation funds are required to Primary document
identify, monitor and mitigate the risk that the fund may Certified copy of any ONE of the following documents:
be used for the laundering of money or the financing
· Current drivers licence or learners permit issued by
of terrorism. Because of this you may be required to
a State or Territory of Australia with your photograph
provide certified proof of identity before you withdraw,
(both sides).
rollover your benefit from the fund or commence
an income stream^. You will need to provide identity · Passport issued by the Commonwealth of Australia
documents when you are rolling to a SMSF. At a minimum, that has not exceeded 2 years of the expiry date.
you may be required to provide the fund with evidence (Information and photo page)
that verifies your full name, your date of birth, and your
· Current Foreign passport containing a photograph
residential address.
and the signature of the person. Documentation not
In the event of a death claim, we would also require written in English must be accompanied by an English
documentation to verify dependants and/or legal personal translation prepared by an accredited translator
representatives’ identities. These may include, but are not National Accreditation Authority for Translators and
limited to, certified copies of marriage certificates, wills, Interpreters (NAATI)
birth certificates and letters of administration.
· Card issued under a State or Territory for the purpose
The trustee also reserves the right to request additional of containing a photograph of the person AND date of
information. If you do not provide this information your birth of the person, eg. proof of age card or key pass,
payment may be delayed or refused. boat licence
^ Generally, identity documents are not required if you are rolling over
OR
between APRA regulated funds.
Secondary documents
2.14.2 Providing proof of identity
Certified copies of any one of the documents from List 1
When submitting forms to Hostplus you may be required to
and a certified copy of one of the documents from List 2 :
provide documentation so we can prove you are the person
to whom the superannuation belongs to. You are required List 1
to provide certified copies of proof of identity documents in
· Birth certificate or birth extract issued by a State or
certain circumstances. (For example: when withdrawing
Territory of Australia
your benefit).
· Citizenship certificate issued by Commonwealth
We are required to utilise the SuperTICK service
of Australia
provided by the ATO to validate member information
when processing rollover requests. As a result we will · Medicare Card
only contact you if we have been unable to validate
· One of the following Centrelink Pension Cards:
your information or if you have requested a rollover to
a Self-Managed Superannuation Fund (SMSF). In these - Health Care Card
circumstances you may be required to provide evidence - Commonwealth Seniors Health Card
that verifies your full name, date of birth and residential - Pensioner Concession Card
address before we process your request. To help you
· Indigenous community card with your photograph
provide the right documentation, please take a moment
issued by Australian government or local indigenous
to carefully read the information provided below:
community organisation.
· Part A - What supporting documentation
is required?
· Part B - Who can certify a document?
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
19
List 2 Part B – Who can certify a document?
· A letter from Centrelink regarding your government Only certain people are authorised to certify identification
assistance payment (less than 3 months old) containing documents. For a complete list of people permitted
your full name and residential address to certify documents go to hostplus.com.au/id. A few
common examples are:
· Utility bill (less than 3 months old) containing your full
name and residential address · Police officer
· Rates notice from local council (less than 12 months old)
· Agent of the Australian Postal Corporation who is in
containing your full name and residential address
charge of, or a permanent employee with two or more
· Notice of assessment from the Australian Taxation Office years of continuous service with, an office supplying
(less than 12 months old) containing your full name and postal services to the public
residential address.
· Pharmacist
For members under the age of 18:
· Legal practitioner
· A written notice issued by a school principal containing
your full name, residential address that records the period · Medical practitioner
of time the individual attended the school (issued within
· Justice of the Peace.
the last 3 months).
Member residing overseas
Important Information for Indigenous Australians
For members residing overseas, the only persons who
If you are a member with Indigenous Australians and/or
are authorised to certify identification documents are:
Torres Strait Islander heritage and unable to meet the above
mentioned supporting document requirements please refer · An Australian Consular Officer or Australian Diplomatic
to hostplus.com.au/super/about-us/rap for alternative Officer (within the meaning of the Consular Fees Act 1955)
identification requirements. · An employee of the Commonwealth or the Australian
Trade Commission who is authorised and exercises his
Change of name
or her function in that place
Your name must be the same as shown on your proof
· A person authorised as a notary public in a
of identity. If you have changed your name you will need
foreign country.
to provide a certified copy of one of the following ‘linking
documents’ from the Registry of Births, Deaths & Marriages For further information relating to the certification
in addition to the certified ID requirements as above: of documents, refer to the Identification
Requirements document.
· Marriage Certificate
· Divorce Certificate The information in this Section contains general advice only and does
not take into account your personal objectives, financial situation or
· Deed poll or change of name certificate from the Registry needs. You should consider if this information is appropriate for you
of Births, Deaths and Marriages. in light of your circumstances before acting on it. You may also find
it beneficial to obtain advice from a licensed financial adviser. Past
Signing on behalf of a member performance is not a reliable indicator of future performance. For
a description of the target market, please read the Target Market
If you are signing on behalf of a Hostplus member, you need Determination (TMD), available at hostplus.com.au/ddo
to provide a certified copy of one of the following in addition While every care has been taken to ensure that the information in this
to the certified ID requirements as above: document is correct, Hostplus reserves the right to correct any error or
misprint in respect of the information shown. Any updated PDSs will be
· Power of Attorney available on our website at hostplus.com.au.
Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as
· Guardianship paper. trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657
495 890, MySuper No. 68657495890198.
Signing on behalf of a minor
As part of the identification process you will need to
verify the identity of any minor you are signing on behalf
of by providing either one document from List 1 or two
documents from List 2:
If the member is under the age of 18 the parent or legal
guardian will need to sign the application on the member’s
behalf and provide one of the following certified documents:
· Birth certificate
· Power of Attorney
· Guardianship papers.
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Section 3.
Benefits
of investing
with Hostplus
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
21
3.4 Competitive insurance cover
Section 3. Benefits
Right now, your most valuable assets are your health,
of investing with family and your income earning potential. Protecting
these assets is an important part of a smart financial plan.
Hostplus So Hostplus gives you access to four key types of
insurance cover:
· Death and Total & Permanent Disablement (TPD)
insurance cover,
Hostplus is highly regarded, having been awarded some
of the most prestigious accolades in the industry. All of · Death Only insurance cover,
which means your super is in good hands. Best of all, even
· TPD Only insurance cover, and
if you change jobs or leave the industry, you can still stay
with Hostplus and continue to enjoy the benefits of being · Income Protection (also known as Salary Continuance)
a member. insurance cover.
Hostplus is authorised to offer a MySuper product Any death insurance includes Terminal Illness cover.
(Balanced investment option) a straightforward option
If you are eligible, Hostplus automatically provides
that suits most members. You’ll find our MySuper Product
age-based Death and TPD cover.
Dashboard at hostplus.com.au/dashboard.
When your automatic cover commences you may also
3.1 We're run to benefit our members have the opportunity to apply for additional death, Total &
Permanent Disablement and Income Protection insurance
We’re an industry super fund, we offer low administration
with reduced underwriting requirements.
fees and we’re run to benefit our members.
Refer to Section 8: Insurance in your super for further
3.2 We offer low administration fees
information on our insurance offering.
Hostplus members pay an administration fee of $1.50 per
week. An additional $37.26* per member is also deducted 3.5 Insurance for Personal Super Plan
from the Fund’s Administration Reserve during the year Eligible Hostplus Personal Super Plan members receive
and not directly from members' account balances. Like automatic Death and Total & Permanent Disablement
most super funds, investment costs also apply. (TPD) cover.
*This is an estimate based on the previous financial year. Because the
You can apply for different types of insurance or higher
fees and costs are estimates based on the previous financial year’s, fees
and costs payable in respect of each future year may be higher or lower. levels of insurance once your membership has commenced
through your Member Online account at hostplus.com.au.
3.3 Competitive returns
Interim insurance arrangements apply while the insurer is
We aim to achieve competitive, long-term investment assessing your insurance application.
performance for members.
Refer to Section 8: Insurance in your super for further
Our Balanced investment option is ranked number one information on our insurance offering.
versus peers over 10 and 20 years. Source: SuperRatings
3.6 Income Protection Cover for certain
Accumulation Fund Crediting Rate Survey - SR50 Balanced
members employed by a Club Super
(60 -76) Index, April 2024.
default employer
Past performance is not a reliable indicator of future
If you are joining Hostplus through an employer who was
performance and should never be the sole factor
previously a default employer of Club Super (Club Super
considered when selecting a superannuation fund.
Default Employer) you automatically receive Income
Protection insurance.
Refer to Section 8: Insurance in your super for further
information on our insurance offering.
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22
3.7 Your investment strategy – Submit requests for benefit payments
your investment choice
· subject to eligibility, make a request to withdraw your
Hostplus gives you a choice from a wide range of investment super through Member Online
options, offering a variety of investment strategies to suit your
Request to claim a tax deduction
investment time frame, long-term goals and risk profile – from
growth asset classes, like shares and property, to defensive · you can submit your request to claim a tax deduction in
asset classes, like fixed interest and cash. relation to non-concessional contributions by logging in
to your Member Online account.
Choiceplus allows you to invest in Australian shares (S&P/ASX
300 index), selected Exchange Traded Funds (ETFs) and Listed
3.9 Financial Planning
Investment Companies (LICs) and term deposits. You can
Financial advice can help you now, and into the future.
register for Choiceplus through your Member Online account.
Take the stress out of the unknown by working with a team
To choose how your super is invested, make your investment of experienced and licensed financial planners who will
choice online through your Member Online account at provide you the confidence, guidance, and clarity you
hostplus.com.au. need to help setup, and meet, your financial goals.
You can always change your investment choice free of charge. At Hostplus, in addition to having the option to engage
an external financial planner of your choice for a fee, we
If you prefer not to choose at all, we’ll invest your
offer a range of options to ensure you get the right level of
contributions in the Hostplus Balanced option – the default
advice to suit your changing needs:
investment option.
· easy-to-use DIY digital advice through SuperSmart
Find out more about investments and investment options at
hostplus.com.au/investments · over the phone, personalised superannuation advice
3.8 Member Online – your online super · you can meet with an expert Financial Planner for
specialised advice on planning for retirement.
account at Hostplus
You can check and manage your account online via Superannuation Advisers1 can help you with limited advice,
Member Online at hostplus.com.au 24 hours a day, included in your membership, covering the following areas
seven days a week. Or download the Hostplus App at about your Hostplus account:
hostplus.com.au/app/download.
· Investment Choice – Select an investment option that
Naturally, your account is protected by its own password and best suits your risk appetite
other forms of security such as two factor authentication,
· Contributions – Advise you the most effective way to
which you will set up during registration. You can use
make additional contributions to your super
Member Online to:
· Insurance – Determine how much and what types of
Review your account balance, investments and Hostplus insurance you need.
insurance online
Superannuation Advisers can also provide personal advice,
· get an estimate of your account balance, and for a fee, on:
review your transactions for the previous two
· Consolidating your super,
reporting periods.
· Insurance outside your Hostplus account, or the
· check your account balance and investment options.
· First Home Super Saver Scheme (FHSSS).
· you can also apply to increase or change your
If, however you are starting to consider your broader
insurance cover.
financial needs, our experienced Financial Planners1 have
· your Choiceplus investments can be monitored specialist knowledge to help you (and if relevant, your
through the dedicated online Choiceplus platform partner) achieve the retirement you want. This can include:
accessed via your Member Online account.
· providing options to transition from work to the
Top-up your super retirement phase,
· make additional contributions to your Hostplus · creating an income in retirement
account, quickly and easily, by BPAY® and direct debit.
· maximising your Centrelink entitlements, including the
Home Equity Access Scheme
Update your personal details
· aged care options, and
· advise us of changes to your personal details, including
a change of address or beneficiary, or notification of · estate planning, to ensure your money goes where you
your Tax File Number. intend upon your passing.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
23
Our flexible pricing structure, starting from $295, gives 3.11 Communicating with you
you more control by helping you to understand if you’re
On joining, you will receive your welcome letter. Any disclosure
on track for retirement. You can then decide if you’d like
required to be provided to you by law will be made available
to continue the personal advice journey and pay more to
on the website or other Hostplus digital facilities.
receive tailored comprehensive financial advice2, with your
Hostplus financial planner ensuring you understand and Hostplus issues annual statements for the period 1 July
agree with the advice and services to be provided. to 30 June (generally available in September) showing all
transactions, switches and beneficiary details. You can
To arrange a meeting with a Hostplus planner, simply
view your annual statements on Member Online.
call Hostplus 1300 303 188 or visit hostplus.com.au/
members/our-products-and-services/financial- We will let you know via your nominated contact details when
planning-and-advice/speak-to-a-financial-planner your statement is available and how you can access it. If you
and book through our Hostplus Financial Advice Website would prefer us to mail your full statement to you, you can
Enquiry form. request this any time by calling us on 1300 467 875, or updating
your communication preferences on Member Online.
1. Hostplus has engaged Industry Fund Services Limited (IFS) ABN 54
007 016 195, AFSL 232514 to facilitate the provision of financial advice If you opt out within seven days of the date of this
to members of Hostplus via Hostplus financial planners and the web-
notification, any disclosures already delivered digitally
based product SuperSmart*.
will be sent to your nominated contact details*.
Hostplus financial planners are Authorised Representatives of IFS and
fees may apply for personal financial advice; for further information
Confirmation of investment transactions will also be made
about the cost of personal advice, you can speak with your Hostplus
financial planner or visit our website hostplus.com.au available to you via Member Online.
Information to help you decide whether you want to use personal
You can access our annual report online at hostplus.com.au
financial advice services being offered is set out in the relevant IFS
Financial Services Guide, copies are available from your Hostplus which is available between September and December
financial planner or SuperSmart. each year.
*Due to complexities associated with certain member accounts, some
In the event of significant change to products and services
SuperSmart advice journeys may be unavailable for some members. If
you're unable to access an applicable SuperSmart advice journey, please relating to your account Hostplus will email you the details
contact us 1300 303 188 and we can help you with other options. relating to the changes. If we do not hold your email address
2. Depending on your needs, these fees will generally range between we will write to you.
$1,500 and $6,000
You may receive occasional marketing communications from
3.10 Paying for financial advice
Hostplus to keep you up to date on products and services
As a Hostplus member, if you receive personal financial (for which you can opt out).
advice from a Hostplus financial planner or an externally * We can send notification and disclosures to you at a different
licensed financial planner registered with Hostplus, you electronic or postal address. Please update your contact details by
calling us or logging into Member Online.
may elect to pay advice fees from your superannuation
The information in this Section contains general advice only and does not
account. You can elect to deduct all or a portion of the
take into account your personal objectives, financial situation or needs.
advice fee from your Hostplus account where it relates
You should consider if this information is appropriate for you in light of
solely to your interest in Hostplus. your circumstances before acting on it. You may also find it beneficial to
obtain advice from a licensed financial adviser. Past performance is not
A minimum account balance must be retained in your a reliable indicator of future performance. For a description of the target
Hostplus account after the deduction of the fee is applied market, please read the Target Market Determination (TMD), available at
hostplus.com.au/ddo
and the fee is subject to annual caps.
While every care has been taken to ensure that the information in this
For further information, please refer to our Advice Fee Fact document is correct, Hostplus reserves the right to correct any error
or misprint in respect of the information shown. Any updated PDSs will
Sheet hostplus.com.au/advice-fee
be available on our website at hostplus.com.au.
Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as
trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657
495 890, MySuper No. 68657495890198.
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Section 4.
Risks of super
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
25
· Foreign exchange – if we invest in other countries there
Section 4.
is a risk their currencies could change in value relative
to our dollar and so, increase or reduce the value of
Risks of super
the investment.
· Investment styles – when choosing individual fund
managers, varying investment styles will perform
Your super benefits are subject to investment risks and can differently depending on the markets and other factors.
change in value. Each investment option has different risk · Risks associated with each individual investment –
characteristics and volatility. Net investment returns can including the risk of financial loss. Individual investments
have a positive or negative effect on your account balance can fall in value for many reasons. For example:
depending on investment performance.
A ustralian shares – inflation, interest rates and changes
Risks can be divided into the following main categories: in market conditions will all have an effect on the value of
shares, as does the performance of the company itself.
4.1 Investment risks
International shares – the risks relating to international
All investments are subject to varying risks and can change in
shares are the same as for Australian shares. There
value. There are risks in choosing to invest in superannuation
are also additional risks relating to exchange rates and
and each investment option has different risk characteristics
currencies, and political risks associated with investing in
and volatility.
that country.
See 5.8 Understanding risk versus return
Property – returns on property rely on general economic
The most significant risks are: factors such as inflation, interest rates and employment,
as well as factors unique to the property such as its
· Concentration risk – during a market downturn,
location and quality.
investments that are concentrated in one asset class
risk suffering significant losses all at once. Diversifying A ustralian fixed interest – changes in interest rates in
your portfolio by investing in different types of assets particular will have an impact on fixed interest investments
helps reduce this risk. so that, if interest rates change during the term of a loan,
there could be capital gains or capital losses. Depending
· Sequencing risk – sequencing risk is the risk that the
on the nature of the issuer of the investment, there is
order and timing of your investment returns causes a
a varying level of risk that the borrower may default on
less favourable result in your overall super balance. For
repayment of the loan.
example, a low or negative return when you’re younger
(and have a lower balance) may not have a significant I nternational fixed interest – similar to Australian fixed
overall impact on your retirement balance; but a low or interest but with additional risks associated with exchange
negative return when you’re nearing retirement may rates and currencies, and political developments.
have a bigger impact on your retirement plans.
Each asset class and investment option has its own level of
· Inflation risk – inflation may exceed the return on your risk and return. Typically, the greater an investment risk, the
investment – inflation is measured by the Consumer greater its potential return over the long term.
Price Index (CPI). Where the CPI increases, money has
It is wise to seek professional advice when making decisions
less purchasing power. When an investment provides
about selecting and changing your investment options as
a lower return than the increase in inflation, it actually
each option has a different risk/return profile.
loses value in terms of purchasing power. Therefore,
it is important to invest in assets that are expected to Find out more at hostplus.com.au/financial-planning/
generate returns in excess of inflation over the medium your-advice
to long term.
Other risks may also affect the accessibility or value of
· Market risks – economic, technological, political your investment with any super fund. These include:
or legal conditions and even market sentiment can
· Liquidity risks – this refers to the ability to convert an
change and affect the value of investments.
investment into cash with little or no loss of capital
· Changes in interest rates – interest rate changes and minimum delay. Some investments, such as direct
can have a positive or negative impact on investment property, unlisted infrastructure and private equity, are
returns across asset classes. relatively illiquid.
· Security specific risks – where an individual company or
asset fails, for example through bankruptcy, fraudulent
activity or the business environment in which it
operates, the value of the investment can fall sharply.
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
26
· Derivatives risks – derivatives are used by the Pooled 4.3 Investment risk measure
Superannuation Trust (PST)* for many purposes, including
The Standard Risk Measure (SRM) has been adopted to assist
hedging to protect an asset against market fluctuations,
members in comparing investment options (both within and
reducing costs of achieving a particular market exposure,
across superannuation funds) using a simplified risk measure.
and specifically using derivative overlays to manage the
PST’s exposure to foreign currency movements against The SRM is based on industry guidance (SRM implementation
the Australian dollar. Hostplus has appointed various guidance for Trustees issued by the Financial Services Council
external investment managers who can directly invest in ‘FSC’ & the Association of Superannuation Funds of Australia
derivatives on behalf of the Trustee in order to assist with ‘ASFA’) to allow members to compare investment options
the effective management and protection of Hostplus that are expected to deliver similar negative net investment
assets. To satisfactorily manage this risk we set appropriate returns over a 20-year period.
terms, levels of usage and constraints. Hostplus also
The SRM is not a complete assessment of all forms of
obtains confirmation from these investment managers
investment risk; for instance, it does not detail what
that they have the appropriate risk management
the size of a negative return could be or the possibility of
processes in place in relation to the use of derivatives.
returns not being adequate to meet a member’s investment
*The Hostplus PST is a pooled superannuation trust as defined under objectives. Further, it does not take into account the
the Superannuation Industry (Supervision) Act 1993 (SIS Act) and is
impact of administration fees and tax on the likelihood of a
designed to pool assets of eligible complying superannuation entities
negative return.
to invest in high-quality assets managed by Hostplus and selected
external investment managers.
Members should still ensure they are comfortable with
· Market failure – there is a risk of broad market failure the risks and potential losses associated with their
or significant financial collapse that affects investments chosen investment option/s.
broadly. Such events are outside the control of the trustee.
Consequently, even long term investors like superannuation Risk measures and categories
fund members should be mindful of the risk that if such high
Relevant risk label Level of investment risk –
impact events occur, their benefits may be less than the estimated number of negative
total amount of contributions invested. net investment returns over a
20 year period
4.2 Operational risks
Very low Less than 0.5
Operational risks include the possibility of: Low 0.5 to less than 1
· adequacy of resources (Human, Financial Low to medium 1 to less than 2
and Technological), Medium 2 to less than 3
· business continuity / disaster recovery, Medium to high 3 to less than 4
· fraud and theft, High 4 to less than 6
· administrative errors, Very high 6 or greater
· inappropriate advice,
This risk measure is applicable to all of our investment options
· unit pricing errors, or
with the exception of Choiceplus.
· failure of outsourced providers.
The information in this Section contains general advice only and does not
Most operational risks can be controlled by the trustee take into account your personal objectives, financial situation or needs.
You should consider if this information is appropriate for you in light of your
through their internal control framework.
circumstances before acting on it. You may also find it beneficial to obtain
advice from a licensed financial adviser. Past performance is not a reliable
The trustee has a compliance and risk management program
indicator of future performance. For a description of the target market,
in place to manage these risks. In addition to the Operational please read the Target Market Determination (TMD), available at hostplus.
Risks that may arise, there is also the possibility for legal or com.au/ddo
legislative risks to occur. These risks include: While every care has been taken to ensure that the information in this document
is correct, Hostplus reserves the right to correct any error or misprint in respect
· superannuation legislation changes that may affect of the information shown. Any updated PDSs will be available on our website at
your benefit or ability to access a benefit, hostplus.com.au.
Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as trustee
· taxation changes that may affect the value of
for the Hostplus Superannuation Fund (the Fund) ABN 68 657 495 890,
your investment, MySuper No. 68657495890198.
· economic or political climate changes,
· Government policy and law changes,
· particular events being excluded from insurance cover,
· insurance terms changes, or
· a fund's termination, the trustee being replaced or
investment managers changing.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Section 5.
How we invest
your money
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28
Section 5. How we invest your money
5.1 Your investment options
It's now time to think about how your superannuation is invested and how your super can assist you in preparing
for the retirement you'd like to achieve.
Choosing the right investment option is important. It's your money, after all. Our wide range of investment options
allows you to invest based on your own preferences and risk appetite.
You can choose to leave the investment decisions to us or take a more hands-on approach to making an investment
choice, choosing from our award-winning product and options.
Leaving investing to Hostplus
MySuper Hostplus MySuper option
The government defines MySuper as a simple, cost- The Balanced option is our MySuper investment option,
effective, balanced superannuation product designed for and over a million Hostplus members are invested in
members who want to leave the investment decisions to this option.
their superannuation fund.
It’s an award-winning investment option,¹ with a history
If you don’t make any investment choice, your super will of strong long-term performance.²
be invested in our MySuper investment option.
MySuper (Balanced)
Summary Who is this investment suitable for? Additional information
Hostplus’ MySuper (Balanced) Hostplus MySuper (Balanced) is our Please refer to Section 5.2 for
investment option is focused on default investment option that is details of the investment objective,
delivering the best net return designed to be a simple and cost- level of investment risk, minimum
from investing in a portfolio that effective product offered to members suggested time frame, the
has a bias to growth assets and who would like Hostplus to manage investment mix and asset ranges,
has high diversification. their investment decisions. and additional information.
1. Awards and ratings are only one factor to be taken into account when choosing a super fund. 2. Source: Hostplus’ Balanced option is ranked number one versus
peers over 10 and 20 years. Source: SuperRatings Accumulation Fund Crediting Rate Survey - SR50 Balanced (60 -76) Index, April 2024. Past performance is not a
reliable indicator of future performance and should never be the sole factor considered when selecting a superannuation fund.
The rating is issued by SuperRatings Pty Ltd ABN 95 100 192 283 (SuperRatings) a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty
Ltd ABN 11 151 658 561, AFSL No. 421445. Ratings are general advice only and have been prepared without taking account of your objectives, financial situation or
needs. Consider your personal circumstances, read the product disclosure statement, and seek independent financial advice before investing. The rating is not a
recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without
notice and SuperRatings assumes no obligation to update. SuperRatings use proprietary criteria to determine awards and ratings and may receive a fee for the use of
its ratings and awards. Visit superratings.com.au for ratings information. © 2024 SuperRatings. All rights reserved.
The Canstar 2024 Outstanding Value: Superannuation Award was received in March, 2024 for the Hostplus Superannuation and Personal Super Plan.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
29
Making an investment choice
If you’d like more control over your super, you can choose from our pre-mixed options, our single sector options,
our direct investment option, Choiceplus, or our Hostplus Life option.
You can also mix and match different options to suit your investment risk profile and financial objectives.
Pre-mixed options
Our pre-mixed options invest in combinations of asset classes. They have varying levels of investment risk and
focus on three different investment styles:
Our Socially Responsible
Our Core options focus on: Our Indexed options focus on: investment (SRI) options
focus on:
Delivering the best net return Minimising investment fees
Values-based investing
for a given level of risk and costs
Hostplus Life
Hostplus Life automatically adjusts your level of investment risk as you grow older. We’ll invest your super in
different Core pre-mixed investment options depending on how close you are to retirement.
Read more about our pre-mixed options in Section 5.2.
Single sector options
Our single sector options predominantly invest in a specific asset class, such as shares, cash or fixed interest.
They have varying levels of investment risk. Read more about our sector options in Section 5.3.
Choiceplus
With Choiceplus, you choose your own investments. You can invest directly into companies in the S&P/ASX 300
Index; selected Exchange Traded Funds (ETFs); Listed Investment Companies (LICs); and term deposits. Read more
about Choiceplus in Section 5.4.
Before making an investment choice you should consider:
· Your needs and objectives – How much income you’ll need for retirement.
· Risk and return – Your attitude to risk and the likely risk and return of each investment option. Consider how prepared
you are to see your balance go down in the short term in the interest of potentially getting a better long-term return.
· Investment time frame – Your age and how long you’ll be investing for.
· Investment preferences – What’s important to you? Getting the best net returns, finding a low-cost option, or
investing based on your values?
· Other investments – Other investments you may have (including investments outside of superannuation).
The investment information in this PDS, including strategic asset allocations (SAAs), is current at the date of publication but
may change from time to time. Please visit hostplus.com.au/members/our-products-and-services/investment-options
for the latest information.
For definitions of the different types of asset classes, defensive and growth assets, and the relationship
between risk and return, please refer to Sections 5.5, 5.6 and 5.8.
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
30
Understanding our investment options
On the next few pages, you’ll find more detail about each investment option. To help you understand what makes up each
investment option, we’ve put together the example below.
Balanced (MySuper)
Summary The Balanced investment option is focused on
delivering the best net return from investing in a
portfolio that has a bias to growth assets and has
high diversification.
Who is this With a bias to growth assets, this Core pre-mixed
investment investment option is designed for members with a
suitable for? medium to long-term investment time frame, who
are seeking strong long-term returns and have a
medium to high tolerance of negative returns. This
option is also designed for members who do not wish
to make an investment choice.
Investment CPI plus 3.0% per annum on average over 10 years.
objective CPI plus 4.0% per annum on average over 20 years.
Level of Medium to High. (Negative returns expected in
investment risk between 3 to less than 4 out of every 20 years).
Minimum
suggested
5 years +
investment
time frame
Growth/defensive 76% growth / 24% defensive
allocation
Investment mix ASSET CLASS RANGE % TARGET
and asset ranges
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Listed
equities
Australian shares 10–40% 21%
International shares
10–40% 22%
– Developed markets
International shares
0–15% 7%
– Emerging markets
Unlisted
assets
Property 0–30% 10%
Infrastructure 0–30% 11%
Private equity 0–25% 10%
Credit 0–20% 7%
Alternatives 0–20% 4%
and
cash
Bonds
Describes the Describes the
focus of the types of members
investment option. that this option
is suitable for,
based on the
How risky this
characteristics of
option is. Ranges
the investment
from very low to
option.
very high risk.This
is an industry wide
Standard Risk Describes the
Measure, which target investment
is based on the return over a 10
expected number and/or 20-year
of negative annual period.
returns over a
20-year period.
The recommended
minimum period
that this option The Target provides
should be invested guidance on how
in for. much Hostplus
invests in different
asset classes.
The Range is the
minimum and
maximum for
How the option is
each asset class.
invested between
The Hostplus
growth assets
investment team
(higher risk / higher
can change actual
return like shares)
allocations within
and defensive
these ranges to
assets (lower risk
reflect what’s
/ lower returns like
happening in cash).
investment markets
to maximise returns
for members.
The different asset
classes that the
investment option
is invested in.
Listed securities Where you
are assets that can find more
are listed on information about
a securities how the option
exchange, like has performed in
shares, while the past, the fees
unlisted assets and costs for the Diversified 0–20% 4%
include assets that fixed interest investment option,
are not listed on and explanations
Cash 0–15% 4%
an exchange, like of bolded terms
direct property. Additional Information about the past performance of this outlined in the
Bonds and Cash information option is at hostplus.com.au/returns. Information ‘Summary’
include cash in the about the fees and costs for investing in this option and ‘Who is
bank, bank bills and is in Section 6. Fees and Costs. Explanations of the this investment
government bonds. bolded terms used in the 'summary' and 'who is this suitable for?’.
investment suitable for' are in the glossary at Section
5.21. Glossary.
Read the full details of each investment option on pages 33 to 56.
31
5.2 Pre-mixed investment options
Our pre-mixed options invest in combinations of asset classes.
They have varying levels of investment risk and focus on three different investment styles. You can choose to invest in more
than one pre-mixed option, or combine them with our single sector or Choiceplus options to give you greater flexibility.
Each pre-mixed option has its own mix of growth and defensive assets, investment objective, and level of investment
risk (see the following pages for details of each investment option).
Minimum
Level of Growth assets suggested
Investment option Investment style
investment risk exposure target investment
time frame
High Growth High 100% 10 years +
Growth Medium to High 90% 5 years +
Balanced (MySuper) Core: Medium to High 76% 5 years +
Focused on delivering
the best net returns for
Conservative Balanced a given level of risk Medium 56% 5 years +
Capital Stable Low to Medium 37% 5 years +
Defensive Very Low 19% 2 years +
Indexed High Growth High 100% 7 years +
Indexed Growth High 90% 7 years +
Indexed Balanced Indexed: High 75% 5 years +
Focused on minimising
investment fees
Indexed Conservative Balanced and costs High 55% 5 years +
Indexed Capital Stable Medium 37% 5 years +
Indexed Defensive Low 19% 5 years +
Socially Responsible Investment
High 100% 7 years +
(SRI) – High Growth
Socially Responsible
Socially Responsible Investment Investment (SRI):
Medium to High 72% 5 years +
(SRI) – Balanced Focused on
values-based investing
Socially Responsible Investment
Low 19% 5 years +
(SRI) – Defensive
Focused on adjusting Ranges from
Ranges from 90%
the level of risk as Medium-to-High
Hostplus Life to 37% depending 5 years +
members approach to Low-to-medium
on age.
retirement. depending on age.
For definitions of the different types of asset classes, defensive and growth assets, and the relationship
between risk and return, please refer to Sections 5.5, 5.6 and 5.8.
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Core options
(pre-mixed)
Focused on delivering the
best net return for a given
level of risk.
The six pre-mixed investment options
outlined on the following pages take
full advantage of Hostplus’ investment
expertise and feature our best
investment ideas across listed and
unlisted assets, bonds and cash.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
33
High Growth Growth
The High Growth investment option is focused on The Growth investment option is focused on
delivering the best net return from investing in delivering the best net return from investing in a
Summary
a portfolio of all growth assets and has medium portfolio that has a strong bias to growth assets and
diversification. has high diversification.
With all growth assets, this Core pre-mixed With a strong bias to growth assets, this Core
Who is this investment option is designed for members with a pre-mixed investment option is designed for members
investment long-term investment time frame, who are seeking with a medium to long-term investment time frame,
suitable for? very strong long-term returns and have a high who are seeking very strong long-term returns and
tolerance of negative returns. have a medium to high tolerance of negative returns.
Investment
CPI plus 4.5% per annum on average over 20 years. CPI plus 4.5% per annum on average over 20 years.
objective
Level of High. (Negative returns expected in between Medium to High. (Negative returns expected in
investment risk 4 to less than 6 out of every 20 years) between 3 to less than 4 out of every 20 years)
Minimum
suggested
10 years + 5 years +
investment
time frame
Growth/
defensive 100% growth / 0% defensive 90% growth / 10% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Listed
equities
Australian shares 10–60% 37%
International shares
10–60% 40%
– Developed markets
International shares
0–30% 11%
– Emerging markets
Unlisted
assets
Property 0–10% 0%
Infrastructure 0–10% 0%
Private equity 0–30% 12%
Credit 0–10% 0%
Alternatives 0–10% 0%
and
cash
Bonds
ASSET CLASS RANGE % TARGET
Diversified 0–10% 0%
fixed interest
Cash 0–10% 0%
Listed
equities
Australian shares 10–50% 30%
International shares
10–50% 32%
– Developed markets
International shares
0–20% 9%
– Emerging markets
Unlisted
assets
Property 0–20% 6%
Infrastructure 0–20% 7%
Private equity 0–20% 8%
Credit 0–15% 5%
Alternatives 0–10% 3%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified 0–10% 0%
fixed interest
Cash 0–10% 0%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
34
Balanced (MySuper) Conservative Balanced
The Balanced investment option is focused on The Conservative Balanced investment option is
delivering the best net return from investing in a focused on delivering the best net return from
Summary portfolio that has a bias to growth assets and has investing in a portfolio that has a similar proportion
high diversification. of growth and defensive assets and has high
diversification.
With a bias to growth assets, this Core pre-mixed With a similar proportion of growth and defensive
investment option is designed for members with a assets, this Core pre-mixed investment option is
Who is this medium to long-term investment time frame, who designed for members with a medium to long-term
investment are seeking strong long-term returns and have a investment time frame, who are seeking moderate
suitable for? medium to high tolerance of negative returns. long-term returns and have a medium tolerance of
negative returns.
This option is also designed for members who do not
wish to make an investment choice.
Investment CPI plus 3.0% per annum on average over 10 years.
CPI plus 3.0% per annum on average over 20 years.
objective CPI plus 4.0% per annum on average over 20 years.
Level of Medium to High. (Negative returns expected in Medium. (Negative returns expected in between
investment risk between 3 to less than 4 out of every 20 years) 2 to less than 3 out of every 20 years)
Minimum
suggested
5 years + 5 years +
investment
time frame
Growth/
defensive 76% growth / 24% defensive 56% growth / 44% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Listed
equities
Australian shares 10–40% 21%
International shares
10–40% 22%
– Developed markets
International shares
0–15% 7%
– Emerging markets
Unlisted
assets
Property 0–30% 10%
Infrastructure 0–30% 11%
Private equity 0–25% 10%
Credit 0–20% 7%
Alternatives 0–20% 4%
and
cash
Bonds
ASSET CLASS RANGE % TARGET
Diversified 0–20% 4%
fixed interest
Cash 0–15% 4%
Listed
equities
Australian shares 10–30% 16%
International shares
10–30% 17%
– Developed markets
International shares
0–15% 5%
– Emerging markets
Unlisted
assets
Property 0–25% 9%
Infrastructure 0–25% 9%
Private equity 0–10% 3%
Credit 0–20% 7%
Alternatives 0–20% 6%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified 10–40% 18%
fixed interest
Cash 0–25% 10%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
35
Capital Stable Defensive
The Capital Stable investment option is focused on The Defensive investment option is focused on
delivering the best net return from investing in a delivering the best net return from investing in a
Summary
portfolio that has a bias to defensive assets and has portfolio that has a strong bias to defensive assets
high diversification. and has medium diversification.
With a bias to defensive assets, this Core pre-mixed With a strong bias to defensive assets, this
Who is this investment option is designed for members with a Core pre-mixed investment option is designed for
investment medium to long-term investment time frame, who members with a short-term investment time frame,
suitable for? are seeking modest long-term returns and have a who are seeking stable returns and have a very low
low to medium tolerance of negative returns. tolerance of negative returns.
Investment
CPI plus 2.0% per annum on average over 20 years. CPI plus 1.0% per annum on average over 20 years
objective
Level of Low to Medium. (Negative returns expected in Very Low. (Negative returns expected in less than 0.5
investment risk between 1 to less than 2 out of every 20 years) out of every 20 years)
Minimum
suggested
5 years + 2 years +
investment
time frame
Growth/
defensive 37% growth / 63% defensive 19% growth / 81% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Listed
equities
Australian shares 0–30% 8%
International shares
0–30% 9%
– Developed markets
International shares
0–10% 2%
– Emerging markets
Unlisted
assets
Property 0–25% 10%
Infrastructure 0–25% 11%
Private equity 0–10% 1%
Credit 0–20% 7%
Alternatives 0–20% 6%
and
cash
Bonds
ASSET CLASS RANGE % TARGET
Diversified 10–50% 28%
fixed interest
Cash 0–50% 18%
Listed
equities
Australian shares 0–30% 6%
International shares
0–30% 7%
– Developed markets
International shares
0–10% 1%
– Emerging markets
Unlisted
assets
Property 0–30% 2%
Infrastructure 0–30% 4%
Private equity 0–10% 0%
Credit 0–30% 0%
Alternatives 0–30% 3%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified 10–70% 34%
fixed interest
Cash 10–80% 43%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
36
Indexed
options
(pre-mixed)
Focused on minimising
investment fees and costs.
The six pre-mixed investment
options outlined on the following
pages generally use a passive
investment style to invest in listed
companies, bonds and cash, and
aim to track the returns of the
markets in which they invest.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
37
Indexed High Growth Indexed Growth
The Indexed High Growth investment option is The Indexed Growth investment option is focused on
focused on minimising investment fees and costs minimising investment fees and costs from investing
Summary
from investing in a portfolio of all growth assets and in a portfolio that has a strong bias to growth assets
has low diversification. and has medium diversification.
With all growth assets, this Indexed pre-mixed With a strong bias to growth assets, this Indexed pre-
Who is this investment option is designed for members with a mixed investment option is designed for members
investment long-term investment time frame, who are seeking with a long-term investment time frame, who are
suitable for? moderate long-term returns and have a high seeking moderate long-term returns and have a
tolerance of negative returns. high tolerance of negative returns.
Investment
CPI plus 3.0% per annum on average over 20 years. CPI plus 2.5% per annum on average over 20 years
objective
Level of High. (Negative returns expected in between High. (Negative returns expected in between 4 to less
investment risk 4 to less than 6 out of every 20 years) than 6 out of every 20 years)
Minimum
suggested
7 years + 7 years +
investment
time frame
Growth/
defensive 100% growth / 0% defensive 90% growth / 10% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Listed
equities
Australian shares 20–80% 48%
International shares
20–80% 52%
– Developed markets
International shares
0–30% 0%
– Emerging markets
Unlisted
assets
Property 0–10% 0%
Infrastructure 0–10% 0%
Private equity 0–30% 0%
Credit 0–10% 0%
Alternatives 0–10% 0%
and
cash
Bonds
ASSET CLASS RANGE % TARGET
Diversified 0–10% 0%
fixed interest
Cash 0–10% 0%
Listed
equities
Australian shares 20–70% 40%
International shares
20–70% 50%
– Developed markets
International shares
0–30% 0%
– Emerging markets
Unlisted
assets
Property 0–10% 0%
Infrastructure 0–10% 0%
Private equity 0–30% 0%
Credit 0–10% 0%
Alternatives 0–10% 0%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified 0–20% 10%
fixed interest
Cash 0–20% 0%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
38
Indexed Balanced Indexed Conservative Balanced
The Indexed Balanced investment option is focused The Indexed Conservative Balanced investment
on minimising investment fees and costs from option is focused on minimising investment fees and
Summary investing in a portfolio that has a bias to growth costs from investing in a portfolio that has a similar
assets and has medium diversification. proportion of growth and defensive assets and has
medium diversification.
With a bias to growth assets, this Indexed pre-mixed With a similar proportion of growth and defensive
investment option is designed for members with a assets, this Indexed pre-mixed investment option is
Who is this
medium to long-term investment time frame, who designed for members with a medium to long-term
investment
are seeking moderate long-term returns and have a investment time frame, who are seeking modest
suitable for?
high tolerance of negative returns. long-term returns and have a high tolerance of
negative returns.
Investment
CPI plus 2.5% per annum on average over 20 years. CPI plus 2.0% per annum on average over 20 years
objective
Level of High. (Negative returns expected in between High. (Negative returns expected in between 4 to less
investment risk 4 to less than 6 out of every 20 years) than 6 out of every 20 years)
Minimum
suggested
5 years + 5 years +
investment
time frame
Growth/
defensive 75% growth / 25% defensive 55% growth / 45% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Listed
equities
Australian shares 20–60% 35%
International shares
20–60% 40%
– Developed markets
International shares
0–15% 0%
– Emerging markets
Unlisted
assets
Property 0–10% 0%
Infrastructure 0–10% 0%
Private equity 0–10% 0%
Credit 0–10% 0%
Alternatives 0–10% 0%
and
cash
Bonds
ASSET CLASS RANGE % TARGET
Diversified 10–30% 20%
fixed interest
Cash 0–20% 5%
Listed
equities
Australian shares 10–50% 25%
International shares
10–50% 30%
– Developed markets
International shares
0–20% 0%
– Emerging markets
Unlisted
assets
Property 0–20% 0%
Infrastructure 0–20% 0%
Private equity 0–20% 0%
Credit 0–20% 0%
Alternatives 0–20% 0%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified 5–40% 30%
fixed interest
Cash 0–40% 15%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
39
Indexed Balanced Indexed Conservative Balanced
The Indexed Balanced investment option is focused The Indexed Conservative Balanced investment
on minimising investment fees and costs from option is focused on minimising investment fees and
Summary investing in a portfolio that has a bias to growth costs from investing in a portfolio that has a similar
assets and has medium diversification. proportion of growth and defensive assets and has
medium diversification.
With a bias to growth assets, this Indexed pre-mixed With a similar proportion of growth and defensive
investment option is designed for members with a assets, this Indexed pre-mixed investment option is Who is this
medium to long-term investment time frame, who designed for members with a medium to long-term investment
are seeking moderate long-term returns and have a investment time frame, who are seeking modest suitable for?
high tolerance of negative returns. long-term returns and have a high tolerance of
negative returns.
Investment
CPI plus 2.5% per annum on average over 20 years. CPI plus 2.0% per annum on average over 20 years
objective
Level of High. (Negative returns expected in between High. (Negative returns expected in between 4 to less
investment risk 4 to less than 6 out of every 20 years) than 6 out of every 20 years)
Minimum
suggested
5 years + 5 years +
investment
time frame
Growth/
defensive 75% growth / 25% defensive 55% growth / 45% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Listed
equities
Australian shares 20–60% 35%
International shares 20–60% 40%
– Developed markets
International shares 0–15% 0%
– Emerging markets
Unlisted
assets
Property 0–10% 0%
Infrastructure 0–10% 0%
Private equity 0–10% 0%
Credit 0–10% 0%
Alternatives 0–10% 0%
and
cash
Bonds
ASSET CLASS RANGE % TARGET
Diversified 10–30% 20%
fixed interest
Cash 0–20% 5%
Listed
equities
Australian shares 10–50% 25%
International shares 10–50% 30%
– Developed markets
International shares 0–20% 0%
– Emerging markets
Unlisted
assets
Property 0–20% 0%
Infrastructure 0–20% 0%
Private equity 0–20% 0%
Credit 0–20% 0%
Alternatives 0–20% 0%
and
cash
Bonds
Indexed Capital Stable Indexed Defensive
The Indexed Capital Stable investment option is The Indexed Defensive investment option is focused
focused on minimising investment fees and costs on minimising investment fees and costs from
Summary
from investing in a portfolio that has a bias to investing in a portfolio that has a strong bias to
defensive assets and has medium diversification. defensive assets and has medium diversification.
With a bias to defensive assets, this indexed With a strong bias to defensive assets, this Indexed
pre-mixed investment option is designed for pre-mixed investment option is designed for
Who is this members with a medium to long-term investment members with a medium-to-long-term investment
investment time frame, who are seeking modest long-term time frame, who are seeking stable returns and have
suitable for? returns and have a medium tolerance of negative a low tolerance of negative returns.
returns.
Investment
CPI plus 1.5% per annum on average over 20 years CPI plus 1.0% per annum on average over 20 years.
objective
Level of Medium. (Negative returns expected in between 2 to Low. (Negative returns expected in between
investment risk less than 3 out of every 20 years) 0.5 to less than 1 out of every 20 years)
Minimum
suggested
5 years + 5 years +
investment
time frame
Growth/
defensive 37% growth / 63% defensive 19% growth / 81% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Diversified 5–40% 30%
fixed interest
Cash 0–40% 15%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
Listed
equities
Australian shares 0–40% 15%
International shares
0–40% 22% – Developed markets
International shares
0–10% 0% – Emerging markets
Unlisted
assets
Property 0–30% 0%
Infrastructure 0–30% 0%
Private equity 0–10% 0%
Credit 0–30% 0%
Alternatives 0–30% 0%
and
cash
Bonds
ASSET CLASS RANGE % TARGET
Diversified 10–60% 40%
fixed interest
Cash 0–60% 23%
Listed
equities
Australian shares 0–30% 9%
International shares
0–30% 10% – Developed markets
International shares
0–10% 0% – Emerging markets
Unlisted
assets
Property 0–30% 0%
Infrastructure 0–30% 0%
Private equity 0–10% 0%
Credit 0–30% 0%
Alternatives 0–30% 0%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified 10–70% 36%
fixed interest
Cash 10–80% 45%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
40
Socially
Responsible
Investment
(SRI) options
(pre-mixed)
Focused on
values-based investing.
The three pre-mixed investment
options outlined on the following
pages seek to reduce exposure to
industry segments within fossil fuels
and tobacco production, as well as
other factors.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
41
Socially Responsible Investment (SRI) – High Growth Socially Responsible Investment (SRI) – Balanced
The Socially Responsible Investment (SRI) – High The Socially Responsible Investment (SRI) – Balanced
Growth investment option is focused on values- investment option is focused on values-based
Summary
based investing from investing in a portfolio of all investing from investing in a portfolio with a bias to
growth assets and has medium diversification. growth assets and has high diversification.
With all growth assets, this Socially Responsible With a bias to growth assets, this Socially Responsible
Investment pre-mixed option is designed for Investment pre-mixed option is designed for
Who is this
members with a long-term investment time frame, members with a medium to long-term investment
investment
who are seeking strong long-term returns and have a time frame, who are seeking moderate long-term
suitable for?
high tolerance of negative returns. returns and have a medium to high tolerance of
negative returns.
Investment
CPI plus 3.5% per annum on average over 20 years CPI plus 3.0% per annum on average over 20 years.
objective
Level of High. (Negative returns expected in between 4 to less Medium to high. (Negative returns expected in
investment risk than 6 out of every 20 years) between 3 to less than 4 out of every 20 years)
Minimum
suggested
7 years + 5 years +
investment
time frame
Growth/
defensive 100% growth / 0% defensive 72% growth / 28% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Listed
equities
Australian shares 20–80% 42%
International shares
20–80% 46%
– Developed markets
International shares
0–30% 0%
– Emerging markets
Unlisted
assets
Property 0–10% 0%
Infrastructure 0–10% 0%
Private equity 0–30% 12%
Credit 0–10% 0%
Alternatives 0–10% 0%
and
cash
Bonds
ASSET CLASS RANGE % TARGET
Diversified 0–10% 0%
fixed interest
Cash 0–10% 0%
Listed
equities
Australian shares 10–50% 24%
International shares
10–50% 26%
– Developed markets
International shares
0–20% 0%
– Emerging markets
Unlisted
assets
Property 0–30% 8%
Infrastructure 0–30% 10%
Private equity 0–30% 9%
Credit 0–20% 0%
Alternatives 0–30% 10%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified 0–30% 8%
fixed interest
Cash 0–20% 5%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
42
Socially Responsible Investment (SRI) – Defensive
The Socially Responsible Investment (SRI) – Defensive
investment option is focused on values-based
Summary investing from investing in a portfolio with a
strong bias to defensive assets and has medium
diversification.
With a strong bias to defensive assets, this Socially
Who is this Responsible Investment pre-mixed option is
investment designed for members with a medium to long-term
suitable for? investment time frame, who are seeking stable
returns and have a low tolerance of negative returns.
Investment
CPI plus 1.0% per annum on average over 20 years
objective
Level of Low. (Negative returns expected in between
investment risk 0.5 to less than 1 out of every 20 years)
Minimum
suggested
5 years +
investment
time frame
Growth/
defensive 19% growth / 81% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Listed
equities
Australian shares 0–30% 7%
International shares
0–30% 7%
– Developed markets
International shares
0–10% 0%
– Emerging markets
Unlisted
assets
Property 0–30% 2%
Infrastructure 0–30% 4%
Private equity 0–10% 0%
Credit 0–30% 0%
Alternatives 0–30% 3%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified 10–70% 35%
fixed interest
Cash 10–80% 42%
Information about the past performance of this
option is at hostplus.com.au/returns. Information
about the fees and costs for investing in this option
Additional
is in Section 6. Fees and Costs. Explanations of the
information
bolded terms used in the 'summary' and 'who is this
investment suitable for' are in the glossary at Section
5.21. Glossary.
43
Socially Responsible Investment (SRI) – Defensive
The Socially Responsible Investment (SRI) – Defensive
investment option is focused on values-based
Summary investing from investing in a portfolio with a
strong bias to defensive assets and has medium
diversification.
With a strong bias to defensive assets, this Socially
Who is this Responsible Investment pre-mixed option is
investment designed for members with a medium to long-term
suitable for? investment time frame, who are seeking stable
returns and have a low tolerance of negative returns.
Investment
CPI plus 1.0% per annum on average over 20 years objective
Level of Low. (Negative returns expected in between
investment risk 0.5 to less than 1 out of every 20 years)
Minimum
suggested
5 years +
investment
time frame
Growth/
defensive 19% growth / 81% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Listed
equities
Australian shares 0–30% 7%
International shares
0–30% 7%
– Developed markets
International shares
0–10% 0% – Emerging markets
Unlisted
assets
Property 0–30% 2%
Infrastructure 0–30% 4%
Private equity 0–10% 0%
Credit 0–30% 0%
Alternatives 0–30% 3%
and
cash
Bonds
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
These Socially Responsible Investment (SRI) options allow
members to align their superannuation with their personal Like our other investment options, our SRI options
values. We select these investments based on additional invest in unlisted assets such as private equity/
responsible investment criteria compared to Hostplus’ venture capital as well as listed investments.
other investment options.
Specifically, our Socially Responsible Investment (SRI) How the Socially Responsible Investment
options seek to:
(SRI) options are designed
Reduce exposure in investments To develop our Socially Responsible Investment
in the following industries:
(SRI) options, we partnered with specialist external
Fossil fuels1 investment managers.
Companies that breach Human Rights or Labour Rights
Hostplus or its investment managers also source
standards2
sustainable investment data from external service
Companies with very poor ESG policies and systems3
providers (Institutional Shareholder Services (ISS) Inc and
Controversial weapons4 Morgan Stanley Capital International (MSCI)).
Uncertified palm oil5
Decisions about the selection, retention or realisation of
Predatory lending6 investments, particularly for listed assets, apply a rules-
For-profit detention7 based approach and may therefore be affected by the
Gambling8 accessibility and accuracy of data or an error by an external
Tobacco production9 service provider. This may result in inadvertent holdings,
typically over the short-term, in companies or assets the
Live animal export10
investment options seek to avoid.
1. Companies that own reserves, explore, mine, extract, produce,
refine or generate energy from fossil fuels as well as those companies While the options invest with managers through mandates
that receive revenue from servicing these sectors through equipment or fund-of-one structures wherever possible in order to
services, pipeline transport or distribution. Seeks to apply a zero-
adhere fully to the above rules, there will be circumstances
materiality threshold, but dedicated renewable energy generators
with backup fossil fuel sources (<5%) may remain investible. Data where the options invest in pooled funds. In such
is supplied by Morgan Stanley Capital International (MSCI) and circumstances, we cannot set the specific filter criteria,
Institutional Shareholders Services (ISS) Inc.
but will aim for the closest fit to the criteria in selecting a
2. Companies that breach the United Nations (UN) Global Compact or
pooled fund.
International Labour Organisation’s (ILO) Core Conventions. Data is
supplied by Morgan Stanley Capital International (MSCI).
More information on our Socially Responsible
3. Companies with a MSCI ESG rating B or CCC.
Investment (SRI) options can be found on our website at
4. Companies involved in the development, production, maintenance
hostplus.com.au/about-us/company-overview/
or sale of controversial weapons (including cluster munitions, anti-
personnel mines, depleted uranium, biological weapons, chemical investment-governance.
weapons, blinding laser weapons, non-detectable fragment weapons,
incendiary weapons and nuclear weapons). Involvement includes
companies directly involved as well as prime-contractors, key
subcontractors, and suppliers of key components. Data is supplied
by ISS.
5. Companies involved in growing, processing or using palm oil, that
derive >10% of their revenue from these activities and where <50%
of the palm oil is Roundtable on Sustainable Palm Oil (RSPO) Certified.
Data is supplied by ISS.
6. Companies involved in predatory lending, including unfair or
deceptive products, excessive interest rates, misleading marketing,
inclusion of unnecessary costs and hidden fees and those targeting
minority, low income or elderly consumers. Data is supplied by ISS.
7. Companies deriving >5% of their revenue from for-profit detention
e.g. prisons and immigration detention. Data is supplied by ISS.
8. Companies deriving >5% of their revenue from gambling. Data is
supplied by MSCI.
Diversified 10–70% 35% 9. Companies that manufacture tobacco products, such as cigars,
fixed interest
blunts, cigarettes, e-cigarettes, inhalers, beedis, kreteks, smokeless
Cash 10–80% 42%
tobacco, snuff, snus, dissolvable and chewing tobacco.
This also includes companies that grow or process raw tobacco
Information about the past performance of this
leaves. Data is supplied by MSCI.
option is at hostplus.com.au/returns. Information
10. Companies involved in the export of live animals for the
about the fees and costs for investing in this option
Additional purpose of slaughter, husbandry and breeding, including specialised
is in Section 6. Fees and Costs. Explanations of the
information transportation. Data is supplied by ISS.
bolded terms used in the 'summary' and 'who is this
investment suitable for' are in the glossary at Section
5.21. Glossary.
44
Hostplus
Life
Focused on adjusting the
level of investment risk as
you approach retirement.
The Hostplus Life option outlined
on the following page automatically
moves from higher-risk core pre-mixed
investment options to lower-risk core
pre-mixed investment options as you
approach retirement.
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45
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Hostplus Life
If you choose our Hostplus Life option, we’ll invest your super in different Core pre-mixed investment options
depending on how close you are to retirement.
Hostplus Life
Summary The Hostplus Life investment option focuses on adjusting your level of investment risk depending on your
age and has high diversification.
Who is this This investment option is designed for members who would like to automatically move from higher-risk
investment Core investment options to lower-risk Core investment options as they approach retirement.
suitable for?
Throughout your younger years, Hostplus Life is focused on long-term capital growth, with a higher
investment in assets such as listed equities and property. As you move closer to retirement, your
superannuation will be focused more on providing a steady income and preserving capital.
Investment Age bracket Investment option Investment objective
objective
Under 40 Growth CPI plus 4.5% per annum on average over 20 years.
40-49 Balanced CPI plus 4.0% per annum on average over 20 years.
50-59 Conservative Balanced CPI plus 3.0% per annum on average over 20 years.
60 and over Capital Stable CPI plus 2.0% per annum on average over 20 years.
Level of Age bracket Investment option Level of Negative returns expected out of
investment risk investment every 20 years
risk
Under 40 Growth Medium to Negative returns expected in between
High 3 to less than 4 out of every 20 years.
40-49 Balanced Medium to Negative returns expected in between
High 3 to less than 4 out of every 20 years.
50-59 Conservative Balanced Medium Negative returns expected in between
2 to less than 3 out of every 20 years.
60 and over Capital Stable Low to Medium Negative returns expected in between
1 to less than 2 out of every 20 years.
Minimum Age bracket Investment option Minimum suggested investment time frame
suggested
investment Under 40 Growth 5 years +
time frame
40-49 Balanced 5 years +
50-59 Conservative Balanced 5 years +
60 and over Capital Stable 5 years +
Asset mix Please refer to Section 5.2 for the growth/defensive allocation and investment mix and asset ranges for the
Growth, Balanced, Conservative Balanced and Capital Stable pre-mixed options.
Additional Information about the past performance of this option is at hostplus.com.au/returns. Information about the
information fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
We will automatically switch your balance into the next Hostplus Life investment option on your 40th, 50th and 60th birthdays. Please
note if selecting Hostplus Life you cannot also select other investment options – you may only choose 100% or 0% into Hostplus Life.
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
46
Single
sector
investment
options
Focused on investing in a single
investment sector.
The single sector investment
options outlined on the following
pages predominantly invest in a
specific asset class, such as Cash or
Australian Shares, and have varying
investment styles.
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47
5.3 Single sector investment options
The single sector investment options predominantly invest in a specific asset class, such as Cash or Australian Shares.
You can choose to invest in more than one single sector option, or combine them with our pre-mixed or Choiceplus
options to give you greater flexibility.
If you choose one or more of the single sector investment options without adequately diversifying your
investment, you could expose your super savings to a greater risk of loss.
Level of % Exposure to Minimum suggested
Investment option
investment risk growth assets investment time frame
Australian Shares High 100% 7 years +
Australian Shares – Indexed Very High 100% 5 years +
International Shares High 100% 5 years +
International Shares – Indexed Very High 100% 5 years +
International Shares (Hedged) – Indexed Very High 100% 5 years +
International Shares – Emerging Markets High 100% 5 years +
Diversified Fixed Interest Low to Medium 0% 2 years +
Diversified Fixed Interest – Indexed Low to Medium 0% 2 years +
Cash Very Low 0% 2 years +
For definitions of the different types of asset classes, defensive and growth assets, and the relationship
between risk and return, please refer to sections 5.5, 5.6 and 5.8.
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48
Australian Shares Australian Shares – Indexed
The Australian Shares investment option is focused The Australian Shares – Indexed investment option
on delivering the best net return in a single sector is focused on minimising investment fees and
from investing in a portfolio of all growth assets costs in a single sector from investing in a portfolio
Summary
(typically companies listed predominantly on of all growth assets (typically companies listed
the Australian Securities Exchange) and has low predominantly on the Australian Securities Exchange)
diversification. and has low diversification.
With all growth assets, this single sector investment With all growth assets, this single sector investment
Who is this option is designed for members with a long-term option is designed for members with a medium to
investment investment time frame, who are seeking strong long- long-term investment time frame, who are seeking
suitable for? term returns and have a high tolerance of negative moderate long-term returns and have a very high
returns. tolerance of negative returns.
Investment
CPI plus 4.0% per annum on average over 20 years. CPI plus 3.0% per annum on average over 20 years.
objective
Level of High. (Negative returns expected in between 4 to less Very High. (Negative returns expected in 6 or greater
investment risk than 6 out of every 20 years) years out of every 20 years)
Minimum
suggested
7 years + 5 years +
investment
time frame
Growth/
defensive 100% growth / 0% defensive 100% growth / 0% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Listed
equities Australian shares 90–100% 100%
Bonds
and
cash
ASSET CLASS RANGE % TARGET
Cash 0–10% 0%
Listed
equities Australian shares 90–100% 100%
Bonds
and
cash
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Cash 0–10% 0%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
49
Australian Shares Australian Shares – Indexed
The Australian Shares investment option is focused The Australian Shares – Indexed investment option
on delivering the best net return in a single sector is focused on minimising investment fees and
from investing in a portfolio of all growth assets costs in a single sector from investing in a portfolio
Summary
(typically companies listed predominantly on of all growth assets (typically companies listed
the Australian Securities Exchange) and has low predominantly on the Australian Securities Exchange)
diversification. and has low diversification.
With all growth assets, this single sector investment With all growth assets, this single sector investment
Who is this option is designed for members with a long-term option is designed for members with a medium to
investment investment time frame, who are seeking strong long- long-term investment time frame, who are seeking
suitable for? term returns and have a high tolerance of negative moderate long-term returns and have a very high
returns. tolerance of negative returns.
Investment
CPI plus 4.0% per annum on average over 20 years. CPI plus 3.0% per annum on average over 20 years.
objective
Level of High. (Negative returns expected in between 4 to less Very High. (Negative returns expected in 6 or greater
investment risk than 6 out of every 20 years) years out of every 20 years)
Minimum
suggested
7 years + 5 years +
investment
time frame
Growth/
defensive 100% growth / 0% defensive 100% growth / 0% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
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Listed
equities Australian shares 90–100% 100%
Bonds
and
cash
ASSET CLASS RANGE % TARGET
Cash 0–10% 0%
Listed
equities Australian shares 90–100% 100%
Bonds
and
cash
International Shares International Shares – Indexed
The International Shares investment option is The International Shares – Indexed investment
focused on delivering the best net return in a single option is focused on minimising investment fees and
sector from investing in a portfolio of all growth costs in a single sector from investing in a portfolio
Summary assets (typically companies listed on international of all growth assets (typically companies listed on
securities exchanges, including developed and international securities exchanges in developed
emerging markets, and may include some unlisted markets) and has low diversification.
assets) and has medium diversification.
With all growth assets, this single sector investment With all growth assets, this single sector investment
option is designed for members with a medium to option is designed for members with a medium
Who is this
long-term investment time frame, who are seeking to long-term investment time frame, who are
investment
strong long-term returns, have a high tolerance seeking modest long-term returns, have a very high
suitable for?
of negative returns and can accept the impacts of tolerance of negative returns and can accept the
foreign currency movements. impacts of foreign currency movements.
Investment
CPI plus 4.0% per annum on average over 20 years. CPI plus 2.0% per annum on average over 20 years.
objective
Level of High. (Negative returns expected in between 4 to less Very High. (Negative returns expected in 6 or greater
investment risk than 6 out of every 20 years) out of every 20 years)
Minimum
suggested
5 years + 5 years +
investment
time frame
Growth/
defensive 100% growth / 0% defensive 100% growth / 0% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Cash 0–10% 0%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
Listed
equities
International shares
50–100% 73%
– Developed markets
International shares
0–40% 27%
– Emerging markets
Bonds
and
cash
ASSET CLASS RANGE % TARGET
Cash 0–10% 0%
Listed
equities International shares 90–100% 100%
– Developed markets
Bonds
and
cash
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Cash 0–10% 0%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
50
International Shares (Hedged) – Indexed International Shares – Emerging Markets
The International Shares (Hedged) – Indexed The International Shares – Emerging Markets
investment option is focused on minimising investment option is focused on delivering the
investment fees and costs in a single sector from best net return in a single sector from investing in
Summary investing in a portfolio of all growth assets (typically a portfolio of all growth assets (typically companies
companies listed on international securities listed on international securities exchanges in
exchanges in developed markets) and has low emerging markets) and has medium diversification.
diversification.
With all growth assets, this single sector investment With all growth assets, this single sector investment
option is designed for members with a medium option is designed for members with a medium to
Who is this
to long-term investment time frame, who are long-term investment time frame, who are seeking
investment
seeking modest long-term returns, have a very strong long-term returns, have a high tolerance
suitable for?
high tolerance of negative returns and want to limit of negative returns and can accept the impacts of
impact of foreign currency movements. foreign currency movements.
Investment
CPI plus 1.5% per annum on average over 20 years. CPI plus 4.0% per annum on average over 20 years.
objective
Level of Very High. (Negative returns expected in 6 or greater High. (Negative returns expected in between 4 to less
investment risk out of every 20 years) than 6 out of every 20 years)
Minimum
suggested
5 years + 5 years +
investment
time frame
Growth/
defensive 100% growth / 0% defensive 100% growth / 0% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Listed
equities International shares 90–100% 100%
– Developed markets
Bonds
and
cash
ASSET CLASS RANGE % TARGET
Cash 0–10% 0%
Listed
equities International shares 90–100% 100%
– Emerging markets
Bonds
and
cash
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Cash 0–10% 0%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
51
International Shares (Hedged) – Indexed International Shares – Emerging Markets
The International Shares (Hedged) – Indexed The International Shares – Emerging Markets
investment option is focused on minimising investment option is focused on delivering the
investment fees and costs in a single sector from best net return in a single sector from investing in
Summary investing in a portfolio of all growth assets (typically a portfolio of all growth assets (typically companies
companies listed on international securities listed on international securities exchanges in
exchanges in developed markets) and has low emerging markets) and has medium diversification.
diversification.
With all growth assets, this single sector investment With all growth assets, this single sector investment
option is designed for members with a medium option is designed for members with a medium to Who is this
to long-term investment time frame, who are long-term investment time frame, who are seeking
investment
seeking modest long-term returns, have a very strong long-term returns, have a high tolerance
suitable for?
high tolerance of negative returns and want to limit of negative returns and can accept the impacts of
impact of foreign currency movements. foreign currency movements.
Investment
CPI plus 1.5% per annum on average over 20 years. CPI plus 4.0% per annum on average over 20 years.
objective
Level of Very High. (Negative returns expected in 6 or greater High. (Negative returns expected in between 4 to less
investment risk out of every 20 years) than 6 out of every 20 years)
Minimum
suggested
5 years + 5 years +
investment
time frame
Growth/
defensive 100% growth / 0% defensive 100% growth / 0% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
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Listed
equities International shares 90–100% 100%
– Developed markets
Bonds
and
cash
ASSET CLASS RANGE % TARGET
Cash 0–10% 0%
Listed
equities International shares 90–100% 100%
– Emerging markets
Bonds
and
cash
Diversified Fixed Interest Diversified Fixed Interest – Indexed
The Diversified Fixed Interest investment option is The Diversified Fixed Interest – Indexed investment
focused on delivering the best net return in a single option is focused on minimising investment
sector from investing in a portfolio of all defensive fees and costs in a single sector from investing
Summary
assets (Australian and international government in a portfolio of all defensive assets (Australian
bonds and other investment grade debt) and has and international government bonds and other
medium diversification. investment grade debt) and has low diversification.
With all defensive assets, this single sector With all defensive assets, this single sector
Who is this investment option is designed for members with a investment option is designed for members with a
investment short-term investment time frame, who are seeking short-term investment time frame, who are seeking
suitable for? stable returns and have a low to medium tolerance stable returns and have a low to medium tolerance
of negative returns. of negative returns.
Investment
CPI per annum on average over 20 years. CPI minus 0.5% per annum on average over 20 years.
objective
Level of Low to Medium. (Negative returns expected in Low to Medium. (Negative returns expected in
investment risk between 1 to less than 2 out of every 20 years) between 1 to less than 2 out of every 20 years)
Minimum
suggested
2 years + 2 years +
investment
time frame
Growth/
defensive 0% growth / 100% defensive 0% growth / 100% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Cash 0–10% 0%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
Bonds
and
cash
ASSET CLASS RANGE % TARGET
Diversified
90–100% 100%
fixed interest
Cash 0–10% 0%
Bonds
and
cash
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Diversified
90–100% 100%
fixed interest
Cash 0–10% 0%
Information about the past performance of this option is at hostplus.com.au/returns. Information about the
Additional
fees and costs for investing in this option is in Section 6. Fees and Costs. Explanations of the bolded terms
information
used in the 'summary' and 'who is this investment suitable for' are in the glossary at Section 5.21. Glossary.
52
Cash1
The Cash investment option is focused on capital
preservation from investing in a portfolio of all
defensive assets with high liquidity characteristics
Summary
(e.g., bank deposits, short-term money market
investments and other similar investments) and
has low diversification.
With all defensive assets, this single sector
Who is this investment option is designed for members with a
investment short-term investment time frame, who are seeking
suitable for? stable returns and have a very low tolerance of
negative returns.
Investment
CPI per annum on average over 20 years.
objective
Level of Very Low. (Negative returns expected in less than 0.5
investment risk out of every 20 years)
Minimum
suggested
2 years +
investment
time frame
Growth/
defensive 0% growth / 100% defensive
allocation
Investment mix
and asset ranges
ASSET CLASS RANGE % TARGET
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Bonds
and
cash
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Cash 100% 100%
Information about the past performance of this
option is at hostplus.com.au/returns. Information
about the fees and costs for investing in this option
Additional
is in Section 6. Fees and Costs. Explanations of the
information
bolded terms used in the 'summary' and 'who is this
investment suitable for' are in the glossary at Section
5.21. Glossary.
1. The Cash option will be invested approximately 60% in deposits with
Commonwealth Bank of Australia Limited and 40% in deposits with Members Equity
Bank Limited. Any remaining amounts of the Cash option will be invested in separate
bank deposits, short-term money market investments or other similar investments.
Please note that maintaining a specific allocation requires regular rebalancing and the
actual allocation may vary between rebalancing dates.
53
Choiceplus
Choiceplus is designed for
members who want a more
active role in investing their
super or pension.
Choiceplus allows direct investment
into companies in the S&P/ASX 300
Index, and a selection of Exchange
Traded Funds (ETFs), Listed
Investment Companies (LICs)
and Term Deposits.
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54
5.4 Choiceplus
Please note, Choiceplus is not available for
Transition to Retirement (TTR) pensions.
Key features of Choiceplus
The Choiceplus investment option offers many of the
features available to a self-managed super fund (SMSF) at
a low cost – while you continue to be invested in an APRA-
regulated super fund:
· Central transaction account.
· Real time online share trading.
· Live share quotes and 20-minute delayed market data.
· Ability to participate in share dividend
reinvestment plans.
· Access to personalised share trading information
and history.
· Consolidated portfolio and tax reporting for your
Choiceplus investments.
· Comprehensive market information, news
and research.
· Investment tools, including watch lists and charting.
· Transfer your Choiceplus shares, exchange traded
funds (ETFs) and listed investment companies (LICs)
when commencing a new Hostplus Pension (excluding
TTR accounts).
For definitions of the different types of asset
classes, defensive and growth assets, and the
relationship between risk and return, please refer
to Sections 5.5, 5.6 and 5.8.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
55
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
The following tables provide further details about the investments available within Choiceplus*
Australian Shares (within S&P/ASX 300 Index) Exchange Traded Funds (ETFs)
Summary The S&P/ASX 300 Index incorporates up to 300 of ETFs are traded like shares, but are a collection of
the largest companies on the Australian Securities securities and generally represent a particular market
Exchange (by market capitalisation). index, (e.g. ASX Small Caps).
ETFs provide a low-cost way to access a wide range
of securities in Australian and international markets
and different industry sectors without having to select
shares yourself.
Who is this Members with a long-term investment time frame Members with a short-term to long-term investment
investment who are seeking strong long-term returns and have time frame (depending on the ETF chosen) who are
suitable for? a high tolerance of negative returns. Choiceplus seeking stable to very-strong long-term returns
members should be comfortable with implementing (depending on the ETF chosen) and have very low to
their own investment strategy and taking an active very high tolerance of negative returns (depending on
role in managing their super investment. the ETF chosen). Members choosing this investment
should be comfortable with implementing their
own investment strategy and taking an active role in
managing their super investment.
Level of High (Based on a diversified share portfolio, expected Varies depending on the ETF chosen
investment frequency of negative annual returns would be in
risk* between 4 and 6 out of every 20 years)
Minimum 7 years + Varies depending on the ETF chosen
suggested
investment
time frame
% Exposure to 100% Varies depending on the ETF chosen
growth assets
Additional Explanations of the bolded terms used in the 'summary' and 'who is this investment suitable for' are in the glossary at
information Section 5.21. Glossary. For the current list of ETFs available through Choiceplus, go to hostplus.com.au/choiceplus
Listed Investment Companies (LICs) Term deposits**
Summary LICs are publicly traded investment companies that invest Term Deposits have a locked-in term and interest rate,
in a diversified portfolio of assets, such as shares and which accrues interest daily and is credited to your
bonds. LICs are traded like shares, and are closed-ended. account at the end of the selected term along with the
This means they do not regularly issue new shares or original invested capital. The interest rate is generally
cancel existing shares as investors join or leave. higher than a normal bank deposit interest rate.
LICs are actively managed and can provide investors Term deposits are deemed to be ‘illiquid’ investments,
with exposure to a diversified portfolio of underlying because once you have agreed on a term and locked
shares and other assets. your investment in, you cannot redeem your cash
earlier without incurring a penalty on your interest rate.
Who is this Members with a medium to long-term investment With all defensive assets, Term Deposits are designed
investment time frame who are seeking strong long-term for members with a short-term investment time
suitable for? returns and have a high tolerance of negative returns. frame, who are seeking stable returns and have a
Members should be comfortable with implementing low tolerance of negative returns.
their own investment strategy and taking an active role
in managing their super investment.
Level of Varies depending on the LIC chosen Low. (Negative returns expected in between 0.5 to less
investment than 1 out of every 20 years)
risk*
Minimum Varies depending on the LIC chosen Maturity term – Choiceplus provides you with agreed
suggested maturity terms of 90 days, 180 days and 365 days on
investment your term deposits.
time frame
% Exposure to Varies depending on the LIC chosen 0%
growth assets
Additional Explanations of the bolded terms used in the 'summary' and 'who is this investment suitable for' are in the
information glossary at Section 5.21. Glossary.
For the current list of LICs available through Choiceplus, go to hostplus.com.au/choiceplus
The Choiceplus option allows you to invest your superannuation in term deposits provided by ME Bank – a division
of Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian Credit Licence Number 244616.
* Hostplus reserves the right to change or add to the selection of investments available through the Choiceplus investment option as required.
** Term Deposits cannot be transferred into your Pension account from your super account.
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56
Core Indexed Socially Responsible Single sector
Hostplus Life Choiceplus
options options investment (SRI) options options
Choiceplus at a glance
Before you decide
For detailed information about Choiceplus (including
transfers to Pension) download the Choiceplus Guide. It is important to bear in mind that investment
decisions made in the Choiceplus investment
Who can invest?
option are made by you – not Hostplus.
To be eligible to invest in the Choiceplus investment
Like any investment, Choiceplus carries its own level
option, you must:
of investment and market risk. You should be aware
· Be a Hostplus member with more than $10,000 in of the risks involved and be comfortable with the
your account. strategy you are putting in place.
· Have access to the internet and a current email
address, and registered for Member Online. You should read the Terms and conditions
for investing in the Choiceplus investment
· Read and accept the terms and conditions during the
option in the Choiceplus Guide.
registration process.
· Maintain a balance of at least $2,000 in one or
more of your Hostplus pre-mixed or single sector
investment options.
· Transfer and maintain at least $200 into your Seek advice from a financial planner
Choiceplus transaction account from your other While many people feel they have the ability to take a
Hostplus investment options. more active role in managing their super, the reality is
often quite different.
Fees
Additional fees and costs apply to Choiceplus and vary You may wish to obtain advice from a licensed
depending on the option selected. financial planner before investing in the Choiceplus
investment option.
Find out more at Section 6. Fees and costs, and the
Choiceplus Guide.
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57
Asset classes
5.5 Understanding asset classes
An asset is an investment used to gain a return.
Assets are divided into different asset classes, which is a grouping of investments with similar characteristics.
For example, ‘Cash’ and ‘Fixed interest’ are types of asset classes.
With the exception of Choiceplus, each Hostplus investment option is designed with different investment objectives,
strategies and levels of investment risk, which help to determine the mix of asset classes it invests in. Our pre-mixed
options invest in a combination of asset classes, while our single-sector options invest in a single asset class.
The table below explains the main asset classes Hostplus invests in.
Asset class What is it? How does it work? What is the risk/return?
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Listed
equities
Australian equities are typically Shares allow you to participate Australian equity returns can
investments in companies listed alongside other owners in a be more volatile in the short
on the Australian Securities company’s future success. term, making them a higher risk
Australian equities
Exchange (ASX). investment, but over the long
Returns come from dividends
(shares)
term are expected to generate
Equities are sometimes called (income) and movements in the
strong returns.
shares, securities, or stocks. share prices, known as capital
gains (or losses).
International equities (shares) Returns from international International equity returns can
are investments in companies shares come from a be more volatile in the short
International listed on a range of stock combination of dividend income term, making them a higher risk
equities (shares) – exchanges around the world. and capital gains (or losses) investment, but over the long
developed markets These companies operate plus any impact of currency term are expected to generate
across a broad range of largely movements relative to the strong returns.
developed countries. Australian dollar.
Emerging markets represent Returns from international While emerging markets tend to
the up-and-coming economies shares come from a be more volatile than developed
International of Asia, Africa, the Middle East, combination of dividend income markets, favourable returns are
equities (shares) – South America and Eastern and capital gains (or losses) expected over the long term,
emerging markets Europe, and investments in plus any impact of currency partly driven by the improving
companies listed on their movements relative to the standard of living in these
securities exchanges. Australian dollar. developing economies.
Unlisted
assets
Represents an investment in There are two ways that Property is considered
property assets across many property can provide returns – a moderate to high-risk
sectors including industrial, income in the form of rent, and investment. Returns are
retail, residential, healthcare and capital growth from an increase driven by several macro
commercial. in the value of the asset. Value factors including economic
is typically determined by an (e.g. inflation, interest rates
assessment of the present and employment), secular
Property
value of all future cashflows (e.g. ageing demographic,
generated by the asset. technological advancement and
urbanisation) and asset-specific
considerations (e.g. location and
quality). Returns are generally
higher than cash or fixed
interest over the long term.
Assets that provide essential Investments in infrastructure A key characteristic of
public facilities and services in can be through direct infrastructure is the
a number of sectors including investments in single assets or predictability of cash flows
transport, energy generation pooled funds and investment generated due to the essential
and transition, utilities and through a fund of funds vehicle. nature of the service they
telecommunications in Australia provide. In addition, they often
and overseas. have strong links to inflation
Infrastructure embedded in their contracts,
which are typically long-term or
via regulatory pricing regimes.
As a result of the predictability of
cash flows, infrastructure assets
are often seen as a substitute
for bonds, providing both cash
yield and capital growth.
58
Asset class What is it? How does it work? What is the risk/return?
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Unlisted
assets
Private equity involves Private equity investments are The private equity market is
investments in entities or usually made to finance one or less efficient than the listed
vehicles that are not listed on more stages of a company’s market, and the companies are
securities exchanges. They growth cycle, ranging from less mature. This inefficiency
can be based in Australia and those businesses in the early creates opportunities for skilled
Private equity overseas. stages of development (venture managers to add value and to
capital) to more mature achieve strong returns but can
businesses seeking capital. also result in very significant
volatility.
Returns are generally derived
from the movements in the
value of the underlying assets.
Represents a broad spectrum Like fixed interest, credit Credit investments are mostly
of debt across a range of investments involve a loan to sub-investment grade and
sectors, security types and a borrower in exchange for therefore tend to be higher
both public and private markets. regular interest payments, yielding (and higher risk) than
The corporate bond market plus repayment of the original investment-grade debt.
is the largest sector within investment amount (principal)
These investments are likely
Credit
credit markets and consists at maturity. Loans may be based
to be more volatile than fixed
of debt issued by companies. on a fixed or floating interest
interest but less than listed
Other credit sectors include rate, with the latter providing
equities, with potential for
mortgage-backed and asset- protection in a rising interest
negative returns and illiquidity
backed securities. rate environment.
(particularly in the case of
private debt.)
Almost any non-traditional Alternative investments Alternatives aim to produce
investment strategy could generally aim to achieve a fixed unique return streams that are
be classified as an alternative return objective, rather than to less correlated to traditional
investment (e.g. hedge funds). outperform a specific sector markets. Return targets are
Alternatives benchmark. usually in excess of cash over
the long term. However, its
volatility over the long term is
generally higher than that of
fixed interest.
Bonds
and
cash
A fixed interest investment (or Bond values are driven by While the fixed nature of
bond) is a loan to a government, prevailing interest rates interest payments provides
semi-government authority or and expected interest rate certainty of cash flows, changes
large corporation in exchange movements. In general, when to interest rates during the term
for regular interest payments, interest rates rise, the market of the loan will result in capital
plus repayment of the original value of bonds falls, and when gains (interest rate decline) or
Diversified fixed investment amount (principal) interest rates fall, bond values losses (interest rate increase).
interest when the loan period ends. rise. This can have a significant The securities in the fixed
impact on performance.
interest asset class are
generally investment-grade
quality reflecting reduced
default risk relative to high
yielding sub-investment grade
debt (i.e. Credit).
Short-term highly liquid A cash investment is a short- Cash is considered to be the
securities such as deposits, term obligation, usually less lowest-risk investment because
bank bills and short-term bonds than 90 days, that provides a of its limited potential to rise
that are issued by governments return in the form of interest and fall in value over the short
and companies. payments (such as your own term. However, this perceived
Cash
bank account). safety comes at a price –
dedicated cash investments
typically may not earn enough
to meet long-term goals such
as retirement.
59
Asset class What is it? How does it work? What is the risk/return?
We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact Contents
Unlisted
assets
Private equity involves Private equity investments are The private equity market is
investments in entities or usually made to finance one or less efficient than the listed
vehicles that are not listed on more stages of a company’s market, and the companies are
securities exchanges. They growth cycle, ranging from less mature. This inefficiency
can be based in Australia and those businesses in the early creates opportunities for skilled
Private equity overseas. stages of development (venture managers to add value and to
capital) to more mature achieve strong returns but can
businesses seeking capital. also result in very significant
volatility.
Returns are generally derived
from the movements in the
value of the underlying assets.
Represents a broad spectrum Like fixed interest, credit Credit investments are mostly
of debt across a range of investments involve a loan to sub-investment grade and
sectors, security types and a borrower in exchange for therefore tend to be higher
both public and private markets. regular interest payments, yielding (and higher risk) than
The corporate bond market plus repayment of the original investment-grade debt.
is the largest sector within investment amount (principal)
These investments are likely
Credit
credit markets and consists at maturity. Loans may be based
to be more volatile than fixed
of debt issued by companies. on a fixed or floating interest
interest but less than listed
Other credit sectors include rate, with the latter providing
equities, with potential for
mortgage-backed and asset- protection in a rising interest
negative returns and illiquidity
backed securities. rate environment.
(particularly in the case of
private debt.)
Almost any non-traditional Alternative investments Alternatives aim to produce
investment strategy could generally aim to achieve a fixed unique return streams that are
be classified as an alternative return objective, rather than to less correlated to traditional
investment (e.g. hedge funds). outperform a specific sector markets. Return targets are
Alternatives benchmark. usually in excess of cash over
the long term. However, its
volatility over the long term is
generally higher than that of
fixed interest.
Bonds
and
cash
5.6 Growth vs defensive asset classes
Asset classes are classified as ‘growth’ or ‘defensive’, or a mixture of the two. The classification of a particular asset
class can indicate what level of risk applies to investing in that asset class.
Description
Growth assets generally provide relatively higher returns over the longer term with a corresponding
higher level of risk (increased chance of a negative return and greater volatility). A high proportion
Growth assets
of their returns are derived from capital growth. Examples include shares and private equity
investments.
Defensive assets are generally lower risk (less chance of a negative return), with a corresponding
expectation of lower returns over the longer term. A high proportion of their returns are derived
Defensive assets
from income (cash) flows. Examples include cash, term deposits and some fixed interest
investments.
Some asset classes, such as infrastructure, property and alternatives may have growth and
defensive characteristics.
How these asset classes derive a large proportion of their returns can also determine their
classification as mostly growth or defensive. For example, where assets such as infrastructure, Mix of growth
property and alternatives derive a high proportion of their returns from strong income (cash) flows
and defensive assets
rather than capital growth, in the same manner that bonds do, these assets may be classified as
mostly defensive. Where they derive a high proportion of their returns from capital growth rather
than income (cash) flows, in the same manner that equities do, these assets may be classified as
mostly growth.
5.7 How the asset classes have performed So, while it remains true that investment markets are hard
to predict, different asset classes tend not to all move in the
Investment markets are unpredictable. Past performance
same direction, at the same time, or at the same speed. shows that over shorter periods, it’s almost impossible
This is because the main asset classes react differently
to predict which asset class will earn the highest rate of
to influences such as growth, inflation, interest rates and
return. However, over the long-term, growth assets, like
exchange rates. A change that is good for one asset class
equity, have consistently earned a higher rate of return
can be bad for another. That’s why diversification is so
than defensive assets such as cash and fixed interest.
important to investors. Using diversification you may
While past performance is not a reliable indicator of future capture the returns you want, and manage the volatility,
A fixed interest investment (or Bond values are driven by While the fixed nature of
performance, it does give an insight into how each asset or risk, you want to avoid.
bond) is a loan to a government, prevailing interest rates interest payments provides
class has performed. Generally, the performance of
semi-government authority or and expected interest rate certainty of cash flows, changes
large corporation in exchange movements. In general, when to interest rates during the term growth assets is more unpredictable than the returns for
It makes sense to diversify your investment mix –
for regular interest payments, interest rates rise, the market of the loan will result in capital defensive assets. Australian and international shares have
plus repayment of the original value of bonds falls, and when gains (interest rate decline) or usually provided the highest returns over the long- term. and with Hostplus it’s easy. We have provided a broad
Diversified fixed investment amount (principal) interest rates fall, bond values losses (interest rate increase). Someone who invested in these asset classes generally range of pre-mixed, well-diversified investment
interest when the loan period ends. rise. This can have a significant The securities in the fixed would have done better than someone who put all their options, or alternatively, you can combine these
impact on performance. interest asset class are money in cash or fixed interest over the same period. with the single sector and or Choiceplus investment
generally investment-grade options which give you the opportunity to create
quality reflecting reduced your own investment mix based on your financial
default risk relative to high
needs and personal circumstances.
yielding sub-investment grade
debt (i.e. Credit).
Short-term highly liquid A cash investment is a short- Cash is considered to be the
securities such as deposits, term obligation, usually less lowest-risk investment because
bank bills and short-term bonds than 90 days, that provides a of its limited potential to rise
that are issued by governments return in the form of interest and fall in value over the short
and companies. payments (such as your own term. However, this perceived
Cash
bank account). safety comes at a price –
dedicated cash investments
typically may not earn enough
to meet long-term goals such
as retirement.
60
5.8 Understanding risk versus return Switching
Risk and return are interrelated.
5.10 Switching between investment options
Generally, the lower the risk for an investment, the
is easy and free
lower the expected return (or the lower the likelihood
With Hostplus, you’re not locked into an investment option
of a negative return). For a higher possible return on an
once you’ve made a choice. After all, your circumstances
investment, you increase the risk and the possibility of a
may change, your investment outlook may change or you
negative return from year to year.
may simply want to opt for a different approach.
For super, the level of risk will largely depend on the
Switches are processed on every national business day.*
asset classes you’re invested in through your chosen
investment option/s. * A national business day is a weekday that is not a national public
holiday or the NSW King’s Birthday public holiday
For example Switch requests between investment options received
before 4.00pm (NSW time) are transacted at the unit
MySuper, Hostplus Life and pre-mixed
prices applicable on the day your request is received,
investment options
otherwise they are not considered to have been received
· These investment options contain a mix of asset until the following national business day.
classes designed by Hostplus to align to different
However, the calculation of unit prices takes two national
risk and return objectives.
business days, and therefore these unit prices will only be
· For instance, our High Growth pre-mixed option available to you two national business days after receipt of
invests in all growth assets. It carries higher risk your requested investment switch.
because this asset class structure is designed to
For example, if you make a switch on a Monday, and
generate a higher potential return.
each of Monday, Tuesday and Wednesday are national
business days, then the unit prices used for your switch
will be those relating to Monday, and you will receive them
on Wednesday.
5.9 Is time on your side?
Just because investment values fall, this doesn’t Day Member action Unit price
necessarily mean that your investment will lose money. Monday Member raises Switch request
investment 'T' (day zero)
You don’t actually lose money until you sell an investment Day 0
switch before date
for less than you paid for it. So, if you do have a year or 4pm (NSW time)
two when your investment value falls, remember that if
Day 1 Tuesday
the strategy you have selected is for the long-term, then
Wednesday Effective date T + 2 date –
history has shown that investment markets usually go on
for member transaction/
to recover. investment switches are
Day 2 switch processed based
For example on the declared
unit price for day
You wouldn’t consider selling your house if market zero
values fell for a year or two.
For all transactions, the number of units allocated or
In the same way, your super is a long-term investment
redeemed is the dollar value of the transaction divided
and short-term fluctuations should not be overly
by the unit price of the relevant investment option. Your
concerning.
account balance is equal to the number of units you hold
in each investment option multiplied by the relevant unit
price for the option.
You can indicate your switch online through your Member
Online account at hostplus.com.au.
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61
5.11 Multiple switch requests 5.13 Investment switch restrictions
In the case of multiple investment switch requests To avoid conflicts of interest – where some Hostplus
received in the same day, including cash transfers to or Employees and Directors (“Access Persons”) have access
from Choiceplus, your latest request received will apply. to information not generally available – Hostplus imposes
Where you have made an investment switch or cash a Switching Window limitation. A Hostplus Access Person
transfer request as well as a benefit payment request who is aware of information that may impact decision-
in the same week, the benefit payment instruction will making, operation, performance, investment strategies or
override the investment switch or cash transfer and returns of the Fund, would generally be considered to hold
therefore your existing investment choice will apply. In inside information.
the case of a partial benefit request, it will also override
The limitation means such persons can only make
the latest investment switch or cash transfer for that
one investment switch, on an annual basis, during the
partial amount.
Switching Window – generally 1 August – 31 August, unless
the window is amended by the CEO. The CEO reserves the
5.12 Suspension of applications, switches,
right to declare a Switching Window closed at any time at
redemptions, and withdrawals
their sole discretion and without prior notice.
Hostplus may suspend or restrict applications, switches,
redemptions and withdrawal requests, for all or a particular
Some
investment option at our absolute discretion. In such
circumstances, transactions may not be processed or
additional information
may be processed with significant delay.
Hostplus may also decide to process a transaction 5.14 Options for investing your
request for a particular type of benefit from a suspended, account balance
restricted or closed option on a case-by-case basis.
Change your existing investment option only – this means that
Any decision about whether to process transactions
only your current balance will be invested in the investment
from such an option will be made in the best financial
option of your choice. All future contributions and/or
interests of members as a whole.
rollovers will be applied to the future investment option*.
We’ll process all impacted transaction requests using the
Change your future investment option only – this means
effective unit price applicable on the date the suspension
that only your future contributions and/or rollovers will be
is lifted, or the date special approval is granted if earlier.
invested in the investment option of your choice.
Unreasonable switching or transaction activity
The investment strategy applying to any current balance
Hostplus carries out monitoring of switching and other will not be altered. All future contributions and/or rollovers
transactions to identify activity that may be detrimental will be applied to your future investment option*.
to the Fund and other members. For example, this
Change your future investment option and existing
may include frequent switching into and out of an
investment option – this means that all your current
investment option.
balance and future contributions and/or rollovers will be
If unreasonable activity by a member is identified, invested in the investment option of your choice. All future
Hostplus may choose to suspend or remove a member contributions and/or rollovers will be applied to your future
from certain investment options or restrict transactions investment option*.
at its discretion. We will write to affected members if this
Make a one-off contribution or rollover investment choice
occurs. We may also suspend access to the Choiceplus
only – this means that your one-off contribution or rollover
investment platform at any time for unreasonable use as
will be invested in the investment option of your choice.
permitted under the Choiceplus terms and conditions
The investment strategy applying to any current balance
of use.
or your selected future contributions and/or rollovers will
not be altered and all future contributions and/or rollovers
will be applied to your future investment option*.
Please note that if you request a switch of your existing
balance at any time after a one-off contribution or rollover,
these monies will be considered part of your existing
balance and will subsequently be moved in accordance
with your switch request.
* Taxes, fees and costs, insurance premiums, withdrawals and partial
rollovers from your account are deducted from your nominated future
investment option. If you do not have sufficient funds in your future
investment option, these will be taken proportionally from your other
investment options as applicable.
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62
5.15 Our investments and Balanced option
investment managers
and CPIplus option
Asset classes are constructed either by direct
investments in assets or by appointing managers to
5.19 The investment relationship between
invest in assets. You can find a current list of managers
by asset class by navigating to the ‘Investment Manager the Balanced option and the CPIplus option
Allocations’ section of hostplus.com.au/about-us/ CPIplus is a Pension-only investment option. The CPIplus
company-overview/investment-governance. option is designed to offer returns that are more certain and
less volatile than those available by investing in growth assets,
5.16 The value of your investment
such as shares, while offering higher returns than those
When a member invests in any of Hostplus’ investment available by investing in conservative assets, such as cash.
options, the money is placed in a pool of funds along
This objective is sought to be achieved by an internal
with every other member who has chosen the same
investment mechanism whereby the rate of return of the
investment option.
CPIplus option is set at a predetermined rate (‘n’) above the
Each investment option is then broken up into units. Every Consumer Price Index (CPI) for specified Return Periods
unit the member holds in the investment pool represents (Return Period is the period that particular predetermined
their share of that investment option. returns apply to. This is usually 12 months from 1 July). This
means that returns for the return period are unaffected by
The initial units allocated to members will be determined
the returns on the underlying investments of the option.
by the member’s account balance divided by the unit price
for the investment option/s that members are invested in The assets of the CPIplus option are invested in the same
at the time of change. pool and alongside the Hostplus Balanced option (in the
Pension phase), which is the same pool of assets which
The unit price for each investment option is calculated by
the Fund’s Balanced option assets (in the Accumulation
dividing the value of the assets in the option (after allowing
and Transition to Retirement phases) are also invested in.
for fees, costs (including fees paid to investment managers)
Through the internal investment mechanism that sets and
and taxes) by the number of units on issue. As the value of
regulates the predetermined return for the CPIplus option,
these assets and liabilities can go up or down, the unit prices
the Balanced option (in the Accumulation phase) provides
for the different investment options can go up or down.
investors in the CPIplus option, the predetermined return
Members can see how much their investment holdings irrespective of market and performance outcomes.
are worth on any day by looking up the unit price for
While the return to the CPIplus option is predetermined,
the chosen investment option and multiplying it by the
the Balanced option (in the Accumulation phase) receives
number of units held in a particular option/s.
the benefit of any excess market returns generated on
5.17 How Hostplus manages the Strategic the underlying assets of the CPIplus option. If, however,
the investment return generated on the underlying assets
Asset Allocation
of the CPIplus option falls short of the predetermined
Hostplus seeks to ensure that each investment option is
return, the Balanced option (in the Accumulation
managed within its strategic parameters, as represented
phase) makes up the shortfall. This mechanism could
by the asset class ranges around its strategic asset
therefore result in the Balanced option returns (in the
allocation benchmarks.
Accumulation phase) being either increased or decreased,
Market valuation movements and member-related depending on how the market returns compare to the
cashflows can impact upon these asset allocation predetermined returns.
settings. Accordingly, and based upon its current and
A key assumption of this internal return arrangement is that
prospective views of markets, Hostplus can choose to the CPIplus option’s assets produce a return sufficiently
alter these settings as required, albeit while remaining above that of CPI over the long term (10- and 20-year
within the required asset class ranges. periods) to adequately and appropriately compensate
the Balanced option (in the Accumulation phase) for the
Hostplus can do so by engaging in transactions with the
corresponding investment risk undertaken by that option.
underlying managers, but also by rebalancing, whereby
the underlying assets can be redistributed across different Hostplus, and independent modelling commissioned by
investment options. Hostplus, estimates that over the long term, i.e., 10- and 20-
year periods, the probability of the Balanced option (in the
5.18 End of financial year unit price Accumulation Phase) achieving a return sufficient to both
Hostplus has a formal calculation of unit prices on 30 June meet the CPIplus option return and adequately compensate
each year. The reason we have a formal calculation is to the Balanced option (in the Accumulation phase) for the
ensure we value your account at the end of each financial assumed investment risk in doing so, is very high.
year using the most recent market valuations.
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63
The process and internal investment mechanism for · Active ownership (through engagement and proxy
setting the predetermined CPIplus option’s return voting) is critical to the governance of investments
requires and involves balancing the relative interests of over the long-term. It is also an effective strategy
members in the CPIplus option with those of members in for positively influencing company behaviour and
the Balanced option (in the Accumulation phase), and while performance and can therefore contribute positively
this arrangement produces additional volatility and risk for to long-term returns.
the Balanced option (in the Accumulation phase), these
· Conversely, divestment from a company or sector
are within the Trustee’s current investment risk appetite
means losing influence and, if done for non-financial
and policy. Hostplus has appropriate fiduciary polices,
reasons, may impede the Fund’s ability to deliver the
processes and mechanisms to meet these requirements,
highest possible return to members while assessing
which are formally reviewed and substantiated by the
and effectively managing all foreseeable risks.
Trustee, with the assistance of its independent investment
consultant and other subject matter experts as deemed As part of our commitment to responsible investing,
appropriate, at least annually as part of its annual we also give due regard to the Australian Council of
investment strategy review. Superannuation Investors (ACSI) Governance Guidelines,
ACSI Australian Asset Owners Stewardship Code, and the
For more information about the CPIplus investment
United Nations’ Principles for Responsible Investment.
option, please refer to hostplus.com.au/members/
retirement/retirement-investment-options/cpiplus Read more in our Responsible Investment Policy at
hostplus.com.au/about-us/company-overview/
Responsible investing investment-governance.
ESG integration
5.20 Responsible investment – general
Hostplus’ approach to responsible investment is
As a profit-for-member superannuation fund, Hostplus is influenced by our investment strategy, including direct
run only to benefit members. Our primary duty is to deliver investment or outsourcing to investment managers
the best retirement outcomes for our members. These to invest on our behalf. The way and extent to which
responsibilities guide every decision we make, and great responsible investment is incorporated into investment
care is taken to ensure each action fulfils these duties. decisions will differ across the portfolio and is dependent
on the relevance of ESG factors to a particular asset class
Responsible investment is an important part of our
and the style of the investment strategy.
investment approach that helps us better manage risk
and optimise retirement outcomes for our members. Our Here are some examples of ESG factors we may consider:
approach to responsible investment is informed by our
responsible investment beliefs and implemented through Environmental Social Governance
our Responsible Investment Policy. · Climate change* · Human rights · Board structure,
size, diversity,
· Pollution and · Labour rights**
Here’s an overview of our investment beliefs: skills and
waste
· Health & safety independence
· We believe that risks are better managed, and · Resource
· Employee · Executive
investment outcomes optimised, when a holistic depletion
relations remuneration
investment approach is adopted. That includes · Biodiversity
· Human capital · Shareholder
identifying and integrating ESG risks and opportunities,
· Land use changes management rights
and active ownership of investee companies
· Indigenous and · Corporate culture
and assets.
First Nations and ethics
People
· We recognise that climate change may influence · Bribery and
the performance of the Fund’s investments over · Local corruption
communities’
time and that the impact will be dependent on the · Risk management
relations
extent of physical, social and regulatory changes. We · Lobbying
· Consumer
recognise that we must, in the best financial interests
protection · Tax strategy
of members, manage the financial risk due to climate
· Animal welfare
change in our portfolio by incorporating climate change
into the investment process. * More information on Hostplus' approach to climate change go to
hostplus.com.au/investment/investment-governance/climate-change.
· ESG factors have the potential to be material to
** The labour standards Hostplus' investment managers take into
investment risk and return and may not be efficiently account in selecting, retaining, and realising Hostplus' investments will
priced by markets. Considering ESG factors may vary between region, asset class, and investment option.
lead to more complete analysis and better-informed
investment decisions.
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64
ESG considerations will be one factor that informs Active ownership
how Hostplus’ investment managers invest on behalf
Our preference is to retain exposure to a broad range of
of Hostplus, including decisions about the selection,
sectors and seek to create change within companies or
retention or realisation of Hostplus’ investments across
sectors that we invest in through engagement rather than
the portfolio.
divest from a company or sector and lose influence.
ESG factors will generally be considered in making
Therefore, Hostplus pursues an active ownership program
investment decisions, to the extent that Hostplus'
(which includes engagement and proxy voting) seeking to
investment managers form the view that consideration
positively influence company behaviour and performance
of ESG factors will be in the best financial interests
and therefore contribute positively to long-term returns.
of members.
Key principles which direct our engagement and proxy
ESG factors are considered as part of our annual strategic
voting focus on board oversight and accountability,
asset allocation process and are taken into account in
shareholder rights, major transactions, remuneration and
setting investment objectives.
ESG risk management and disclosure. Hostplus engages
One example is that Hostplus, together with its with companies primarily through its membership of the
investment adviser, JANA Investment Advisers Pty Ltd Australian Council of Superannuation Investors (ACSI) and
(JANA), also reviews investment managers’ abilities EOS at Federated Hermes, as well as directly and through
to integrate ESG risks and opportunities into their investment managers.
investment decision making process as part of the
We also take our proxy voting rights seriously, aiming
investment manager selection and review process. While
to vote in all matters where it is practical for us to do
the approach to ESG integration may vary by manager,
so. We make our voting decisions taking into account
each manager’s ability to consider and evaluate ESG
voting guidance from specialist service providers,
factors must be in line with that of their asset class peer
recommendations from our investment managers and
group at a minimum for inclusion in the portfolio.
based on Hostplus’ key engagement and voting principles.
While consideration of ESG factors (labour standards,
More information about our approach to proxy voting can
environmental, social and ethical considerations) is part
be found in our Responsible Investment Policy and we
of Hostplus' Responsible Investment Policy, Hostplus has
publicly disclose a full record of our voting decisions on the
determined that a policy of explicitly banning controversial
investment governance section of our website: hostplus.
weapons from our investment portfolios will apply to all
com.au/super/about-us/investment-governance.
of the Fund's investments where Hostplus has a high
The information in this Section contains general advice only and does
degree of control over investment exposures. Please
not take into account your personal objectives, financial situation or
note, it may not be practicable to exclude controversial needs. You should consider if this information is appropriate for you
weapons in respect of investments where we do not in light of your circumstances before acting on it. You may also find
it beneficial to obtain advice from a licensed financial adviser. Past
have a high degree of control such as investments
performance is not a reliable indicator of future performance. For
held via pooled fund vehicles, securitised financial a description of the target market, please read the Target Market
instruments such as collateralised loan obligations, and Determination (TMD), available at hostplus.com.au/ddo.
fund-of-fund structures. Notwithstanding this, Hostplus While every care has been taken to ensure that the information in this
document is correct, Hostplus reserves the right to correct any error
will work with the investment managers which control
or misprint in respect of the information shown. Any updated PDSs will
those investments to seek to exclude exposure to
be available on our website at hostplus.com.au.
controversial weapons.
Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as
trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657
Our Socially Responsible Investments (SRI) apply a range
495 890, MySuper No. 68657495890198.
of additional filters. See page 43 for further information.
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65
5.21 Glossary – Investment terms
Term Meaning
Assets An asset is a resource with economic value that individuals, corporations, or countries can own
or control, with the expectation that a future benefit will be provided. They are also grouped into
asset classes such as cash, fixed interest, property, infrastructure, and equity (see Understanding
asset classes).
Asset allocation This means the spread of investments within an investment portfolio across various asset classes.
Benchmark A standard against which the performance of a security, asset class or investment manager can be
measured. For example, a share market index (which represents a broad mix of shares listed on a
stock exchange) can be used as a benchmark for listed equity investments.
CPI The Consumer Price Index, known as CPI, is a measure of the average change over time in the
prices paid by households for a fixed basket of goods and services.
Diversification level Diversification can arise from having broad exposures to investments across differing asset
classes, companies, industries, geographies, company capital structures, active asset
management styles, currencies and counterparties. These, and other diversifiers, are considered
when determining the diversification level applicable within an investment option.
To assist members in making an informed choice, Hostplus has used the following descriptions of
the level of diversification applicable to each investment option:
High diversification means that the investment option has wide levels of exposures across these
diversifiers, including over multiple asset classes. For example, the Balanced option is invested
across multiple asset classes including unlisted assets, as well as multiple investment managers,
geographies, company capital structures, active asset management styles, currencies and
counterparties.
Medium diversification means that the investment option has intermediate levels of exposures
across these diversifiers, sometimes over multiple asset classes. For example, the Indexed
Balanced option is invested across a number of investment managers, assets, and geographies,
but is limited to investing in listed companies, bonds and cash.
Low diversification means that the investment option has more limited levels of exposures across
these diversifiers and rarely over multiple asset classes. For example, the Australian Shares option
is diversified across multiple companies and investment managers, predominately investing in the
Australian shares asset class.
These terms appear in the 'summary' and 'who is this investment suitable for?' of our investment
options in sections 5.2 to 5.5.
Growth assets label To assist members in making an informed choice, Hostplus has used the following criteria to
categorise the bias to growth assets of our investment options:
All growth means 100% growth assets
Strong bias to growth means > 80% to < 100% growth assets
Bias to growth means > 60% to = 80% growth assets
Similar proportion of growth and defensive means > 40% to = 60% growth assets
Bias to defensive means > 20% to = 40% growth assets
Strong bias to defensive means > 0% to =20% growth assets
All defensive means 0% growth assets
These terms appear in the 'summary' and 'who is this investment suitable for?' of our investment
options in sections 5.2 to 5.5.
Hedge fund A fund that invests in complex strategies in shares and other securities. It aims to achieve positive
returns in both rising and falling markets, while using strategies to reduce the chance of loss.
Impact of foreign The impact of foreign currency movement is the possibility of losing money due to unfavourable
currency movements moves in exchange rates. Investments in overseas markets are exposed to the impact of foreign
currency movement unless hedged.
Inflation Inflation is the increase in the general price level of goods and services in the economy. It is usually
measured using the movements of the consumer price index (CPI).
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66
Term Meaning
Investment grade Refers to a company's credit rating. To be considered investment grade, the company must be
rated 'BBB' or higher by a credit ratings agency, like Standard and Poor's or Moody's. Anything below
a 'BBB' rating is considered non-investment grade.
Investment objective The 'investment objective' means the return that an investment option aims to achieve. This return
is inclusive of taxes and investment fees and costs (before deducting administration fees).
Investment style Hostplus investments invest in three distinct investment styles. These are:
Core: These investment options focus on delivering the best net return for a given level of risk.
They take full advantage of Hostplus' investment expertise, and feature our best investment ideas
across listed and unlisted assets, bonds and cash.
Indexed: These investment options focus on minimising investment fees and costs They generally
use a passive investment style to invest in listed companies, bonds and cash, and aim to track the
returns of the markets in which they invest.
Socially Responsible Investment (SRI): These investment options focus on values-based
investing. They seek to reduce exposure to industry segments within fossil fuels and tobacco
production, as well as other factors.
Minimum suggested To assist members in making an informed choice, Hostplus has used the following criteria to
investment timeframe categorise the expected investment time frame applicable to the target market for our investment
options. The labels outlined below are based on the minimum suggested investment time frames
for each Hostplus investment option.
Long term means 7 years or more
Medium to long term means 5 years to < 7 years
Short term means < 5 years
These terms appear in the 'summary' and 'who is this investment suitable for?' of our investment
options in sections 5.2 to 5.5.
Liquidity Liquidity refers to the ability to convert an investment into cash with little or no loss of capital and
minimum delay.
Long-term returns label To assist members in making an informed choice, Hostplus has used the following criteria to
categorise the expected returns of our investment options. The labels outlined below are based on
the long-term return objectives (20 years) for each of Hostplus’ investment options:
Very strong means > CPI + 4%
Strong means > CPI + 3% to = CPI + 4%
Moderate means > CPI + 2% to = CPI + 3%
Modest means > CPI + 1% to = CPI + 2%
Stable means CPI + 1% or less
These terms appear in the 'summary' and 'who is this investment suitable for?' of our investment
options in sections 5.2 to 5.5.
Level of investment risk The level of investment risk is based on an industry-wide Standard Risk Measure (see 4.3
Investment risk measure) that shows the number of expected negative annual returns over a
20-year period To assist members in making an informed choice, Hostplus has used the following
criteria to indicate the level of tolerance to negative returns that a member would require for each
of its investment options:
Very high tolerance means 6 or greater years out of 20 years.
High tolerance means equal to 4 to less than 6 years out of 20 years.
Medium to high tolerance means equal to 3 to less than 4 years out of 20 years.
Medium tolerance means equal to 2 to less than 3 years out of 20 years.
Low to medium tolerance means equal to 1 to less than 2 years out of 20 years.
Low tolerance means equal to 0.5 to less than 1 year out of 20 years.
Very low tolerance means less than 0.5 years out of 20 years.
These terms appear in the 'summary' and 'who is this investment suitable for?' of our investment
options in sections 5.2 to 5.5.
Portfolio A portfolio is a range of investments held by a person or organisation.
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67
Term Meaning
Pre-mixed These investment options invest in combinations of asset classes.
Each pre-mixed option has its own mix of growth and defensive assets, investment objective, and
level of investment risk.
Returns Returns may include both the income received from the investment and/or an increase or
decrease in the capital value of the investment.
SAA (Strategic Asset SAA is a target mix of asset classes (such as shares, property, and cash) which is used to
Allocation) Benchmark implement an investment strategy for a fund’s investment option. It takes into account the option’s
investment return objective, risk tolerance and investment time horizon.
Single sector The single sector investment options predominantly invest in a specific asset class, such as Cash
or Australian Shares.
Volatility The short-term fluctuations in share prices, exchange rates and interest rates that affect an
investment. The higher the volatility, the less certain an investor is of the return within a set time
frame and hence volatility is one measure of risk.
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Section 6.
Fees and costs
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69
6.2 Fees and other costs
Section 6.
This section shows fees and other costs that you may be
Fees and costs charged. These fees and other costs may be deducted
from your money, from the returns on your investment or
from the assets of the superannuation entity as a whole.
Other fees, such as activity fees, advice fees for personal
As an industry super fund, Hostplus administration fees are advice and insurance fees may also be charged, but
$1.50 per week. An additional $37.26 p.a. per member is also these will depend on the nature of the activity, advice or
deducted from the Fund’s Administration Reserve during insurance chosen by you. Entry fees and exit fees cannot
the year and not directly from members' account balances. be charged.
Like other super funds, investment fees and costs do apply.
Taxes, insurance fees and other costs relating to insurance
But we do strive to ensure our investment fees and costs
are set out in another part of this document.
are competitive. Other fees and costs apply.
You should read all the information about fees and other
6.1 Consumer Advisory Warning
costs because it is important to understand their impact
on your investment.
DID YOU KNOW?
The fees and other costs for the MySuper product and
Small differences in both investment performance
each investment option offered by Hostplus, are set out
and fees and costs can have a substantial impact
on the following pages.
on your long-term returns.
For example, total annual fees and costs of 2% of
your account balance rather than 1% could reduce
your final return by up to 20% over a 30-year
period (for example, reduce it from $100,000
to $80,000).
You should consider whether features such as
superior investment performance or the provision
of better member services justify higher fees
and costs.
You or your employer, as applicable, may be able
to negotiate to pay lower fees. Ask the fund or
your financial adviser.
TO FIND OUT MORE:
If you would like to find out more, or see the impact
of the fees based on your own circumstances,
the Australian Securities and Investments
Commission (ASIC) Moneysmart website (www.
moneysmart.gov.au) has a superannuation calculator
to help you check out different fee options.
Please note: This Consumer Advisory Warning is
prescribed by law. However, the statement concerning
the possibility of negotiating fees is not applicable
to Hostplus.
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70
Fees and costs summary
Hostplus Superannuation and Personal Super Plan
Type of fee Amount How and when paid
Ongoing annual fees and costs1
$78.00 p.a. ($1.50 per week) Deducted monthly from your account on the last
Friday of each month, based on the number of Fridays
in the month.3
Administration
fees and costs2
plus $37.26 p.a. Deducted from the Fund’s Administration Reserve
throughout the year (and not from your account).
0.96% for the Balanced option and varies between Deducted daily from gross investment earnings before
Investment 0.02% and 0.85% for other investment option(s).5 net investment returns are applied to your account.
fees and costs4
See Section 6.4 for further information.
0.06% for the Balanced option and varies between Deducted from gross investment earnings as and
Transaction
0.00% and 0.09% for other investment option(s).5 when incurred before net investment returns are
costs
See Section 6.4 for further information applied to your account.
Member activity related fees and costs
Buy–sell spread Nil Not applicable
Switching fee Nil Not applicable
Other fees See 'Additional explanation of fees and costs' for a description of other fees and costs; such as activity fees,
and costs advice fees for personal advice, insurance fees and Choiceplus investment option fees
1. If your account balance for a product offered by the superannuation entity is less than $6,000 at the end of the entity’s income year, certain fees
and costs charged to you in relation to administration and investment are capped at 3% of the account balance. Any amount charged in excess of
that cap must be refunded.
2. Administration fees and costs (with the exception of the deduction from the Fund’s Administration Reserve) are proportionally deducted from
your chosen investment option/s.
3. The $1.50 weekly administration fee is a flat fee. It is not calculated on a pro-rata basis. It begins accruing on the later of: (a) the first Friday
following the date you join the Fund; and (b) the first Friday of the calendar month the first contribution is received.
4. Investment fees and costs includes an amount up to 0.35% for performance fees. The calculation basis for this amount is set out under
“Additional explanation of fees and costs” in the Member Guide. Additional fees and costs apply for your investments in Choiceplus. See page 75
for further information.
5. These fees and costs are based on actual figures and estimates from the previous financial year, except in the case of performance fees which
are generally averaged over 5 financial years. The fees and costs payable in respect of each future year may be higher or lower. Where estimates
were used, they have been informed by management, historical and industry experience, as well as information from third party service providers.
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71
6.3 Example of annual fees and costs for a Cost of product for 1 year
superannuation product The cost of product gives a summary calculation about
how ongoing annual fees and costs can affect your
This table gives an example of how the ongoing annual fees
superannuation investment over a 1-year period for all
and costs for the default Balanced investment option for
superannuation products and investment options. It is
this superannuation product can affect your superannuation
calculated in the manner shown in the Example of annual
investment over a 1-year period. You should use this
fees and costs.
table to compare this superannuation product with other
superannuation products. The cost of product information assumes a balance of
$50,000 at the beginning of the year. (Additional fees such
Example – Hostplus Balance of $50,000
as a buy-sell spread may apply: refer to the Fees and costs
Balanced option
summary for the relevant superannuation product or
$78.00 p.a. For every $50,000
investment option.)
(deducted from you have in the
your Hostplus superannuation product, You should use this figure to help compare
account) you will be charged
superannuation products and investment options.
$115.26, regardless of
Administration plus
your balance
fees and costs $37.26 p.a. Investment option Cost of product
(deducted High Growth $505.26
from the Fund’s
Administration Growth $570.26
Reserve)
Balanced $625.26
And, you will be charged
PLUS Conservative Balanced $510.26
or have deducted from
Investment 0.96%
your investment $480 in Capital Stable $460.26
fees and costs
investment fees and costs
Defensive $250.26
And, you will be charged
PLUS Indexed High Growth $140.26
or have deducted from
Transaction 0.06%
costs your investment $30 in Indexed Growth $140.26
transaction costs
Indexed Balanced $135.26
If your balance was
$50,000, at the beginning Indexed Conservative Balanced $145.26
EQUALS of the year, then for that
Cost of year you will be charged Indexed Capital Stable $150.26
product fees and costs of $625.26 Indexed Defensive $150.26
for the superannuation
product. Socially Responsible Investment (SRI) – $410.26
High Growth
Note: Additional fees may apply. The administration fee of Socially Responsible Investment (SRI) – $455.26
$1.50 per week is deducted from your account monthly, Balanced
on the last Friday of the month. The amount charged per Socially Responsible Investment (SRI) – $190.26
annum depends on the number of Fridays in a year. Defensive
The fees and costs charged if you invest via the Australian Shares $350.26
Choiceplus platform relate to Choiceplus and access to
Australian Shares – Indexed $135.26
Choiceplus investments only, and do not include the fees
International Shares $385.26
and costs that relate to investing in those investments.
Additional fees and costs will be charged by the issuers of International Shares – Indexed $155.26
the Choiceplus investments that you decide to invest in.
International Shares (Hedged) – Indexed $140.26
International Shares – Emerging Markets $410.26
Diversified Fixed Interest $265.26
Diversified Fixed Interest – Indexed $170.26
Cash $125.26
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72
6.4 Additional explanation of fees and costs
Hostplus Superannuation and Personal Super Plan
Investment option Investment fees Performance Transaction Total
and costs (excl Fee costs investment
Performance Fees) fees and costs
High Growth 0.50% 0.22% 0.06% 0.78%
Growth 0.57% 0.28% 0.06% 0.91%
Balanced 0.61% 0.35% 0.06% 1.02%
Conservative Balanced 0.49% 0.24% 0.06% 0.79%
Capital Stable 0.43% 0.21% 0.05% 0.69%
Defensive 0.19% 0.04% 0.04% 0.27%
Indexed High Growth 0.05% 0.00% 0.00% 0.05%
Indexed Growth 0.04% 0.00% 0.01% 0.05%
Indexed Balanced 0.03% 0.00% 0.01% 0.04%
Indexed Conservative Balanced 0.04% 0.00% 0.02% 0.06%
Indexed Capital Stable 0.04% 0.00% 0.03% 0.07%
Indexed Defensive 0.05% 0.00% 0.02% 0.07%
Socially Responsible Investment (SRI) – High Growth 0.27% 0.31% 0.01% 0.59%
Socially Responsible Investment (SRI) – Balanced 0.35% 0.26% 0.07% 0.68%
Socially Responsible Investment (SRI) – Defensive 0.11% 0.00% 0.04% 0.15%
Australian Shares 0.31% 0.08% 0.08% 0.47%
Australian Shares – Indexed 0.04% 0.00% 0.00% 0.04%
International Shares 0.45% 0.03% 0.06% 0.54%
International Shares – Indexed 0.08% 0.00% 0.00% 0.08%
International Shares (Hedged) – Indexed 0.05% 0.00% 0.00% 0.05%
International Shares – Emerging Markets 0.50% 0.00% 0.09% 0.59%
Diversified Fixed Interest 0.23% 0.00% 0.07% 0.30%
Diversified Fixed Interest – Indexed 0.04% 0.00% 0.07% 0.11%
Cash 0.02% 0.00% 0.00% 0.02%
These costs are based on actual figures and estimates. The costs payable in respect of each future year may be higher or lower.
The figures in the above table may change in subsequent years depending on (for example) the performance of each
option. Investment fees and costs are deducted before the net investment return for each investment option are
declared and applied to members’ accounts.
See Section 7 for information on tax.
Please note: all fees and costs are inclusive of income tax, stamp duty (if applicable) and GST less any input tax credits.
Any tax deduction on investment costs are returned to the fund.
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73
Defined fees b. costs incurred by the trustee of the entity that:
1. Activity fees i. relate to the investment of assets of the entity; and
ii. are not otherwise charged as administration fees
A fee is an activity fee if:
and costs, a buy-sell spread, a switching fee, an
a. the fee relates to costs incurred by the trustee of the
activity fee, an advice fee or an insurance fee.
superannuation entity that are directly related to an
activity of the trustee: 7. Switching fees
i. that is engaged in at the request, or with the A switching fee for a MySuper product is a fee to recover
consent, of a member; or the costs of switching all or part of a member's interest
ii. that relates to a member and is required by law; and in a superannuation entity from one class of beneficial
interest in the entity to another.
b. those costs are not otherwise charged as
administration fees and costs, investment fees and A switching fee for a superannuation product other than a
costs, transaction costs, a buy sell spread, a switching MySuper product, is a fee to recover the costs of switching
fee, an advice fee or an insurance fee. all or part of a member’s interest in the superannuation
entity from one investment option or product in the entity
2. Administration fees and costs
to another.
Administration fees and costs are fees and costs
8. Transaction costs
that relate to the administration or operation of the
superannuation entity and includes costs that: Transaction costs are costs associated with the sale and
purchase of assets of the superannuation entity other
a. relate to that administration or operation; and
than costs that are recovered by the superannuation
b. are not otherwise charged as investment fees and
entity charging buy-sell spreads.
costs, a buy-sell spread, a switching fee, an activity fee,
an advice fee or an insurance fee. Additional explanation of fees and costs
3. Advice Fees 1. Activity fees
A fee is an advice fee if: The following are types of activity fees.
a. the fee relates directly to costs incurred by the trustee Family Law fee
of the superannuation entity because of the provision
Under family law, your spouse, a person considering
of financial product advice to a member by:
entering into a superannuation agreement with you, or their
i. a trustee of the entity; or authorised representative, can request information about
ii. another person acting as an employee of, or under your account. Hostplus charges no fee for supplying this
an arrangement with, the trustee of the entity; and requested information.
b. those costs are not otherwise charged as Hostplus also charges no fee for splitting the interest in
administration fees and costs, investment fees your account upon receipt of a splitting agreement or
and costs, a switching fee, an activity fee or an court order.
insurance fee.
Dishonoured payment fees
4. Buy-sell spreads
If you make a contribution by cheque or direct debit that is
A buy-sell spread is a fee to recover costs incurred by the dishonoured, a handling fee of $15 will be deducted from
trustee of the superannuation entity in relation to the sale your account.
and purchase of assets of the entity.
Contribution splitting fees
5. Exit fees A $60 contribution splitting fee will be payable by the
An exit fee is a fee, other than a buy-sell spread, that splitting member for each transaction which will be
relates to the disposal of all or part of a member's interests deducted from the member’s account.
in a superannuation entity.
2. Administration fees and costs
6. Investment fees and costs $78 in Administration fees and costs are deducted from
Investment fees and costs are fees and costs that relate your account over the year and paid into the Fund's
to the investment of the assets of a superannuation entity Administration Reserve. A further $37.26 per member
and includes: is also deducted from the Administration Reserve. This
amount does not impact or reduce your account balance.
a. fees in payment for the exercise of care and expertise in
It is based on information from the previous financial year.
the investment of those assets (including performance
The administration fees and costs payable in respect of
fees); and
each future year may be higher or lower.
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74
The Fund's Administration Reserve is separately Hostplus calculates performance fees for an option by
maintained by the Trustee to manage the receipt of reference to the performance fees that were accrued
administration fees and costs and the payment of in relation to the underlying investments of that option,
Fund expenditure. Any tax benefit associated with Fund averaged over the previous 5 financial years, noting that:
expenditure is paid into the Fund’s Administration Reserve.
a. where an underlying investment was not in existence
for the previous 5 financial years, Hostplus calculates
3. Advice Fees
the average performance fee by reference to the
Financial advice fees are subject to annual fee caps and
number of financial years in which the investment was
a minimum account balance being retained after the
in existence;
deduction of your fee(s). Please refer to the Advice Fee
b. where an underlying investment did not have a
Fact Sheet for more information.
performance fee charging mechanism in place in each
Hostplus members may choose to engage a financial of the previous 5 financial years, Hostplus calculates the
planner employed by Hostplus¹ or an externally licensed average performance fee by reference to the number
financial planner. An advice fee may only be deducted from of financial years in which the underlying investment
your Hostplus account for advice that relates solely to had a performance fee charging mechanism in
your interests in Hostplus and your adviser is registered place; and
with Hostplus. c. where an underlying investment was created in the
current financial year, Hostplus calculates the average
Intrafund advice refers to limited or scaled personal
performance fee by reference to its reasonable
advice which is available to members at no additional cost.
estimate of the performance fee for the current
For further information, refer to our Advice Fee Fact Sheet
financial year.
hostplus.com.au/advice-fee.
Hostplus has engaged Industry Fund Services Limited (IFS) ABN 54 007 How we estimate our investment fees and costs
016 195, AFSL 232514 to facilitate the provision of personal financial
Investment fees and costs are based on actual figures and
advice to members of Hostplus. Advice is provided by Hostplus
financial planners who are Authorised Representatives of IFS. Fees estimates. The estimated information was informed by
may apply for personal financial advice; for further information about information obtained from investment managers.
the cost of personal advice, you can speak with your Hostplus financial
planner or visit our website www.hostplus.com.au. Information to help
7. Switching fees
you decide whether you want to use personal financial advice services
being offered is set out in the relevant IFS Financial Services Guide, a Hostplus does not charge members switching fees.
copy of which is available from your Hostplus financial planner.
8. Transaction costs
4. Buy-sell spreads
Transaction costs are associated with acquiring or
Hostplus does not charge members any buy-sell
disposing investments and can include costs such as
spread fees.
brokerage, settlement costs, stamp duty and clearing
5. Exit fees costs. Transaction costs are deducted from the valuation
The Law prohibits superannuation fund trustees from of investments before unit prices are calculated. They may
charging exit fees. be paid directly by Hostplus or from an interposed vehicle.
6. Investment fees and costs Transaction costs are not directly charged to members
but are an additional cost to the member if not recovered
Performance fee
in the form of a buy-sell spread fee. The transaction costs
In certain circumstances, Hostplus agrees, as part of
shown in the fees and costs summary is shown net of any
the fees payable to an investment manager, to pay a
amount recovered by a buy-sell spread charged by Hostplus.
performance fee. Performance fees are payable to
Hostplus does not charge a buy-sell spread to its members.
investment managers if they outperform required
performance targets. The performance fees payable
varies between the underlying investment managers
and may change from year to year.
These performance fees are included within the
investment fees and costs and are borne by members
invested in an investment option before investment
earnings are declared and applied to their account.
Investment fees and costs can change as a result
of changes to the performance fees.
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75
9. Insurance fees Brokerage fees for shares and ETFs and LICs.
A fee is an insurance fee for a superannuation product if: Whenever you buy and sell shares, ETFs and/or LICs there
a. the fee relates directly to either or both of is a brokerage fee that will be applied.
the following:
Brokerage fee per trade
i. insurance premiums paid by the trustee of a
superannuation entity in relation to a member Transaction value Brokerage fee
or members of the entity; $0.00 to $13,000.00 $13.00
ii. costs incurred by the trustee of a $13,000.01 to $250,000.00 0.10% of trade value
superannuation entity in relation to the provision
of insurance for a member or members of the The brokerage fee payable depends on the transaction
entity; and amount and where it falls within the above ranges (only
one range is applicable per trade). For example, a $9,000
b. the fee does not relate to any part of a premium paid
trade would incur a brokerage fee of $13.00. If you
or cost incurred in relation to a life policy or a contract
placed a $45,000 trade, your total brokerage would be
of insurance that relates to a benefit to the member
calculated as:
that is based on the performance of an investment
rather than the realisation of a risk; and
$45,000 X 0.10% = $45.00.
c. the premiums and costs to which the fee relates are
not otherwise charged as administration fees and For all limit and market orders which are not fully executed
costs, investment fees and costs, transaction costs, on the same trading day, normal brokerage will be charged
a switching fee, an activity fee or an advice fee. for the total portion executed per day.
Applicable insurance premiums are deducted from your Management fees for ETFs and LICs.
account on a monthly basis. See Section 8 for information
The price quoted on the ASX for each ETF or LIC reflects
on the premiums associated with your insurance cover.
all fees and expenses incurred in the management of that
10. Fees and costs for the Choiceplus ETF or LIC. Management fees, custody costs and other
investment option expenses are included in the ETF & LIC fees and deducted
from the returns of the underlying securities in the ETF
The fees and costs set out below are current at the date
or LIC. These fees may cause the total return of the ETF
of this publication but may vary from time to time in the
or LIC to be different to the return of the underlying index
future. For more information about Choiceplus download
which the ETF or LIC aims to track.
the Choiceplus Guide.
Portfolio administration fee.
The fees and costs charged if you invest via the
In addition to the fees and costs, as disclosed in our
Choiceplus platform relate to Choiceplus and
various product disclosure statements and guides, the
access to Choiceplus investments only, and do not
Choiceplus investment option includes an additional
include the fees and costs that relate to investing
portfolio administration fee of $168.00 a year (approximately
in those investments. Additional fees and costs
$14.00 a month). The portfolio administration fee will be
will be charged by the issuers of the Choiceplus
accrued daily and deducted directly from your Choiceplus
investments that you decide to invest in.
transaction account at the end of each month. A portfolio
administration fee will be payable for each Choiceplus
account held by you. There are no portfolio administration
11. Superannuation tax
fees included with the free access level to Choiceplus
See Section 7 for information on tax. Please note; all fees
however members with free access are restricted from
and costs are inclusive of GST (unless otherwise stated) less
transacting on the Choiceplus platform.
any input tax credits and stamp duty (if applicable). The fund
Transaction account fees and costs. passes on any tax deduction on investment costs in the
form of higher returns to beneficiaries. For more information
Your transaction account within Choiceplus is subject to a
on tax and your Choiceplus investment options please refer
fee of 0.10% of your transaction account balance. This fee
to the Choiceplus Guide available at hostplus.com.au
is not separately deducted from your account balance. It
is deducted daily from gross interest earnings before net
interest returns are applied to your transaction account.
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76
12. Fee changes
We are required to let you know 30 days before an increase in
fees takes effect where required by law.
In addition, we may introduce or change the amount of
fees or costs at our discretion and without members’
consent, including where increased charges are incurred
due to government changes to legislation; increased costs;
significant changes to economic conditions and/or the
imposition or increase of processing charges by third parties.
The information in this Section contains general advice only and does
not take into account your personal objectives, financial situation or
needs. You should consider if this information is appropriate for you
in light of your circumstances before acting on it. You may also find
it beneficial to obtain advice from a licensed financial adviser. Past
performance is not a reliable indicator of future performance. For
a description of the target market, please read the Target Market
Determination (TMD), available at hostplus.com.au/ddo
While every care has been taken to ensure that the information in this
document is correct, Hostplus reserves the right to correct any error
or misprint in respect of the information shown. Any updated PDSs will
be available on our website at hostplus.com.au.
Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as
trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657
495 890, MySuper No. 68657495890198.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Section 7.
How super
is taxed
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78
The additional tax will be deducted:
Section 7.
· for contributions – each year as at 30 June or upon
How super is taxed the member exiting Hostplus.
· for benefits – upon payment of a benefit.
If you do not have a TFN contact the ATO ato.gov.au
on 13 28 61.
Here's a brief summary of how your super is taxed. It's
quite different to the income tax you're used to and can be SuperMatch
complex. So we recommend that you seek independent,
If you have provided consent to the fund, and your ID
professional taxation advice or contact the ATO for more
has been verified, we may periodically access the ATO
help with any super tax questions you may have.
system (SuperMatch) on your behalf to inform you about
Tax is paid on contributions, investment earnings and on your superannuation interests, assist you to manage your
withdrawal of benefits. superannuation interests as reported to the ATO and
reunite you with lost super or monies held on your behalf
7.1 Tax File Numbers
by the ATO.
Under the Superannuation Industry (Supervision) Act 1993,
The ATO will use your TFN as the primary identifier in
Hostplus is authorised to collect, use and disclose your tax
matching your lost super or multiple accounts.
file number.
You can provide your TFN, identification and SuperMatch
Hostplus may disclose your tax file number to another
consent to Hostplus at hostplus.com.au.
superannuation provider, when your benefits are being
transferred, unless you request Hostplus in writing
7.2 Claiming your No TFN contributions tax
that your tax file number not be disclosed to any other
You may claim the additional tax paid on No TFN
superannuation provider.
contributions (the additional 30% plus Medicare) if you
Declining to quote your tax file number to Hostplus is not quote your TFN to Hostplus within three years from the
an offence. However giving your tax file number to your end of the financial year that the additional tax for the
superannuation fund will have the following advantages: No TFN contributions were payable.
· Hostplus will be able to accept all permitted types of If you quote your TFN to Hostplus:
contributions to your account/s;
· before 30 June, the additional tax will be credited to
· other than the tax that may ordinarily apply, you will your account as at 30 June that year
not pay more tax than you need to - this affects
· after 30 June, the additional tax will be credited as at
both contributions to your superannuation and
30 June the following year.
benefit payments when you start drawing down your
superannuation benefits; and
Example
· it will make it much easier to find different
superannuation accounts in your name so that you Sam did not provide his TFN to the trustee before
receive all your superannuation benefits when you retire. 30 June 2024. The trustee deducted the additional
No TFN tax (30% plus Medicare levy instead of 15%)
Generally there are significant consequences if your TFN
out of Sam’s account at 30 June 2024. On 20 July
is not quoted or incorrectly quoted when contributions are
2024, Sam quotes his TFN to the trustee. The
made for you, such as:
trustee will credit the additional tax deducted on
· an additional tax of 30% (plus Medicare) is imposed on 30 June 2024 to Sam’s account on 30 June 2025.
‘No TFN’ contributions paid into the fund on your behalf,
in addition to 15% tax on employer contributions,
· we cannot accept your personal contributions, and
· Government co-contributions are not payable.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
79
7.3 Taxation of contributions 7.3.5 Excess non-concessional contributions
If you exceed your non-concessional contributions cap
7.3.1 Concessional contributions
you may be liable for additional tax at the top marginal
Concessional contributions are taxed at 15%.
tax rate (plus Medicare levy) on the excess contributions.
The ATO will let you know if you have exceeded the non-
7.3.2 Excess concessional contributions
concessional cap.
If you exceed your concessional contributions cap in the
relevant financial year, this excess amount will be included If you don’t withdraw your excess contributions, any
in your assessable income and taxed at the marginal associated earnings will be taxed at the top marginal
tax rate. tax rate.
You are entitled to a tax offset of 15% paid on the You can choose how your excess non-concessional
excess concessional contributions for that income year. contributions are taxed by completing the ATO Excess
If you receive an Excess Concessional Contributions non-concessional contributions election form available
determination for a financial year, you may elect to release from the ATO website. Please note once you make your
from your super account up to 85% of your excess choice you can’t change it. Hostplus will receive instruction
concessional contributions. Once you’ve made your from the ATO to make a payment. The amount released
election, Hostplus will receive instruction from the ATO will be used by the ATO to pay any income tax liability you
to pay an amount to them. If you choose not to release have and offset any outstanding tax before the remainder
the excess concessional contributions, the amount will is paid to you.
count towards your non-concessional contributions cap
For more information about paying excess non-
and you may have to pay the additional tax from your
concessional contributions tax, please visit the
personal savings.
ATO website and search excess non-concessional
contribution tax or excess non-concessional contributions
7.3.3 Division 293 tax
release authority.
If your total income and concessional contributions are
more than $250,000, you will pay an additional tax of 7.4 Taxation of investment returns
15% (i.e. 30% tax) on those concessional contributions
Investment returns are taxed up to a maximum rate of
exceeding the $250,000 threshold. If the ATO determines
15%. Where the assets are invested in Australian and
you must pay the additional tax, Hostplus will receive
international shares, the tax payable can be partly offset
instruction from the ATO to make the payment to them.
by imputation credits for franked dividends and foreign tax
The definition of ‘income’ for the purpose of paying credits. Any capital gains are limited to two thirds of the
Division 293 tax includes taxable income, reportable gain or the whole of the gain with an indexed cost base,
fringe benefits, total net investment losses, target foreign depending on the date that the assets were acquired.
income, tax free government pensions and benefits and
7.5 Taxation of benefits on withdrawal
concessional contributions up to the cap. This does not
apply to excess contributions that have been subject to Tax may be payable when you withdraw a lump sum or
excess contributions tax. income stream benefits from Hostplus before you receive
the payment. The amount of tax will depend on whether
7.3.4 Non-concessional contributions you receive the payment before age 60, the amount of
Non-concessional contributions are not taxed your benefit, the benefit components and the nature of
within superannuation when you contribute up to the benefit payment.
the non-concessional cap, and provided that your
Lump sum benefits comprise two components.
total superannuation balance does not exceed
$1.9 million. Hostplus will need to have your TFN to 1. The tax free component which includes:
accept non-concessional contributions from you. · the contributions segment.
· the crystallised segment.
The contributions segment generally includes all
contributions made from 1 July 2007 that have not been
included in the assessable income of the fund. Typically
these would be a member’s personal contributions that
are not claimed as an income tax deduction.
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80
The crystallised segment includes the following existing
Age Tax treatment of
components of a super interest that were consolidated lump sum benefits
into the tax-free component on 1 July 2007: (excluding Medicare levy)
for the year 1 July 2024 –
· the concessional component.
30 June 2025
· the post-June 1994 invalidity component. Member Below age 60 20% on whole amount
benefit taxable
· undeducted contributions. component – 60+ Tax free
taxed element
· the capital gains tax (CGT) exempt component.
(where 15 %
· the pre-July 1983 component. contributions
tax has been
The crystallised segment was calculated by assuming paid)
that an eligible termination payment representing the
Below age 60 30% for amounts up to the
full value of the superannuation interest is paid just untaxed plan cap amount
before 1 July 2007. Member of $1.7801 million
benefit taxable
45% for amounts over the
2. The taxable component which includes: component
untaxed plan cap amount
· an element taxed in the fund, and/or – untaxed of $1.7801 million
element
· an element untaxed in the fund. (where 15 % 60+ 15% for amounts up to the
contributions untaxed plan cap amount
The tax that Hostplus deducts will only apply to the tax has not of $1.7801 million
element taxed in the fund (for example the 15% tax paid been paid) 45% for amounts over the
on contributions and investment returns). Any other tax untaxed plan cap amount
payable will be assessed in your tax return following the $1.7801 million
payment of the benefit. Rolled over Any age Nil
super benefit
7.6 The taxable components of lump with a taxable
component and
sum benefits
taxed element
Tax on lump sum benefits
Rolled over Any age Nil for amount up to the
No tax is payable on the tax free component. Tax on super benefit untaxed plan cap amount
taxable components are as per table opposite: with a taxable of $1.7801 million
component 45% for amounts over the
and untaxed untaxed plan cap amount
element of $1.7801 million
Super lump Any age Nil
sum benefits of
less than $200
1. This is the untaxed plan cap amount applicable to the 2024-25
income year. The untaxed plan cap is indexed annually in line with
AWOTE but only increases in increments of $5,000 (rounded down).
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
81
7.7 Part payment of benefits 7.9 Total and Permanent Disablement benefits
When a part payment of super is made, you won’t be able Total and Permanent Disablement benefits are taxed
to indicate whether you want the benefit taken from your as a lump sum benefit, with the taxable and tax-free
tax free component or your taxable component. Instead, components. Generally, the tax free component will
the benefit will generally include both components in the include the proportion of the benefit that relates to the
same proportion as they exist in the total benefit. period from the date of total and permanent disablement
to age 65.
The table below provides an illustration where a member’s
benefit consists of a taxable component as to 60%and a If you choose to reinvest any of your Total and Permanent
tax free component as to 40%. Disablement benefit payment into Hostplus and after
2 years request a subsequent withdrawal, you may be
Component
required to provide us further medical certificates from
Taxable Tax free Total
two legally qualified medical practitioners. This is to certify
Total benefit $60,000 $40,000 $100,000 that due to ill health you continue to be unlikely to ever
proportion 60% 40% 100%
be gainfully employed in a capacity for which you are
Part $12,000 $8,000 $20,000 reasonably qualified, to remain eligible for an additional
payment 60% 40% 100%
tax-free threshold .
of $20,000
proportion
7.10 Income Protection
Balance after $48,000 $32,000 $80,000
(Salary Continuance) benefits
payment 60% 40% 100%
proportion Income Protection benefits are generally taxed at your
marginal tax rate.
7.8 Death benefits
7.11 Terminal Illness benefits
Death benefits are tax free when paid to tax dependants.
If a member suffers from a terminal illness as:
A dependant for these purposes is a spouse, a child
less than 18, a person with whom the deceased had an a. certified by two medical practitioners (one being a
interdependency relationship on the date of death, or specialist) and
any other person who was a financial dependant of the
b. stipulating death within 24 months of the certification,
deceased on the date of death.
any benefits that have accrued up to that point become
The definition of spouse includes same sex couples and
unrestricted non-preserved benefits. Any additional
the definition of child includes eligible children of same
benefits you accrue during the 24 month certification
sex couples. This means that same sex couples and their
period also become unrestricted non-preserved benefits.
children are able to access the same tax concessions on
These can be accessed as a tax-free lump sum payment if
lump sum death benefits available to married and de facto
you withdraw it within 24 months of certification.
opposite sex couples. In addition a spouse is recognised
when the relationship is registered on the Register of In the event that you survive the certification period,
Births and Marriages under State or Territory law. you may be able to access any remaining balances,
subsequent to that period. However such amounts may
If the lump sum death benefit is paid to a non-tax
not be tax-free.
dependant, the taxable component with a taxed element
will be taxed at 15% (plus Medicare levy) but part of the Any benefits that accrue after the certification period are
benefit may be taxed at up to 30% (plus Medicare levy) if it not covered by the original 'terminal medical condition'
has a taxable component with an untaxed element. The tax condition of release. You should call us about what new
free component will be tax free if paid to a non-dependant. certification may be required.
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82
7.12 Temporary resident tax on benefits
Any super benefits paid to eligible former residents
is subject to the Departing Australia Superannuation
Payment (DASP) withholding tax upon leaving Australia
permanently. The DASP withholding tax will apply at the
date of payment.
Any super benefits paid to working holiday makers in
Australia under the 417 (working holiday) or 462 (work and
holiday) sub-class visa, upon leaving Australia permanently,
is subject to:
· 0% for the tax-free component,
· 65% for a taxed element of a taxable component, and
· 65% for an untaxed element of a taxable component.
Former temporary residents who have never held a
working holiday or work and holiday visa will be taxed at:
· 0% for the tax-free component,
· 35% for a taxed element of a taxable component, and
· 45% for an untaxed element of a taxable component.
The information in this Section contains general advice only and does
not take into account your personal objectives, financial situation or
needs. You should consider if this information is appropriate for you
in light of your circumstances before acting on it. You may also find
it beneficial to obtain advice from a licensed financial adviser. Past
performance is not a reliable indicator of future performance. For
a description of the target market, please read the Target Market
Determination (TMD), available at hostplus.com.au/ddo
While every care has been taken to ensure that the information in this
document is correct, Hostplus reserves the right to correct any error
or misprint in respect of the information shown. Any updated PDSs will
be available on our website at hostplus.com.au.
Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as
trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657
495 890, MySuper No. 68657495890198.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
Section 8.
Insurance in
your super
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84
Section 8. Insurance
The duty to take reasonable care not to make
in your super a misrepresentation
The Trustee has a contract of insurance with
MetLife to provide the insurance benefits for
members of Hostplus. On becoming a member,
Hostplus insurance cover is provided through group life you are bound by the terms and conditions of this
policies for death and Total and Permanent Disablement contract of insurance.
(TPD) and income protection (the ‘policies’), issued by MetLife
Insurance Limited ABN 75 004 274 882 AFSL 238096 (‘MetLife’
Care must be taken to answer all questions the
or the ‘Insurer’) to the trustee of Hostplus (the ‘Trustee’, ‘we’,
Insurer asks as part of your insurance application
‘us’ or ‘our’).
honestly and accurately. Providing dishonest or
Insurance cover provided to Hostplus members is subject inaccurate information can result in any future
to the terms and conditions of the policies, which are claim you make being denied, meaning you may
summarised in this Section. not be able to rely on your insurance when you
need it most.
Where information is summarised other than in the policies
themselves, it does not represent a complete description of
the terms on which insurance cover is provided. The policies
represent the concluded agreements between the Insurer
When you apply for life insurance, the Insurer will ask you
and the Trustee and in the event of an inconsistency with this
a number of questions to enable the Insurer to consider
PDS, the terms of the policies prevail.
your insurability. MetLife’s questions will be clear and
In conjunction with an application for insurance cover or specific. They will be about things such as your health and
additional cover, Hostplus members may be contacted medical history, occupation, income, lifestyle, pastimes,
directly by the Insurer on behalf of Hostplus to discuss or and other insurance.
gather information relating to their application.
The answers given in response to the Insurer’s questions
For a copy of the relevant insurance policies call 1300 467 875. are very important as the Insurer uses them to decide if
the Insurer can provide cover to you and, if the Insurer can,
To make a claim, contact us for the appropriate claim forms
as soon as reasonably possible to avoid any prejudice against the terms of the cover and the premium to be charged.
your claim.
The duty to take reasonable care
When applying for insurance, there is a duty to take
Effective from 1 October 2024, all former Statewide reasonable care not to make a misrepresentation. A
Super members that held Death or Total and misrepresentation could be made if an answer is given
Permanent Disablement or Income Protection that is false, only partially true, or that does not fairly
insurance under the Statewide Super policy terms reflect the truth. This means when answering the
and conditions immediately prior to 1 October 2024 Insurer’s questions, you should respond fully, honestly
were transferred to the Hostplus insurance policy and accurately.
terms and conditions.
The duty to take reasonable care not to make a
misrepresentation applies any time you answer the
Protecting against the unexpected Insurer’s questions as part of an initial application for
insurance, an application to extend or make changes to
Super is the asset you can start building today to enjoy in
existing insurance, or an application to reinstate insurance.
the future. Right now, however, two of your most valuable
assets are your health and your income earning potential. You are responsible for all answers given, even if someone
At Hostplus, we offer eligible members automatic life assists you with your application.
insurance with an option to increase their cover upon
MetLife may later investigate the answers given in your
joining. We also offer income protection cover. So you
application, including at the time of a claim.
can enjoy peace of mind – at affordable prices.
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85
Consequences of not complying with the duty Other important information
If there is a failure to comply with the duty to take Your application for cover will be treated as if you are
reasonable care not to make a misrepresentation, it can applying for an individual ‘consumer insurance contract’.
have serious consequences for your insurance, such as For this reason, the duty to take reasonable care not to
those explained below: make a misrepresentation applies.
Before your cover starts, the Insurer may ask about any
Potential Additional Impact on claims
consequences explanation changes that mean you would now answer their questions
differently. As any changes might require further
Your cover This means your Any claim that has
being avoided cover will be treated been made will assessment or investigation, it could save time if you let
as if it never existed not be payable the Insurer know about any changes when they happen.
The amount of Your cover level If a claim has been If after the cover starts, you think you may not have met
your cover being could be reduced made, a lower your duty, please contact us immediately and we’ll let you
changed benefit may be
know whether it has any impact on your cover.
payable
It’s important that you understand this information and
The terms of We could, for If a claim has
your cover being example, add an been made for an the questions we ask, so if you have any queries please
changed exclusion to your event that is now contact us on 1300 467 875.
cover meaning excluded, it will
claims for certain not be payable Insurance policy definitions
events will not be
Some words in this Member Guide have specific meanings
payable
within the context of the policies. Some of these may
appear to be everyday words, such as 'inactive'. We have
If the Insurer believes there has been a breach of the duty
distinguished these words, where you’ll need to check
to take reasonable care not to make a misrepresentation,
their definitions, by using capitalised terms, for example
the Insurer will let you know its reasons and the
'Disablement'. Please see the definitions of these words in
information it relied on and give you an opportunity to
Sections 8.8 and 8.20 of this Member Guide.
provide an explanation.
In determining if there has been a breach of the duty, the 8.1 The cover we provide
Insurer will consider all relevant circumstances. We offer Death and Total & Permanent Disablement (TPD),
TPD only, Death only and income protection insurance
The rights the Insurer has if there has been a failure to
options. Any Death cover also includes Terminal Illness cover.
comply with the duty will depend on factors such as what
If you elect to have TPD only cover, you will not be covered for
the Insurer would have done had a misrepresentation not
Death or Terminal Illness, but you may apply for Death cover
been made during your application process and whether
at any time.
or not the misrepresentation was fraudulently made.
If the Insurer decides to take action on your cover, the 8.1.1 What’s Death and TPD insurance?
Insurer will advise you of its decision and the process to
Death and TPD insurance cover provides you with an
have this reviewed or make a complaint if you disagree with
insured benefit, payable to either:
the decision.
· you, if you are determined as having a Total and
Guidance for answering our questions Permanent Disablement, or
When answering MetLife’s questions, please: · to your dependants or legal personal representative(s)
in the event of your death.
· Think carefully about each question before you answer.
If you are unsure of the meaning of any question, please This is additional to your super account balance.
ask MetLife before you respond.
8.1.2 What’s a death benefit?
· Answer every question that MetLife ask you.
In the unfortunate event of your death, a death benefit
· Do not assume that MetLife will contact your doctor for
provides a lump sum payout to your dependants (for
any medical information.
example, your children or partner) or your legal personal
· Answer truthfully, accurately and completely. If you are representative (executor or administrator of your estate). It is
unsure about whether you should include information, designed to provide your dependants with financial support.
please include it or check with us.
Under legislation, in the event of your death, your
· Review your application carefully. If someone else
Death benefit is only payable to your dependants or
helped prepare your application (for example, your
legal personal representative(s). Your benefit is paid in
adviser), please check every answer (and make
addition to your Hostplus account balance. For more
corrections if needed) before the application
information and to find out who you can nominate to
is submitted.
receive your benefit if you die, see Section 2.9 Death
benefit nominations.
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86
8.1.3 What's a Terminal Illness benefit? Hostplus insurance premium adjustment mechanism
If you are insured for Death cover, you will also be covered On 1 July 2017, the Trustee entered into an arrangement
for a Terminal Illness benefit. with MetLife that included a premium adjustment
mechanism (PAM) in respect of the Death and Total
A Terminal Illness benefit is payable if you suffer a Terminal
& Permanent Disablement insurance and the income
Illness, as defined in Section 8.8 Definitions.
protection insurance provided by MetLife.
8.1.4 What's a Total & Permanent
This agreement reduces the Insurer’s risk exposure due to
Disablement (TPD) benefit? claims volatility and allows the Trustee to negotiate lower
A TPD benefit provides a lump sum payout to you if you overall premiums for members.
become totally and permanently disabled. It is designed
Any premium adjustment payment made to us is allocated
to replace your future earning capacity via a lump sum
to a separate insurance reserve for this arrangement and
payment and provide you and your dependants with the
is governed by our reserving policy. Our reserving policy
financial support you need.
requires that any premium adjustment payments we receive
If you apply for a TPD benefit, your assessment will depend from the Insurer are only passed on to members when
upon your age and employment status on your Date of we negotiate our premiums. We will report details of any
Disablement along with other factors. distributions of the PAM proceeds in our annual reports.
The definition of TPD in Section 8.8 Definitions explains 8.1.7 War conditions
how members are assessed for TPD in different scenarios.
In the event of any invasion or outbreak of War which
If the amount of a TPD benefit paid to you is less than your involves Australia, the Insurer may vary Death, TPD and
current Death cover, your Death cover (including Terminal Income Protection premium rates.
Illness cover) will be reduced by the amount of the TPD
No Death, TPD or Income Protection benefit is payable
benefit paid to you, and you will continue to be insured for
if the event giving rise to the claim is caused directly or
the balance of the Death (and Terminal Illness) cover.
indirectly by War (as defined in Section 8.8 Definitions).
8.1.5 What's an income protection benefit?
8.1.8 Going overseas?
An income protection benefit provides regular (monthly)
If you travel or reside overseas, you are covered for claims,
payments if you can’t work because of Illness or Injury. It is
provided your insurance premiums continue to be paid
designed to replace your predisability salary for a period of
from your account and you have sufficient funds in your
time until you can return to work.
super account to pay the premiums. In the event of a
Total and Permanent Disablement, a Terminal Illness or an
8.1.6 Paying for the insurance
income protection claim, you may be required to return to
The cost of the insurance you have is deducted from your
Australia at your own expense to be assessed for a benefit.
Hostplus account. Your insurance premiums are used to
cover the cost of your insurance, government charges 8.1.9 Employer Approved Leave?
and may include an administration fee. Please note
If you take employer approved leave, you are covered for
that 0.745% of the Death and TPD insurance premiums
claims provided your insurance premiums continue to be
are retained by the Trustee and goes towards the
paid from your account.
administration cost of providing insurance.
To protect your superannuation account, insurance 8.1.10 Duplicate accounts
cover will be cancelled if your account becomes Inactive, You are only eligible to retain Hostplus insurance in one
regardless of the account balance. This is to ensure that account. Where you have multiple Hostplus accounts, you will
arrangements for insurance in super are appropriate and retain cover in the account with the highest level of insurance
members are not paying for insurance that they do not and the account with lower insured amount will be closed. Any
know about or premiums that inappropriately erode their overpaid premiums will be refunded to you. Your insurance
retirement savings. cover will automatically be transferred once your accounts have
been merged unless you tell us otherwise. You must inform us
A member’s account is considered Inactive if we have not
immediately if you have more than one account with Hostplus.
received a Contribution into that account for a continuous
period of 16 months ending on or after 1 July 2019 and Please note that if you are an existing member and have
where the member has not made a written request or a duplicate account or have joined another division of
positive election to always maintain all their cover even Hostplus you are not entitled to the special insurance offer
where the account becomes Inactive and the member is set out in Section 8.2.2 Special insurance offer on joining for
not an Exempt Person. The Trustee will write to affected new members.
members to notify them of their options to maintain
their insurance cover, should they wish to do so.
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8.1.11 Making an insurance claim?
Age at Automatic age-based cover
your next
If you or your beneficiaries need to lodge an insurance
birthday Death TPD
claim with Hostplus, please call us on 1300 467 875.
We have a dedicated claims team who will assist you 48 $70,679 $70,679
every step of the way with your claims enquiry and
49 $62,867 $62,867
documentation required – at no cost to you – so there is
50 $57,752 $57,752
no need for you to engage a third party person to do this
on your behalf. 51 $50,912 $50,912
52 $46,992 $46,992
8.1.12 Gender
53 $43,080 $43,080
If your gender identity (as either male or female) differs
from your sex at birth, or the gender that is otherwise 54 $35,248 $35,248
recorded for the purposes of calculating premiums in 55 $39,160 $39,160
respect of your insurance cover under the Hostplus policy,
56 $34,870 $34,870
you may elect to have your premiums instead calculated
57 $29,890 $29,890
by reference to your current gender identity by providing
notice in writing to us or the Insurer, with satisfactory 58 $24,910 $24,910
evidence confirming the change of gender. Such a change
59 $22,420 $22,420
in gender for the purposes of the Hostplus policy will
60 $19,930 $19,930
only take effect from the date we receive, or the Insurer
receives, the written election. 61 $14,192 $14,192
62 $13,384 $13,384
8.2 The details – Automatic Age-based Death
63 $12,168 $12,168
and TPD insurance cover (default cover)
64 $11,352 $11,352
Generally, members joining Hostplus can receive
automatic age-based Death and TPD insurance cover 65 to 70 $10,136 $10,136
(also referred to as ‘default’ cover) based on the automatic
age-based Death & TPD cover table below. The amount of
To be eligible for automatic age-based insurance cover,
cover you receive is determined by, and will vary based on,
you must:
your age next birthday.
· be an Eligible Person,
Table 1: Automatic age-based cover
· not already have insurance cover with Hostplus,
Age at Automatic age-based cover
· not have previously held automatic age-based
your next
birthday Death TPD insurance cover on the same account with
Hostplus, and
12 to 16 $28,273 $0
· not be Inactive.
17 to 19 $28,273 $56,546
Your automatic age-based insurance cover commences
20 to 25 $56,546 $113,092
on the Cover Commencement Date or when you first
26 to 30 $113,092 $169,638
meet the following criteria as required under the Putting
31 to 35 $141,365 $169,638 Members’ Interests First Laws:
36 $169,638 $169,638 · You are aged at least 25 years (where applicable*), and
37 to 38 $171,870 $143,225
· Your account with Hostplus has a balance of at least
39 $172,986 $144,155 $6,000 on or after 1 November 2019.
40 $174,102 $145,085 *If you joined Hostplus on or after 1 April 2020, the minimum eligibility
age for automatic age-based insurance cover is 25 years, unless you
41 $134,810 $134,810 Opt-in to have this cover at a younger age.
42 $121,145 $121,145 You can also Opt-in to have automatic age-based
43 $106,190 $106,190 insurance cover for the first time prior to meeting the
above criteria (subject to terms, conditions and eligibility
44 $93,670 $93,670
requirements). If you Opt-in, your automatic age-
45 $93,378 $93,378 based insurance cover will commence from the Cover
46 $82,086 $82,086 Commencement Date.
47 $70,986 $70,986
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Your rate of premium in respect of any automatic age- For Full Cover, you also cannot be a Claiming Member
based insurance cover is based on your age, applicable (see Section 8.8 Definitions). If you are a Claiming Member,
Occupational Rating, gender, type of cover and the dollar your automatic age-based insurance cover will be Restricted
value of your cover. Cover. You will only be able to remove the restriction by
making an application to the Insurer, which is subject to
If you are joining Hostplus through an employer who was
their assessment of your medical history and health. If your
previously a default employer of Club Super you may also
application is accepted, Restricted Cover will be replaced with
automatically receive income protection insurance. Further
Full Cover from the date your application is accepted.
information, including the terms and conditions of this
cover are disclosed in Section 8.21 of this Member Guide. Please see Section 8.3.2 If your cover starts again
(Death and TPD) for more information.
You may opt out or vary your insurance at any time by
contacting us.
8.2.2 Special insurance offer – Death and TPD
8.2.1 Restricted Cover – Death and Total If you’re a new insured member under age 65 and have
obtained automatic Death and TPD insurance cover,
& Permanent Disablement (TPD)
are not employed in an occupation that is classified as
If you are an Employer Sponsored Member or Personal
either the Special Risk Occupational Rating or an Ineligible
Super Plan Member and you do not meet the requirements
Occupation, and are not a Claiming Member, you have
for Full Cover, your automatic age-based insurance cover
a once off opportunity to increase your Death and TPD
may be Restricted Cover which will not cover Pre-existing
insurance cover up to certain limits. To take up the special
Conditions for at least 24 consecutive months from the
insurance offer, you must apply within 60 days from the
Cover Commencement Date. A Pre-existing Condition
Cover Commencement Date.
refers to any Illness, Injury, condition or related symptom
which you or any reasonable person in your position were, or Under the special insurance offer, you can increase your
was, aware of or should have been aware of, or had, or was automatic Death and TPD cover by a multiple of 2x, 3x
intending to have, or would have had a medical consultation or 4x the automatic age-based cover.
for, in the 2 years prior to your cover commencing or
You can also apply for Income Protection insurance under the
recommencing (see Section 8.8 Definitions).
special insurance insurance offer. Refer to Section 8.11.3 for
For Full Cover from the Cover Commencement Date, terms relating to the Income Protection special insurance offer.
you must satisfy all the following requirements:
Acceptance will remain subject to your application being
· we must receive an employer contribution into your approved by the Insurer. We will notify you of the outcome
account or you must commence employment with an of your application.
employer, within 120 consecutive days immediately prior
Death and TPD cover provided under the special
to the Cover Commencement Date,
insurance offer will commence from the date the
· you must be in Active Employment for the application is accepted and will be subject to the same
first 30 consecutive days from the Cover requirements for Full Cover that apply to your automatic
Commencement Date, insurance cover as outlined in Section 8.2.1, i.e.:
· within 6 months immediately prior to the Cover · if you satisfy all of the requirements for Full Cover for
Commencement Date you: your automatic age-based Death and TPD cover, your
special insurance offer Death and TPD cover will be
– have not been diagnosed with or experiencing
Full Cover from the same date,
symptoms of, are not seeking medical opinion for
or under investigation and have not been advised · if you do not satisfy all of the requirements for Full Cover
to undergo investigations for, a Degenerative for your automatic age-based Death and TPD cover,
Condition, and your special insurance offer Death and TPD cover will also
be Restricted Cover until such time as your automatic
– have not been absent from work or been on
age-based Death and TPD cover is replaced by Full Cover.
restricted duties or hours for more than 7
consecutive working days due to Illness or Injury. Important note: Members aged 65 or over, those that fail
to apply within the prescribed time frame and those that
If you do not meet the above requirements for Full Cover,
are not eligible for or have cancelled automatic age-based
the automatic age-based insurance cover you receive will
cover, are not eligible for the special insurance offer.
be Restricted Cover. Your Restricted Cover will be replaced
with Full Cover after 24 months provided you are Actively You can apply for the special insurance offer via Member
Employed for the last 30 consecutive days of the 24 month Online at hostplus.com.au.
period. If you are not Actively Employed for the entire
See Section 8.2.7 When does Death and Total &
30 day period, Restricted Cover will continue until you
Permanent Disablement insurance cover start?
have been Actively Employed for 30 consecutive days.
for important information.
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89
8.2.3 Understanding age-based, unitised 8.2.4 Unitised insurance cover
& fixed benefit insurance cover To allow you to tailor your Death and TPD cover further
As mentioned in Section 8.2, the automatic age-based you can also select a number of units based on the value
Death and TPD insurance cover you receive is based on of units in the table below. The value of each unit changes
your age. This cover will change in line with your age as depending on your age and generally decreases as your
shown in Table 1. age increases. Unitised cover means you will not be
paying for high levels of insurance cover as you get close
If you apply for more cover or want to reduce the amount
to retirement.
of your automatic age-based cover, you will come off the
automatic insurance scale and you have a choice to have Table 2: One unit of Death and TPD cover
either unitised cover or, if you are not employed in an
Ineligible Occupation, fixed cover.
Age next birthday Death (1 unit) TPD (1 unit)
If you have increased your Death and TPD cover through
12 to 36 $28,273 $28,273
the special insurance offer, your cover will continue
37 to 38 $28,645 $28,645
to change as you age, based on your chosen multiple
times the automatic age-based cover amount shown 39 $28,831 $28,831
in Table 1.
40 $29,017 $29,017
41 $26,962 $26,962
42 $24,229 $24,229
43 $21,238 $21,238
44 $18,734 $18,734
45 $15,563 $15,563
46 $13,681 $13,681
47 $11,831 $11,831
48 $10,097 $10,097
49 $8,981 $8,981
50 $7,219 $7,219
51 $6,364 $6,364
52 $5,874 $5,874
53 $5,385 $5,385
54 $4,406 $4,406
55 $3,916 $3,916
56 $3,487 $3,487
57 $2,989 $2,989
58 $2,491 $2,491
59 $2,242 $2,242
60 $1,993 $1,993
61 $1,774 $1,774
62 $1,673 $1,673
63 $1,521 $1,521
64 $1,419 $1,419
65 to 70 $1,267 $1,267
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8.2.5 Fixed insurance cover 8.2.7 When does Death and Total & Permanent
Disablement insurance cover start?
With fixed insurance cover, your insured benefit value stays
the same. However, from age 61 your TPD benefit will For Eligible Persons, your automatic age-based insurance
reduce each year by 20% of the cover held at age 60, and cover commences on the Cover Commencement Date
from age 64 will remain fixed at 20% (of your cover held at as defined in Section 8.8 Definitions, provided there are
age 60) until you turn 70 when your cover ends. The cost of sufficient funds in your account to pay for premiums.
your fixed insurance cover will vary depending on your age
Applications to increase cover: If you have applied
which means you may pay higher fees as you get older.
to increase your insurance cover via an application,
The below example highlights how your insurance your increased cover will commence on the date your
cover is reduced: application is accepted by the Insurer and you have
sufficient funds to pay the required insurance premiums.
Your age TPD benefit Example, $100,000 sum Acceptance is subject to underwriting. We will advise you
insured Fixed benefit cover
in writing of the outcome of your application.
60 100% $100,000
8.2.8 How much Death and TPD cover
61 80% $80,000
can I apply for?
62 60% $60,000
You can apply for unlimited Death cover which includes
63 40% $40,000
Terminal Illness cover. Underwriting conditions may apply.
64 20% $20,000
You can apply for up to a maximum of $5 million in
65 20% $20,000
TPD cover.
66 20% $20,000
Underwriting conditions may apply.
67 20% $20,000
68 20% $20,000 8.2.9 Calculating how much insurance
cover you need and cost of cover
69 20% $20,000
To calculate the type and level of insurance cover you need
70 0 0
click here to use our online insurance calculator.
The premium rates that apply to Fixed Death and TPD
8.2.10 Interim accident cover
cover can be found in Table 4: Annual premium rates for
Death and TPD insurance cover. While the Insurer is assessing your application for
Death and TPD insurance cover, or an increase in your
To be eligible for fixed cover you must:
existing Death and TPD cover, or to amend your Death
· not be classified as being in an Ineligible Occupation, and and TPD insurance cover, you are provided with interim
· be an Eligible Person. accident cover. If you die or suffer Total and Permanent
Disablement as a result of an Accidental Injury during
8.2.6 Switching between age-based cover the period in which the interim accident cover applies,
or unitised cover and fixed cover the interim benefit will be at the same level as the cover
applied for, up to the maximum benefit level limit as below:
You can switch from age-based cover or unitised cover
to fixed cover or from fixed to unitised cover at any time,
Death $2,500,000
provided you meet the eligibility requirements. If you do
Total & Permanent Disability (TPD) $2,500,000
this, your level of cover and premiums may change.
Where an application is successful, you will have your Interim accident cover commences when we receive your
age-based cover converted to an equivalent amount application and will continue until the earlier of:
of fixed cover, rounded up to the next $1,000.
· the date the Insurer accepts or rejects your application,
Your fixed TPD cover will reduce from age 61 in accordance
· 90 days after the date the Insurer receives your fully
with Section 8.2.5 Fixed insurance cover. This means
completed application, where any extension to the 90
that if you are already aged 61 or above when converting
day period is provided at the Insurer’s discretion,
to fixed cover, your fixed TPD cover will be reduced
immediately once the application is approved. · the date that you withdraw your application, or
You can also convert from fixed cover to unitised cover by · the date your cover otherwise ends as set out under
clicking here. Where an application is successful, you will Section 8.3.1 When your Death and TPD insurance
have your fixed cover converted to an equivalent amount cover ends.
of units, rounded down to the next whole unit.
You cannot have a combination of age-based cover,
unitised cover and fixed cover.
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Accidental Injury means injury caused by a fortuitous, 8.3.1 When your Death and TPD insurance
external event that occurs by chance. Whether the cover ends
injury was caused by an unintended and unexpected
Your Death and TPD insurance cover will cease, without
characteristic or consequence of an intended act (such as
the need for us to notify you, on the earliest of the
the application of unintentionally excessive force, or the
following events:
creation of unintended or excessive force, or the creation
of unintended excessive pressure or strain) is irrelevant in · the date you cease to be a member of Hostplus,
determining whether or not injury has occurred as a result
· the date you reach age 70 for Death and TPD cover,
of a fortuitous, external event that occurs by chance.
· the date we receive your written request to terminate
No benefit will be payable under interim accident cover for
or cancel your insurance (or where the request specifies
Death or Total and Permanent Disablement:
a later date, the later date specified),
· arising out of, or contributed to in any way by, any
· in the event of your death,
Pre-existing Condition, disease, injury, gradual
· the date you are paid a benefit which is equal to the
physical or mental deformity, or infirmity known to
amount of your Death benefit,
the insured member when their interim accident
cover commenced, or · the end of the month in which your account balance has
insufficient funds to pay the premium,
· arising in circumstances where the insured member
deliberately assumed the risk or courted disaster, · by opting out of your insurance cover online via
irrespective of whether he or she intended or Member Online at hostplus.com.au ,
contemplated the results of his or her actions.
· the date the insurance policy is cancelled or terminated,
8.3 How to cancel your insurance cover
· the date your account becomes Inactive, or
You can apply to increase, decrease or cancel your
· your account is transferred to the Australian Tax Office.
insurance at any time by logging into Member Online
at hostplus.com.au.
If you prefer not to have insurance cover, you can elect
to cancel your cover upon joining, or cancel it at any time
online or by writing to us at the address below. You can also
cancel your insurance by calling us on 1300 467 875.
HOSTPLUS
Locked Bag 5046
Parramatta NSW 2124
Premium deductions will be stopped from the date your
request is received. If you cancel within 60 days of the
cover first commencing or recommencing, any premiums
we have already deducted from your account in relation
to this new insurance arrangement will be refunded. No
insurance benefits will be payable to you if you cancel
within the 60 days. If you cancel after the 60 days, the
cancellation will only be effective from the last day that the
current premium payment has been made to and there will
be no refund of premium that are paid or payable prior to
that date.
If you cancel your insurance cover and subsequently decide
that you would like to re-apply for insurance cover down the
track, you can do so by completing a new online insurance
application online by clicking here. Any application for
insurance made at this time will be subject to approval by the
Insurer and may require underwriting. We cannot reinstate
your original cover once you have decided to cancel it.
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8.3.2 If your cover starts again (Death and TPD)
Recommencement of cover – Insufficient account balance, inactive accounts and low balance members
If you were transferred to Hostplus as a result of the Intrust Super or Statewide Super successor fund transfer, please be
aware that any Death or TPD cover you may be eligible for will recommence on the below terms and in accordance with the
Hostplus policy.
If your cover has ceased, it may in certain circumstances (explained in the table below) start again from the
Recommencement Date provided you are an Eligible Person on the Recommencement Date and have been a member of
Hostplus at all times since the Cover End Date and provided there are sufficient funds in your account to pay for premiums.
The recommencement of cover may change the level of insurance you previously held and /or your Occupational Rating, so
this may affect your premium.
When cover recommences When recommenced cover is Full Cover or Restricted Cover
If your cover ceases because your account has been Inactive Recommenced cover will be Restricted Cover from the
and within the next 30 days after the Cover End Date, we Recommencement Date until you are Actively Employed
receive an election from you to maintain your cover even if for 30 consecutive days after the Recommencement Date, at
your account is Inactive, your cover will recommence from the which time the Restricted Cover will be replaced with Full Cover.
Recommencement Date at the automatic age-based cover
level if you are aged at least 25, your account has a balance of at
least $6,000 on or after 1 November 2019 and you are not an
Exempt Person. You will be deemed to belong to the ‘Unknown’
Occupational Rating until your Occupational Rating is varied.
If your cover ceased on or after 31 March 2020 as a result of Recommenced cover will be Restricted Cover from the
being a Low Balance Member and you were not an Exempt Recommencement Date until the Insurer accepts your
Person on the Cover End Date and more than 30 days after the application to remove the restriction by satisfying the Insurer’s
Cover End Date, we receive a request from you to recommence underwriting requirements, at which time the Restricted Cover
your cover with an election from you to be covered under will be replaced with Full Cover.
the Hostplus policy (even where your account has not had a
balance of $6,000 on or after 1 November 2019), your cover
will recommence from the Recommencement Date at the
automatic age-based cover level subject to the following
conditions:
· you are an Eligible Person under 70 years of age, and
· you have remained a member at all times since the
Cover End Date.
You will be deemed to belong to the ‘Unknown’ Occupational
Rating until your Occupational Rating is varied.
If your cover ceased on the Cover End Date as a result of Recommenced cover will be Restricted Cover until the date the
insufficient funds in your account or because your account Insurer accepts your application to remove the restriction by
became Inactive prior to 1 April 2020 and subsequently, on satisfying the Insurer’s underwriting requirements, at which time
a date on or after 1 April 2020, we receive a Contribution for Full Cover will replace your Restricted Cover.
you after the Cover End Date and, if your account has not an
account balance of at least $6,000 on or after 1 November
2019, we also receive an election from you to be covered under
the Hostplus policy, your cover will recommence from the
Recommencement Date at the automatic age-based cover
level. The cover will only recommence if you are an Eligible
Person and have remained a member at all times since the
Cover End Date. You will belong to the ‘Unknown’ Occupational
Rating until your Occupational Rating is varied.
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93
When cover recommences When recommenced cover is Full Cover or Restricted Cover
If your cover ceases on or after 1 April 2020 as a result of Recommenced cover will be Full Cover if you satisfy all of the
insufficient funds in your account or because your account following requirements:
is Inactive and we receive a Contribution for you after the
1. we receive an employer contribution into your account or
Cover End Date, your cover will recommence from the
you commence employment with an employer within 120
Recommencement Date at the automatic age-based cover
consecutive days immediately prior to the Recommencement
level. The cover will only recommence if you are an Eligible
Date,
Person and have remained a member at all times since the
Cover End Date. You will belong to the ‘Unknown’ Occupational 2. you are in Active Employment for the first 30 consecutive
Rating until your Occupational Rating is varied. days from the Recommencement Date, and
OR 3. within the 6 months immediately prior to the
Recommencement Date, you:
If your cover ceases on the Cover End Date because you were
a Low Balance Member on or after 31 March 2020 and not an · have not been diagnosed with or experiencing symptoms of,
Exempt Person in respect of the PMIF Laws, and more than are not seeking medical opinion for, are not under investigation
30 days after the Cover End Date, we receive a Contribution and have not been advised to undergo investigations for, a
for you which causes your account balance to reach $6,000, Degenerative Condition, and
your cover will recommence from the Recommencement Date
· have not been absent from work or been on restricted duties or
at the automatic age-based cover level. The cover will only
hours for more than 7 consecutive working days due to injury or
recommence if you are an Eligible Person and have remained a
illness, and
member at all times since the Cover End Date. You will belong
to the ‘Unknown’ Occupational Rating until your Occupational 4. you are not a Claiming Member.
Rating is varied. If you do not satisfy requirements 1-3 above, the automatic
age-based cover that recommences will be Restricted Cover.
Restricted Cover will be replaced with Full Cover following the
expiry of 24 consecutive months from the Recommencement
Date subject to you being Actively Employed for the last
30 consecutive days of that 24 consecutive month period. If you
are not Actively Employed for the entire 30 consecutive days,
your automatic age-based cover will be Restricted Cover until
you have been Actively Employed for 30 consecutive days at
which time Full Cover will replace your Restricted Cover.
If you do not satisfy requirement 4 above, the automatic age-
based cover that recommences will be Restricted Cover until
the date the Insurer accepts your application to remove the
restriction by satisfying the Insurer’s underwriting requirements
at which time Full Cover will replace your Restricted Cover.
If the recommenced cover has been provided as New Events Cover or Restricted Cover, the Insurer may, upon
application by the member, accept them for Full Cover at the Insurer’s absolute discretion and on such terms and
conditions as the Insurer requires.
8.4 Understanding Occupational Ratings
Some members will be eligible to pay a lower premium based on their occupation and associated Occupational Rating set by
the Insurer.
The following table sets out a description of Occupational Ratings. If you require assistance determining your Occupational
Rating you can contact Hostplus.
Please note: Depending on your occupation and the type of cover you select, you may be assessed based on different
Occupational Ratings.
If you do not provide your occupation details and you are electing to take up fixed cover, the ‘Special Risk’ Occupational
Rating factor will apply.
A person will maintain their Occupational Rating until such time as the person is later accepted for an increase to their cover.
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Occupational Rating
Occupational Rating Applicable to… Description
Professional Age-based cover, · You are Employed for at least 15 hours per week on an ongoing basis, and
Unitised cover or · your occupation requires that you spend no more than 10% of your working time
Fixed cover
outside an office or similar environment, and you are Employed in an occupation
that is recognised as: management, clerical, marketing, administration,
accounting, or other similar low risk occupations (including law and medicine)
as agreed by the Insurer, and
· you have an annual salary of at least $150,000 (including superannuation)
per annum, and
· you either hold a senior management role within your organisation or you hold a
tertiary qualification.
White Collar Age-based cover, · You are Employed for at least 15 hours per week on an ongoing basis, and
Unitised cover or · your occupation requires that you spend no more than 10% of your working time
Fixed cover
outside an office or similar environment, and you are Employed in an occupation
that is recognised as: management, clerical, marketing, administration,
accounting, or other similar low risk occupations (including law and medicine)
as agreed by the Insurer.
Unknown Age-based cover The default Occupational Rating that applies when you are first provided with
or Unitised cover automatic age-based insurance cover, or recommenced cover, where your
Occupational Rating is not known.
Light Blue Age-based cover, You do not meet the criteria for either a Professional or a White Collar member and
Unitised cover or you are not Employed in an occupation that is classified as Special Risk, Heavy Blue
Fixed cover or an occupation that is otherwise not eligible for insurance cover above automatic
age-based cover under the Hostplus policy. You will be classified as Light Blue if you are
unemployed or retired.
Heavy Blue Age-based cover, You are a manual worker or a qualified tradesperson working in a higher risk occupation
Unitised cover or such as bricklayer, farmer, interstate bus driver, warehouse worker, carpet layer, labourer
Fixed cover and removalist, provided the Insurer determines that your occupation does not expose
you to high-risk accidents or health hazards.
Special Risk Age-based cover, You are employed in an occupation that requires working in hazardous locations or
Unitised cover or working duties, such as long distance driving, working at heights or with hazardous
Fixed cover substances, working with high voltage power or underground, at sea, underwater or in
an aircraft, or occupations where the work is seasonal or unpredictable.
The Special Risk classification will be used where you work in an occupation that is not
classified as any of the other Occupational Rating definitions, as part of an application
for cover.
Ineligible Occupation Age-based cover You are an employee of the Australian Defence Force, Federal or State police forces,
an armed security guard, professional sportsperson, coach or trainer of professional
sportspeople (except coaches who spend more than 90% of their time in an office or
similar environment).
People in this category are only entitled to automatic age-based Death and TPD cover
under the terms of the Policy.
To change your Occupational Rating you can apply online at hostplus.com.au by clicking here. Your Occupational Rating
will also be determined when you apply to change your cover.
8.5 Changing your level of cover after you have joined
You can change your level of cover and tailor it to suit your needs, at any time during your membership by applying online.
You can take advantage of the following options to increase your cover.
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8.5.1 Transferring your insurance cover To obtain the additional cover under this feature, you must
into Hostplus apply within 60 days of the following events occurring, or
60 days of the annual insurance communication provided
If you have insurance cover through another
the following events occurred in the 12 months preceding
superannuation fund or otherwise for Death only, TPD
the date of the annual insurance communication:
only or Death and TPD cover you may be able to transfer
up to $2,000,000 of Death only, TPD only or Death and · getting married,
TPD insurance cover into Hostplus, provided that:
· the birth or adoption of a child/children,
· you are not in an Ineligible Occupation,
· taking on a mortgage or increasing your existing
· the cover you want to transfer is of a similar nature to mortgage (principle place of residence),
the cover provided under the Hostplus policy,
· death of a spouse,
· you are an Eligible Person,
· a Nominated Event as agreed by the Insurer.
· the cover you want to transfer is still in force as at the
You will need to provide proof that the event has occurred.
date the request to transfer is received by Hostplus or
If you have Death only cover, the increase will be for Death
has been active within the 30 days immediately prior to
only cover. If you have TPD only cover, the increase will be
the date the request to transfer (including the rollover
for TPD only cover. If you have Death and TPD cover, the
request) is received by the Fund,
increase will apply to both types of cover. You can take up
· any loadings, restrictions and exclusions which apply on one life event cover increase every 12 months and three
the cover you want to transfer will also apply once it is increases in total in the lifetime of your membership.
transferred to Hostplus, and
The same loadings, exclusions and limitations will apply to
· you cancel the cover you apply to transfer once the your life events cover that applied immediately before your
transfer to Hostplus has occurred – if you do not cancel life events application. Any additional life events cover will
your previous cover, in the event of a claim, any benefit be Restricted Cover, until you are Actively Employed for
payable to you will be reduced by the amount payable 30 consecutive days, at which time Full Cover will apply.
under the previous cover.
If you have been previously declined an application for
To apply to transfer your existing cover to Hostplus, please insurance by the Insurer you will not be eligible for the
apply online by clicking here. specific life events cover. You cannot be a Claiming
Member, employed in an occupation that is an Ineligible
Please note that any Death and/or TPD cover transferred
Occupation, and aged more than 70 years.
to Hostplus will be in addition to the same insurance cover
you hold under Hostplus (subject to a limit of $5m for You can apply online by clicking here.
TPD cover). If you have fixed TPD cover, from age 61 your
TPD benefit will reduce each year by 20% of the cover 8.6 Takeover Cover
held at age 60, and from age 64, will remain fixed at 20% Your Death and TPD cover which was in force under a Previous
of your cover held at age 60 until you turn 70 when your Policy on the day before 1 December 2013 will continue under
cover ends. the Hostplus policy from 1 December 2013 if on 1 December
2013 you are less than the Maximum Entry Age subject to
8.5.2 Specific life events cover – cover
certain conditions set out in the Hostplus policy.
that keeps up with you
8.7 When should I make a claim for a Death
To help ensure your Death and Total & Permanent
Disablement (TPD) cover keeps up with you whenever and Total and Permanent Disablement benefit
you take a big step forward – like buying a new home You should advise us of a claim as soon as reasonably
or starting a family, you have the opportunity to take possible. If you don’t notify us within a reasonable time, the
advantage of our life events cover. This feature allows Insurer may reduce or refuse to pay the insured benefit to
you to increase your cover by up to four units of cover the extent their assessment of your claim is prejudiced.
if you have either age-based cover or unitised cover, or
If you make a claim, the Insurer reserves the right to
if you have fixed cover, the lesser of $200,000 and 25%
investigate the claim including but not limited to the
of the cover held by you, up to an overall maximum cover
use of investigative agents, conducting surveillance and
of $1,000,000.
requesting information and medical examinations.
It is important to note that if you make a claim, you will only
be entitled to an insured benefit if you meet the eligible
criteria (see Section 8.8 Definitions) under the terms of
the policy. The insured benefit is determined as at the date
of the event occurring (e.g. for death event, date of death)
and the level of insurance cover at that time.
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8.8 Definitions OR
Total and Permanent Disablement (TPD): Part 3. Loss of limbs and/or sight
“Total and Permanent Disablement (TPD)” means: As a result of Illness or Injury, you suffer the total and
permanent loss of the use of:
For claims where the Date of Disablement is on or after
1 October 2024, Part 1, Part 2, Part 3, Part 4 or Part 5, a. two limbs (where ‘limb’ is defined as the whole hand or
as applicable: the whole foot), or
Part 1: Unlikely to work in a suited occupation b. the sight in both eyes, or
ever again
c. one limb and the sight in one eye, and
If you:
are disabled to such an extent, as a result of this
a. are aged less than 67 years as at the Date of impairment, that you are unlikely ever again to be
Disablement, and, employed or engaged in any gainful occupation, business,
profession or employment for which you are reasonably
b. are Employed or engaged in a gainful occupation,
suited by education, training or experience.
business, profession or Employment or within 16
months of the date you cease to be so Employed or OR
engaged, and
Part 4. Unable to do basic activities associated with
c. have suffered an Injury or Illness and, solely as a result work ever again
of that Injury or Illness are:
if you:
i. totally unable to be employed or engaged in that
a. solely as a result of Illness or Injury, have been unable to
occupation, business, profession or employment for
perform at least two Basic Work Activities for at least
a period of six consecutive months, and
12 consecutive months, and
ii. d etermined by the Insurer that at the end of that six
b. in the Insurer’s opinion, are unlikely to perform two
month period described in (c)(i), and up to the Date
Basic Work Activities for the rest of your life without the
of Assessment, to be permanently incapacitated
help of another person, and
to such an extent as to render you unlikely ever to
be employed or engaged in any gainful occupation, c. as at the assessment date* are unlikely ever again
business, profession or employment for which you are to be able to be employed or engaged in any gainful
reasonably suited by education, training or experience. occupation, business, profession or employment for
which you are reasonably suited by education, training
In forming a view under (c)(ii) of this Part 1, the Insurer
or experience.
will consider the following factors:
*Assessment date means the date the Insurer determines to accept,
a. any re-skilling or retraining undertaken up to the reject or defer your application for a TPD benefit.
Date of Assessment, and
OR
b. a ll relevant information up to the Date of Assessment.
Part 5. Permanent loss of intellectual capacity
NOTE: For the avoidance of doubt, the six month period
As a result of Illness or Injury, you suffer cognitive loss
referred to in (c)(i) of this Part 1 above does not apply to
and are disabled to such an extent, as a result of this
parts 2 to 5 below.
impairment, that you are unlikely ever again to be able
OR to be employed or engaged in any gainful occupation,
business, profession or employment for which you are
Part 2. Significant impairment to whole body
reasonably suited by education, training or experience.
You suffer an Injury or Illness and, as a result of that Injury
‘Cognitive loss’ means the Insurer has determined that
or Illness, you:
a total and permanent deterioration or loss of intellectual
a. suffer a permanent impairment of at least 25% of whole capacity has required you to be under continuous care
person function as defined in the latest edition of the and supervision by another adult person for at least
American Medical Association publication ‘Guides to the six consecutive months and, at the end of those six
Evaluation of Permanent Impairment’, or an equivalent consecutive months, you are likely to require permanent
guide to impairment approved by the Insurer, and ongoing continuous care and supervision by another
adult person.
b. are disabled to such an extent, as a result of this
impairment, that you are unlikely ever again to be able
to be employed or engaged in any gainful occupation,
business, profession or employment for which you are
reasonably suited by education, training or experience.
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Other Definitions 6. Communicating (verbal or written):
Active Employment or Actively Employed means the Comprehend and express oneself through verbal or
member is: written language with clarity, where the inability to speak
verbally or write with clarity must be due to dysfunction
a. actively performing or capable of performing all the
of the nervous system that is present on clinical
duties of all the occupations held by the member for at
examination, as certified by an appropriate medical
least 35 hours per week (even if not working 35 hours
specialist. Examples of dysfunction include dysarthria,
per week), free from any limitation due to Illness or
aphasia and dysphasia.
Injury, and
Claiming Member means a member who, on or before
b. not in receipt of, or entitled to claim, Income Support
the date their cover was to commence or recommence
Benefits from any source including but not limited
(as applicable) under the Hostplus policy:
to workers’ compensation benefits, statutory motor
accident benefits or disability income benefits a. has been diagnosed with a Terminal Illness by a medical
(including government Income Support Benefits of practitioner, or
any kind).
b. in relation to terminal illness or total and permanent
Basic Work Activities means any of the following: disablement cover provided under any Hostplus policy,
or any other policy with any other insurer, or by another
1. Mobility (walking or bending):
superannuation fund, life insurance policy or any
a. walk, with or without a walking aid*, more than 200m other source:
on a level surface without stopping, or
i. has had a claim admitted,
b. bend, kneel or squat to pick something up from the
ii. is eligible to receive a benefit,
floor from standing position and straighten up again.
iii. is in a waiting period for a benefit, and/or
*Such as a walking stick, crutches or walking frames.
iv. is in the process of claiming a benefit.
2. Vision (reading):
Club Super means Club Super (ABN 12 737 334 298).
Read, with visual aids, to the extent that an
ophthalmologist can certify that: Contribution means a contribution from any source or a
transfer or rollover of a superannuation benefit received
a. visual acuity is equal to, or better than, 6/48 in both
from, or on behalf of, a member.
eyes, or
b. constriction is within, or greater than, 20 degrees of Cover Commencement Date
fixation in the eye with the better vision. a. If you Opt-in to automatic age-based cover, the later
of the following:
3. Lifting:
i. the date we receive or the Insurer receives your
Using one or both hands to hold an object weighing at
Opt-in, and
least 5kg above their own waist height continuously for
60 seconds. ii. the date you become a member.
4. Manual dexterity: b. If you do not Opt-in to automatic age-based cover, the
date you first meet all the following criteria:
With at least one hand, without the use of aids:
i. you are aged at least 25 years (where applicable), and
a. type words using a computer keyboard; or
ii. your account has a balance of at least $6,000 on
b. pick up a small object such as a coin or pen.
or after 1 November 2019.
5. Hearing:
Cover End Date
Clearly hear with or without an aid, where the inability to
Where cover ends because:
hear clearly must be due to permanent hearing loss of
at least 90 dB in both ears, averaged over frequencies a. of insufficient funds in your account, the last calendar
of 500Hz, 1000Hz and 2000Hz, as certified by an day of the month in which your account balance has
appropriate medical specialist. insufficient funds to pay premiums,
b. your account becomes Inactive, the date your account
becomes Inactive, or
c. as at 31 March 2020 you are a Low Balance Member
(and not an Exempt Person), at 11:59pm on 31 March 2020.
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98
Date of Assessment means the date the Insurer makes Excluded Member means a member who:
a written determination with respect to your lodged claim
· has reached the maximum expiry age, being age 70 for
for a TPD benefit under the Hostplus policy.
Death and TPD cover,
Date of Disablement means the later of the date on
· has previously declined automatic age-based cover,
which a medical practitioner examines and certifies in
opted out of or cancelled all cover under the Hostplus
writing that you are disabled and you cease all work.
policy or a Previous Policy.
Degenerative Condition means any of the
Exempt Person means a member to whom we are
following conditions:
permitted, under the Superannuation Industry (Supervision)
· Parkinson’s disease Act 1993 (Cth), to provide cover under the Hostplus
policy because:
· dementia
i. the member has made a written request or positive
· arthritis including rheumatoid arthritis
election to be provided with cover under the Hostplus
· osteoporosis policy even where:
· motor neurone disease a. their account has not had a balance of at least
$6,000 on or after 1 November 2019, or
· multiple sclerosis
b. they are aged less than 25 years (where
· muscular dystrophy
applicable); or
Election means a written request or positive election
ii. the member has made an Election.
from the member to always maintain all their cover
provided under the Hostplus policy even if no Contribution For the avoidance of doubt, a member can be an Exempt
has been received from any source into the member’s Person in respect of the PMIF Laws but not an Exempt
account for a continuous period of 16 months. Person in respect of a period of Inactivity and vice versa.
To avoid doubt, a written request or positive election Full Cover
made after 8 May 2018 and before 1 April 2019 to be
Cover that is neither New Events Cover nor Restricted Cover.
provided with cover under the Hostplus policy will qualify
as a valid Election without having to specify for the Gainfully Employed/Gainful Employment
cover to be maintained even if no Contribution has been
Any occupation or work for gain or reward, or the
received from any source into the member’s account for
expectation of gain or reward, whether on a permanent or
a continuous period of 16 months.
temporary basis.
Eligible Person means a person who is:
Illness means sickness, disease or disorder.
a. a member of the Employer Sponsored Division or
Inactive or Inactivity means:
Personal Division of the Fund,
a. no Contribution has been received from any source
b. at least 11 years old and not older than 69 years of age
into your member account for a continuous period
for Death (including Terminal Illness) and TPD cover,
of 16 months ending on or after 1 July 2019;
c. an Australian resident or a lawful non-citizen, within the
b. we have not received an Election from you; and
meaning of the Migration Act 1958 (Cth) for whom your
employer is required to make employer contributions, c. we have not advised the Insurer that you are an
for cover other than automatic age-based cover, Exempt Person.
d. not an Excluded Member, and Income Support Benefits
e. not an insured member under Hostplus Executive. Monetary benefits which are paid or entitled to be paid
to replace a person’s loss of income or income earning
Employed or Employment means being engaged by
capacity as a result of Illness or Injury.
an employer under a contract of employment.
Employer Sponsored Member(s)
A member of the Employer Sponsored Division of
the Fund.
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99
Ineligible Occupation means employees of the Pre-existing Condition
Australian Defence Force, Federal or State police forces,
Any Injury or Illness, condition or related symptom which
armed security guards, professional sportspeople, and
you, or any reasonable person in your position:
coaches or trainers of professional sportspeople (except
coaches who spend more than 90% of their time in an · were, or was, aware of, or should have been aware of, or
office or similar environment), all of who are only entitled · had, or was intending to have, or would have had a
to automatic age-based Death and TPD cover under the medical consultation for
terms of the Hostplus policy.
in the two years prior to the date your cover commenced
Injury means bodily injury which is caused solely and or recommenced under the Hostplus policy or the
directly by external, violent and accidental means and is Previous Policy.
independent of any other cause.
Previous Policy means, as the context requires, a
Intrust Super means Babinda Institute Pty Ltd previously applicable Club Super policy, Intrust Super
(ABN 45 010 814 623) [formerly IS Industry Fund Pty Ltd], policy, Statewide Super policy or group “life policy” under
as trustee of the former superannuation fund known the Life Insurance Act 1995 (Cth) entered into between
as the Intrust Superannuation Fund. Hostplus and OnePath Life Limited (as it was then known).
Low Balance Member Putting Members’ Interests First Laws or PMIF Laws
refers to the Treasury Laws Amendment (Putting Members’
A member whose account has not had a balance of at
Interests First) Act 2019 and associated amendments to
least $6,000 at any time within the applicable time frames
the Superannuation Industry (Supervision) Act 1993.
set out in the table below:
Recommencement Date
Applies to Time frame
Where cover recommences due to the receipt of:
Members who joined Hostplus Between 1 November
prior to 1 November 2019 2019 and 31 March 2020
a. an election or request from a person to recommence
Members who joined Hostplus on Between the date they their cover, (including an Election), the date the person’s
or after 1 November 2019 but no became a Member and election or request is received by us or the Insurer,
later than 31 March 2020 31 March 2020
b. a Contribution for a person, the date the Contribution
Members who joined Hostplus on Since the date they
for the person is received by us unless (c) applies,
or after 1 April 2020 became a Member
c. a Contribution for a person and:
Member means either an Employer Sponsored Member
or a Personal Super Plan Member. i. where cover ceased due to the person’s account
being Inactive, the date the Contribution is received
New Events Cover means you are only covered for an
by us, and
Illness that first becomes apparent, or an Injury that first
occurs, on or after the date cover commenced. ii. in all other cases, the later of the following:
Occupation Class means any of the Occupational Ratings – the date the Contribution for the person is
set out and as defined in Section 8.10, one of which will received by us,
apply to you at any given time in accordance with the
– the date the person makes a written request or
terms of the Hostplus policy and is relevant to determining
positive election to be provided with cover under
your rate of premium for your insurance cover.
the Hostplus policy even where their account
Opt-in means an Eligible Person makes a written request or has not had a balance of at least $6,000 on or
positive election to be provided with automatic age-based after 1 November 2019 or they are aged less
cover for the first time under the Hostplus policy even where than 25 years (where applicable),
their account has not had a balance of at least $6,000 on or
– the date the person first meets all the
after 1 November 2019 or they are aged less than 25 years
following criteria:
(where applicable).
· is aged at least 25 years (where applicable), and
Personal Super Plan Member
· the member’s account has a balance of at
You are a member of the Personal Division of the Fund.
least $6,000 on or after 1 November 2019.
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100
Restricted Cover
You are not covered for a Pre-Existing Condition.
Special Offer Automatic Acceptance Level (AAL)
means up to four times the automatic age-based cover in
complete multiples as defined in Table 1.
Statewide Super refers to the former Statewide Super
fund, which merged with Hostplus in April 2022 through a
successor fund transfer.
Takeover Date means either:
a. for a Club Super transferring member, 1 November
2019, or
b. for an Intrust Super transferring member, 26 November
2021, or
c. for Statewide Super transferring member, 1 October 2024.
Terminal Illness means:
a. two medical practitioners, one of whom specialises in
your Illness, certify in writing that despite reasonable
medical treatment the Illness will lead to your death
within 24 months of the date of the certification, and
b. the Insurer is satisfied, on medical or other evidence
that despite reasonable medical treatment the Illness
will lead to your death within 24 months of the date of
the certification referred to in paragraph (a).
The Illness from which you suffer must occur, and the
date of the first and second certification referred to in
paragraph (a) must be made while you are covered under
the Hostplus policy and the policy must be current at the
time the claim is lodged.
TPD Waiting Period means six consecutive months
commencing on the Date of Disablement.
War includes an act of war (whether declared or not),
revolution, invasion, rebellion or civil unrest.
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101
8.9 Automatic age-based Death and TPD
Age at Automatic Weekly cost based on an
cover and weekly cost your Age-based cover Unknown or Light Blue
next Occupational Rating
The table below shows the amount of automatic age-based
birthday
cover you receive based on your age at your next birthday
and the weekly premium you will be charged based on your Death TPD Male Female Unisex
age at your next birthday, gender and an Occupational 46 $82,086 $82,086 $4.28 $3.22 $3.67
Rating of Unknown or Light Blue.
47 $70,986 $70,986 $4.22 $3.18 $3.71
Table 3: Level and weekly cost of automatic age-based 48 $70,679 $70,679 $4.79 $3.60 $4.29
death and TPD cover and weekly cost
49 $62,867 $62,867 $4.86 $3.65 $4.32
Age at Automatic Weekly cost based on an 50 $57,752 $57,752 $5.09 $3.83 $4.71
your Age-based cover Unknown or Light Blue
51 $50,912 $50,912 $5.03 $3.78 $4.66
next Occupational Rating
birthday 52 $46,992 $46,992 $5.20 $3.91 $4.82
Death TPD Male Female Unisex 53 $43,080 $43,080 $5.34 $4.01 $4.93
12 to 16 $28,273 0 $0.17 $0.13 $0.16 54 $35,248 $35,248 $4.89 $3.68 $4.54
17 $28,273 $56,546 $0.76 $0.57 $0.69 55 $39,160 $39,160 $6.08 $4.57 $5.63
18 $28,273 $56,546 $0.77 $0.58 $0.70 56 $34,870 $34,870 $6.07 $4.56 $5.64
19 $28,273 $56,546 $0.79 $0.59 $0.71 57 $29,890 $29,890 $5.82 $4.38 $5.47
20 $56,546 $113,092 $1.61 $1.21 $1.43 58 $24,910 $24,910 $5.44 $4.09 $5.10
21 $56,546 $113,092 $1.64 $1.23 $1.46 59 $22,420 $22,420 $5.48 $4.12 $5.14
22 $56,546 $113,092 $1.67 $1.26 $1.47 60 $19,930 $19,930 $5.46 $4.10 $5.12
23 $56,546 $113,092 $1.71 $1.28 $1.49 61 $14,192 $14,192 $4.27 $3.21 $4.01
24 $56,546 $113,092 $1.74 $1.31 $1.52 62 $13,384 $13,384 $4.43 $3.33 $4.16
25 $56,546 $113,092 $1.78 $1.33 $1.55 63 $12,168 $12,168 $4.39 $3.30 $4.12
26 $113,092 $169,638 $2.92 $2.20 $2.55 64 $11,352 $11,352 $4.43 $3.33 $4.15
27 $113,092 $169,638 $2.98 $2.24 $2.60 65 $10,136 $10,136 $4.27 $3.21 $4.00
28 $113,092 $169,638 $3.04 $2.29 $2.64 66 $10,136 $10,136 $4.61 $3.47 $4.32
29 $113,092 $169,638 $3.10 $2.33 $2.68 67 $10,136 $10,136 $4.84 $3.64 $4.54
30 $113,092 $169,638 $3.17 $2.38 $2.73 68 $10,136 $10,136 $5.08 $3.82 $4.72
31 $141,365 $169,638 $3.46 $2.60 $2.99 69 $10,136 $10,136 $5.34 $4.01 $4.91
32 $141,365 $169,638 $3.53 $2.65 $3.04 70 $10,136 $10,136 $5.60 $4.21 $4.96
33 $141,365 $169,638 $3.60 $2.71 $3.11
34 $141,365 $169,638 $3.67 $2.76 $3.12
35 $141,365 $169,638 $3.75 $2.82 $3.18
36 $169,638 $169,638 $4.07 $3.06 $3.46
37 $171,870 $143,225 $3.77 $2.83 $3.21
38 $171,870 $143,225 $3.85 $2.89 $3.24
39 $172,986 $144,155 $3.95 $2.97 $3.29
40 $174,102 $145,085 $4.06 $3.05 $3.33
41 $134,810 $134,810 $3.79 $2.85 $3.09
42 $121,145 $121,145 $3.74 $2.81 $3.08
43 $106,190 $106,190 $3.74 $2.81 $3.08
44 $93,670 $93,670 $3.76 $2.83 $3.09
45 $93,378 $93,378 $4.27 $3.21 $3.67
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8.10 Premium rates for Death only and TPD only insurance.
Applicable for age-based, unitised and fixed cover
The premium rates in Table 4 below show the annual cost of your Death or TPD insurance for every $1,000 of insurance
cover, using an Occupational Rating of Unknown or Light Blue.
How do I work out how much my Death and TPD insurance costs?
Your insurance premiums are calculated based on:
· the level of cover you have
· your age at your next birthday
· your type of cover (Death or TPD)
· your gender
· your Occupational Rating (see Table 5).
For example, if you have $50,000 of death and TPD insurance cover, multiply your applicable premium rate by x 50 and
then multiply that by your applicable Occupational Rating factor to work out how much your insurance will cost for
one year.
You can view your current insurance levels, premiums, and Occupational Rating in the Hostplus mobile app (in the
Insurance tab) or in Member Online. If you'd like to make any changes to your insurance, log into Member Online. You can
review and update your Occupational Rating to ensure it accurately reflects the work you do. Please note, the `Unknown'
Occupational Rating will apply to you until such time as you review it in Member Online.
Premium rates include stamp duty, government charges and an administration fee.
Table 4: Annual premium rates for Death and TPD insurance cover
Annual premium rates per $1,000 of insurance cover, based on an Occupational Rating of Unknown or Light Blue.
Age at your
next Death cover only TPD cover only
birthday
Male Female Unisex Male Female Unisex
12 to 16 $0.3140 $0.2361 $0.2866 $0.5263 $0.3957 $0.4794
17 $0.3203 $0.2409 $0.2925 $0.5370 $0.4037 $0.4890
18 $0.3266 $0.2456 $0.2953 $0.5476 $0.4118 $0.4940
19 $0.3330 $0.2504 $0.2996 $0.5583 $0.4197 $0.5011
20 $0.3393 $0.2551 $0.3024 $0.5688 $0.4277 $0.5057
21 $0.3466 $0.2605 $0.3088 $0.5805 $0.4366 $0.5160
22 $0.3538 $0.2660 $0.3106 $0.5922 $0.4453 $0.5187
23 $0.3611 $0.2714 $0.3169 $0.6039 $0.4541 $0.5289
24 $0.3682 $0.2769 $0.3217 $0.6157 $0.4628 $0.5365
25 $0.3755 $0.2823 $0.3279 $0.6284 $0.4725 $0.5476
26 $0.3828 $0.2877 $0.3344 $0.6412 $0.4821 $0.5587
27 $0.3900 $0.2933 $0.3406 $0.6539 $0.4917 $0.5698
28 $0.3982 $0.2993 $0.3460 $0.6667 $0.5012 $0.5780
29 $0.4063 $0.3055 $0.3513 $0.6805 $0.5116 $0.5871
30 $0.4144 $0.3116 $0.3584 $0.6944 $0.5221 $0.5990
31 $0.4225 $0.3178 $0.3653 $0.7082 $0.5325 $0.6109
32 $0.4307 $0.3238 $0.3725 $0.7220 $0.5428 $0.6228
33 $0.4398 $0.3307 $0.3802 $0.7369 $0.5540 $0.6356
34 $0.4488 $0.3374 $0.3821 $0.7517 $0.5652 $0.6386
35 $0.4579 $0.3443 $0.3899 $0.7666 $0.5764 $0.6513
36 $0.4669 $0.3511 $0.3976 $0.7815 $0.5876 $0.6638
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103
Annual premium rates per $1,000 of insurance cover, based on an Occupational Rating of Unknown or Light Blue.
Age at your
next Death cover only TPD cover only
birthday
Male Female Unisex Male Female Unisex
37 $0.4759 $0.3579 $0.4052 $0.7974 $0.5996 $0.6774
38 $0.4859 $0.3653 $0.4095 $0.8135 $0.6116 $0.6839
39 $0.4959 $0.3729 $0.4136 $0.8294 $0.6235 $0.6900
40 $0.5059 $0.3803 $0.4156 $0.8464 $0.6363 $0.6938
41 $0.5466 $0.4110 $0.4462 $0.9144 $0.6875 $0.7447
42 $0.6009 $0.4518 $0.4947 $1.0059 $0.7563 $0.8263
43 $0.6850 $0.5150 $0.5652 $1.1466 $0.8621 $0.9440
44 $0.7809 $0.5872 $0.6430 $1.3072 $0.9829 $1.0739
45 $0.8904 $0.6695 $0.7659 $1.4902 $1.1204 $1.2790
46 $1.0153 $0.7634 $0.8716 $1.6989 $1.2773 $1.4551
47 $1.1573 $0.8702 $1.0179 $1.9367 $1.4561 $1.6995
48 $1.3193 $0.9920 $1.1812 $2.2078 $1.6601 $1.9722
49 $1.5039 $1.1307 $1.3400 $2.5170 $1.8924 $2.2373
50 $1.7148 $1.2893 $1.5880 $2.8693 $2.1574 $2.6511
51 $1.9202 $1.4438 $1.7833 $3.2136 $2.4163 $2.9776
52 $2.1509 $1.6172 $1.9975 $3.5993 $2.7063 $3.3348
53 $2.4087 $1.8111 $2.2307 $4.0312 $3.0310 $3.7245
54 $2.6975 $2.0281 $2.5099 $4.5149 $3.3947 $4.1912
55 $3.0214 $2.2717 $2.8007 $5.0568 $3.8020 $4.6764
56 $3.3842 $2.5446 $3.1490 $5.6635 $4.2583 $5.2575
57 $3.7905 $2.8500 $3.5635 $6.3432 $4.7693 $5.9495
58 $4.2457 $3.1923 $3.9914 $7.1043 $5.3416 $6.6634
59 $4.7551 $3.5753 $4.4663 $7.9569 $5.9826 $7.4560
60 $5.3261 $4.0046 $5.0026 $8.9117 $6.7005 $8.3507
61 $5.8590 $4.4053 $5.5031 $9.8028 $7.3706 $9.1858
62 $6.4454 $4.8462 $6.0539 $10.7831 $8.1076 $10.1045
63 $7.0254 $5.2824 $6.5987 $11.7537 $8.8373 $11.0139
64 $7.5874 $5.7048 $7.1265 $12.6939 $9.5443 $11.8950
65 $8.1945 $6.1613 $7.6967 $13.7094 $10.3079 $12.8465
66 $8.8497 $6.6540 $8.3120 $14.8062 $11.1324 $13.8743
67 $9.2922 $6.9867 $8.7277 $15.5465 $11.6891 $14.5679
68 $9.7564 $7.3357 $9.0780 $16.3238 $12.2735 $15.1535
69 $10.2441 $7.7024 $9.4418 $17.1400 $12.8872 $15.7610
70 $10.7563 $8.0875 $9.5363 $17.9970 $13.5316 $15.9186
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Table 5: Occupational Ratings for Death and TPD 8.11 The Details – Income protection insurance
insurance cover
Income protection insurance helps to protect your
Applicable for age-based, unitised and fixed cover. income if you can’t work because of illness or injury, by
providing regular monthly payments to help you meet your
Occupational Rating Occupational Rating Factor living expenses.
applicable for
Death
Age-based, Unitised (including 8.11.1 Who’s eligible for income protection
& Fixed cover TPD cover
Terminal Illness) insurance with Hostplus?
cover
You are eligible for income protection insurance if you are:
Professional 0.54 0.40
· a member of the Employer Sponsored Division or the
White Collar 0.77 0.57
Personal Division of Hostplus,
Unknown or Light Blue 1.00 1.00
· at least 15 years old and under 65 years of age (70 years
Heavy Blue 1.31 1.94 for 2 years and 5 years Maximum Benefit Period),
Special Risk 2.00 2.86 · an Australian resident or a lawful non-citizen, within the
meaning of the Migration Act 1958 (Cth) for whom your
If you take up fixed cover and you do not provide your employer is required to make employer contributions,
occupational details you will automatically default to for cover other than cover provided under the special
the Special Risk Occupational Rating for Death and insurance offer.
TPD insurance cover, until such time as you review it
· not an Excluded Member, and
in Member Online.
· not an insured member under Hostplus Executive.
8.10.1 Apply for your insurance premiums
In addition, you must meet the following requirements
to be waived when you take parental leave
under the Putting Members’ Interests First Laws:
You can apply for your insurance premiums to be waived
· you must be aged at least 25 years (where
during employer approved parental leave, provided you
applicable), and
have been a member of Hostplus for at least 12 months
at the time you apply. This option is not available if you are · your account has had a balance of at least $6,000 on or
self employed. after 1 November 2019, and
To make an application, please arrange for your employer · your account is not Inactive, or
who approved your parental leave to complete the
· you are an Exempt Person.
Notification of Parental Leave form approved by us and
return to Hostplus before your leave commences. Excluded Members are ineligible for cover under the
Hostplus policy except where accepted by the Insurer at
If all the requirements are satisfied, your insurance
its absolute discretion. Acceptance remains subject to
premiums will be waived during any parental leave period
underwriting. We will notify you of the outcome of any
for the duration of your leave up to a maximum period
application made.
of up to 12 months’ leave. If you are already on parental
leave then please be aware that the premiums will only be
8.11.2 How much income protection cover
waived from the date Hostplus receives your completed
can I apply for?
form. The waiver cannot be backdated. The start and end
date of the waiver must be specified in the application. You can apply for cover of up to 90% of your monthly
The end date of the waiver must occur during the period Pre-Disability Income (where, in the event of a successful
of parental leave; and no more than 12 months after the claim, 75% of your Monthly Pre-Disability Income is paid
date the parental leave commenced. to you and 15% of your Monthly Pre-Disability Income is
paid into your account with Hostplus*), capped at $30,000
You will maintain your cover during the premium waiver
per month, with a waiting period of either 30, 60 or 90 days
period and you will be entitled to claim a benefit where
and you can choose to receive monthly benefits for either
you become disabled during the premium waiver period,
up to two years, five years or up to the age of 65.
although the waiting period will not commence until after
*The Contribution to your account is a concessional Contribution
the employer approved leave. You may still apply to change
and subject to the concessional Contributions cap. See 2.13.10
your cover during this period and the change will continue Contribution limits.
to be maintained after the expiry of the waiver period. The
You can apply for income protection cover via Member
waiver will apply to any additional cover that commences
Online at hostplus.com.au .
during the waiver period.
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105
8.11.3 Special insurance offer – income 8.11.5 Income protection interim
protection insurance accident cover
Eligible Members who have obtained automatic age- While the Insurer is assessing your application for income
based Death and TPD cover and are not employed in an protection insurance, or an increase in your existing
Ineligible Occupation, have a once off opportunity to elect income protection cover or to amend your income
for income protection insurance up to $5,000 per month protection insurance, you are provided with interim
for a benefit period of two years, and a waiting period of accident cover. In the event that you suffer Disability or
either 30, 60 or 90 days if they are aged less than 65 years. Partial Disability as a result of Accidental Injury during
the period in which the interim accident cover applies,
You can apply for the special offer via Member Online
the interim accident benefit will be for the same level as
at hostplus.com.au within 60 days of the Cover
the cover applied for or in the case of increasing your
Commencement Date.
cover, the difference between the level of increased cover
See 8.2.2 Special insurance offer. applied for and the level of current cover, up to a maximum
monthly benefit limit of $20,000 for the benefit period
selected in the application.
Important Note: If you are not Actively Employed
on the date we receive your application, your income The interim accident cover commences when we receive
protection insurance will be Restricted Cover until your application and will continue until the earlier of:
you are Actively Employed for 30 consecutive
· the date the Insurer accepts or rejects your application,
days at which time Full Cover will replace your
Restricted Cover. · you withdraw your application,
· 90 days from the date your fully completed application
See Section 8.11.6 Restricted Cover – Income Protection is received, or
for more information.
· the date your cover otherwise ends as set out under
Any restrictions that apply to your automatic Death the heading 8.17 When your income protection
and TPD cover will also apply to any income protection cover ends.
obtained under the special insurance offer and will
Accidental Injury means injury caused by a fortuitous,
continue to apply until it expires under the relevant terms.
external event that occurs by chance. Whether the
Where you are provided with cover under this section, injury was caused by an unintended and unexpected
your cover will commence on the date your application characteristic or consequence of an intended act (such as
is accepted. the application of unintentionally excessive force, or the
creation of unintended or excessive force, or the creation
8.11.4 When your income protection of unintended excessive pressure or strain) is irrelevant in
cover starts determining whether or not injury has occurred as a result
Your income protection insurance commences on the of a fortuitous, external event that occurs by chance.
date your application is accepted by the Insurer and your
No benefit will be payable under interim accident cover
insurance premium is paid. Acceptance is subject to any
where an injury:
underwriting requirements. We will advise you, in writing,
· arises out of, or is contributed to in any way by, any
of the outcome of your application.
Pre-existing Condition, disease, injury, gradual
physical or mental deformity, or infirmity known to the
insured member when their interim accident cover
commenced, or
· arises in circumstances where the insured member
deliberately assumed the risk or courted disaster,
irrespective of whether he or she intended or
contemplated the results of his or her actions.
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8.11.6 Restricted Cover – income protection 8.11.8 Income protection cover - how your
Restricted Cover means you are not covered for a benefit is calculated
Pre-Existing Condition. See Definitions section. 8.20. With income protection cover, you first decide how
much of your Pre-Disability Income you would like to
This Restricted Cover will generally be replaced with
insure. You can apply for up to a maximum of 90% of
Full Cover after you have been Actively Employed for
your Pre-Disability Income. If insured for that amount,
30 consecutive days.
in the event of a successful claim, 75% of your Monthly
8.11.7 Income protection insurance exclusions Pre-Disability Income is paid to you and 15% of your
Monthly Pre-Disability Income is paid into your Hostplus
No benefit will be payable if the Injury or Illness resulting in
account. You may, of course, choose to have income
Disability or Partial Disability is caused directly or indirectly
protection insurance that is less than 90% of your Pre-
by one of the following:
Disability Income.
· any intentional, self-inflicted injury, or any attempt to
commit suicide, Where your income protection benefit is up to 75% of
your Pre-Disability Income, we will pay that benefit to you
· normal and uncomplicated pregnancy, childbirth,
Where your income protection benefit is from 75% to
caesarean birth or assisted fertilisation techniques,
90% of your Pre-Disability Income, we will pay a maximum
· War (as defined in Section 8.20 Income Protection of 75% of your Pre-Disability Income to you and the
Cover definitions), or remainder is paid into your Hostplus account.
· service in the armed forces of any country or For the purposes of calculating your monthly benefit, all
organisation (whether voluntary or not), other than benefit amounts will be rounded up to the nearest $100,
service in the Australian Defence Force Reserves. i.e if 75% of your monthly salary is $5,649, your monthly
benefit will be rounded up to $5,700.
In addition to the above, no benefit will be paid if the
payment would contravene any provision of the Private Click here to calculate the level of insurance cover you need.
Heath Insurance Act 2007 (Cth), Health Insurance Act 1973
(Cth) or the National Health Act 1953 (Cth) or any other 8.11.9 Maximum monthly benefit payable
related Australian legislation. for income protection
No Partial Disability benefit will be payable where you cease The maximum monthly benefit that will be paid by the
to be employed for reasons other than Illness or Injury six Insurer in the event of a claim is the lower of:
months or more prior to the date you became Disabled.
· 90% of your Monthly Pre-Disability Income (of which a
The Insurer will only pay an income protection benefit to maximum of 75% is payable to you and the balance paid
you for one Disability or Partial Disability at a time. If, while as a contribution to your Hostplus super account).
an income protection benefit is payable for a particular
· $30,000 per month inclusive of the Superannuation
Illness or Injury, you suffer an unrelated Illness or Injury
Contribution Benefit.
which independently and concurrently renders you
Disabled or Partially Disabled: 8.11.10 Your choice of waiting periods and
· no separate income protection benefit will be payable benefit periods for income protection
for the later Illness or Injury while an income protection Hostplus offers three waiting periods: 30, 60 or 90 days.
benefit is payable for the first Illness or Injury, and A waiting period is the continuous period of days during
· if the subsequent Illness or Injury becomes the sole which you must be Disabled or Partially Disabled before
condition causing Disability or Partial Disability then any income protection benefit is payable. You must be
subject to the recurring disability conditions (refer Disabled or Partially Disabled for at least 7 out of the
Section 8.20) it may be treated as a continuation of the first 12 working days of the waiting period to qualify for
claim for the first Illness or Injury for the purposes of a benefit. You do not receive a monthly benefit for the
determining the end of the benefit period. waiting period.
The benefit period is the maximum period of time that
a benefit will be paid for any one Illness or Injury while
you are Disabled or Partially Disabled. You can choose a
benefit period of two years, five years or up to age 65.
Premiums vary depending on which waiting period or
benefit period you choose. Generally, the longer the
waiting period and the shorter the benefit period, the
lower the premium. See Section 8.19 Income protection
insurance annual premiums.
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107
You can choose to change your waiting period or Disability Monthly Benefit means the lesser of:
benefit period. If you want to reduce the waiting period
· the amount of cover accepted for you,
(e.g. from 90 days to 60 days) or increase the benefit
period (e.g. two years to ‘up to age 65'), you will need · 75% of your Monthly Pre-Disability Income,
to complete a new online insurance application.
· an applicable Automatic Acceptance Limit or otherwise
During the waiting period, you can return to work once, for any other amount agreed between the Insurer and
up to 10 consecutive days, without having to start a new us, and
waiting period. If this occurs, the number of days you have
· $30,000.
worked will be added to the waiting period.
The Partial Disability benefit begins to accrue from the
8.12 Income protection Disability benefit first day you are Partially Disabled after the waiting period
The Insurer will pay a Disability benefit if you are disabled has ended and accrues pro-rata on a daily basis.
after the end of the waiting period that is applicable to you
The Partial Disability benefit is payable in arrears and stops
and provided that the Insurer has admitted your claim. The
at the earliest of:
monthly benefit starts to accrue from the day after the
· you have been Disabled or Partially Disabled from
end of the waiting period.
the end of the waiting period for the Maximum
The monthly benefit is payable in arrears and stops at the
Benefit Period,
earlier of:
· the date you attain age 65 (70 years for 2 years and 5
· the end of the Maximum Benefit Period (2 years, years Maximum Benefit Period),
5 years or to age 65 as accepted by the Insurer),
· the date you cease to be Partially Disabled,
· the date you attain age 65 (70 years for 2 years and
· the date you are earning, or are capable of earning,
5 years Maximum Benefit Period),
monthly salary or wages equal to or greater than your
· the date of your death, Monthly Pre-Disability Income, or engaging in any
· the date you are no longer disabled, and occupation on a full-time basis (if working full-time prior
to disability) or part-time basis (if working part-time
· the date that you fail to comply with the Insurer’s
prior to disability) or casual basis (if working casually
request to return to Australia for ongoing assessment –
prior to disability),
See 8.14 – Travelling overseas?
· the date that you fail to comply with the Insurer’s
8.12.1 Income protection Partial request to return to Australia for ongoing assessment –
Disability benefit See 8.14 Travelling overseas?, and
The Insurer will pay a Partial Disability benefit if you are · the date of your death.
Partially Disabled (see 8.16.28 Income protection cover
definitions) after the waiting period had ended except 8.12.2 Ineligible Occupations
where you had ceased to be employed for reasons other If you work in an Ineligible Occupation, you are not entitled
than Illness or Injury six months or more prior to the date to Income Protection cover under the Hostplus policy.
they become Partially Disabled.
8.12.3 Death benefit while claiming
The Partial Disability benefit will be calculated as follows:
income protection
(A – B)
_______ x disability monthly benefit If you die while a Disability or Partial Disability benefit is
being paid, the Insurer will pay a one-off amount equal to
A
the Disability Monthly Benefit you were receiving at the
Where date of your death, for one month.
A is your Monthly Pre-disability Income (see 8.20
Pre-Disability Income definitions)
B means any income earned by you from personal
exertion while disabled or partially disabled when the
income is from your occupation, or any other occupation.
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108
8.12.4 Income protection recurrent disability 8.12.6 Superannuation Contribution Benefit
You will be entitled to a recurrent disability benefit if you: This is an optional benefit of up to 15% of the Monthly
Pre-Disability Income, which will be paid if you are disabled
· were paid a Disability benefit or a Partial Disability
after the waiting period has ended. If you are partially
benefit under this Hostplus policy or the Previous
disabled, the Insurer will pay an amount equal to the
Policy, and
Superannuation Partial Disability benefit.
· you returned to employment on the same basis as prior
The Superannuation Partial Disability benefit will be
to your disability (i.e. full time or part time) for a period
calculated as follows:
of less than 6 months from the last date you were
Disabled or Partially Disabled, and (A – B)
_______ x (15% of A)
· during this 6 month period you became Disabled or
A
Partially Disabled from the same or a related Illness
or Injury. Where
A new Waiting Period will not apply, provided you are not in A is your Monthly Pre-Disability Income
receipt of any benefit under the Previous Policy.
B means any income earned by you from personal
The payment of a recurrent disability benefit will be treated exertion while disabled or partially disabled when the
as a continuation of the original claim for benefits. This income is from your occupation, or any other occupation.
payment must not exceed the Maximum Benefit Period.
8.13 How do payments work?
8.12.5 Retraining Expense Benefit
Income protection benefits are payable monthly in arrears
Whilst you are in receipt of an income protection benefit, once your claim has been accepted. The Insurer will
the Insurer may pay all or some of the expenses incurred, increase the amount of the benefit payable when you have
to a maximum of 6 times the some of your Disability paid the benefit for a continuous period of 12 months.
Monthly Benefit and Superannuation Contribution The benefit will be adjusted annually at the anniversary of
Monthly Benefit, if: the end of the waiting period by the lesser of 5% or the
percentage increase in the CPI over the 12-month period
· you are Disabled or Partially Disabled;
concluding at the end of the last reported quarter.
· the Insurer approves the retraining expenses in writing
before the expenses are incurred; and 8.13.1 Reduction of benefits
Your income protection payments will be reduced
· the retraining expenses are incurred to:
byother income or payments (including any income or
· directly assist you to return to your occupation or
commutation amounts but not including benefits received
any gainful occupation; or
under the Hostplus policy) that you’ve received as a
· undertake a vocational retraining program result of disability, as set out below, where such amounts
combined with the benefit payable under the policy
Any payments will be made directly to the provider of the
would exceed 90% of your Monthly Pre-disability Income
service relating to the retraining expense as approved on
(75% of Monthly Pre-Disability Income plus up to 15%
a case-by-case basis.
superannuation contribution benefit):
The Insurer will reduce the amount of the retraining
· by way of workers’ compensation, similar legislation or
expense benefit paid directly to the provider of
any settlement under common law,
the retraining service by any amounts that can be
claimed from any other source or as they approve · under any statutory accident compensation scheme,
on a case-by-case basis.
· any amounts payable in respect of loss of income
(whether legislated, under common law or otherwise),
· paid sick leave, and
· benefits under any other disability, injury or sickness
insurance policy (except for lump sum benefits received
from total and permanent disablement under a policy).
Any income the Insurer believes you could reasonably
be expected to earn in your occupation whilst Disabled
or Partially Disabled, will also reduce your income
protection payments.
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109
Amounts received in respect of: 8.15 Cover during employer approved leave
· Social security payments from Centrelink, or If you take employer approved leave, you are covered for
claims provided your insurance premiums continue to be
· Department of Veteran’s Affairs (or other Government
paid from your account. If you become disabled or partially
benefits), or
disabled during a period of employer approved leave, the
· a lump sum payment, in respect of a total and
waiting period will not begin until the end date of your
permanent disablement claim,
employer approved leave. Where no end date is given,
will not reduce your income protection payments. the period of leave will be taken to be 24 months. Cover
will cease for any other reason as outlined in Section 8.17
Any lump sum payment (will be converted to an equivalent
When your income protection cover ends.
monthly amount by dividing the lump sum payment by
60 (i.e. the lump sum is paid out monthly over a period
8.16 Changing your income
of 60 months).
protection insurance
If your monthly benefit is reduced because you are in
8.16.1 Update your income protection
receipt of other income or payments, as set out above,
insurance online
or where you are entitled to a Partial Disability benefit, the
15% of your Pre-Disability Income which is paid into your To make it easy for you and to ensure you have adequate
Hostplus account, will also be reduced proportionally (by the insurance cover when your circumstances change, you
amount of any employer superannuation contributions can also apply to increase or take out other forms of
paid to your superannuation account and by the amount insurance cover online.
of any benefits payable under any other income protection/
salary continuance policy but only where the other policy 8.16.2 Calculating your income
is designed to replace the compulsory superannuation protection insurance
entitlements). To calculate the type and level of insurance cover you need
click here to use our online insurance calculator.
8.13.2 What happens if you are suffering from
more than one injury or illness? 8.16.3 Transfer your income protection
You can only claim one Disability benefit or Partial Disability insurance into Hostplus
benefit at a time for the Maximum Benefit Period. If, while
You have the opportunity to transfer any existing
you are receiving Disability or Partial Disability benefits for
income protection cover you have through another
a particular Illness or Injury, you suffer an unrelated Illness
superannuation fund or insurer into Hostplus provided
or Injury which independently and concurrently renders
you are not in an Ineligible Occupation and it is of a similar
you Disabled or Partially Disabled:
nature to the cover provided under Hostplus with limited
a. no separate benefit will be payable for the later Illness or screening questions. The total amount that a person may
Injury while benefits are being paid for the first Illness or transfer from all sources is the lesser of:
Injury, and · 90% of your Pre-Disability Income (of which a
maximum of 75% is payable to you and the balance paid
b. if the subsequent Illness or Injury becomes the sole
as a contribution to your Hostplus super account), or
condition causing Disability or Partial Disability it will be
treated as a continuation of the claim for the first Illness · $20,000 per month for a Maximum Benefit Period of
or Injury for the purposes of determining when the 2 years or 5 years, or
Maximum Benefit Period ends.
· $10,000 per month for a Maximum Benefit Period of to
age 65,
8.14 Travelling overseas?
Your income protection insurance continues while you provided that:
are travelling or residing overseas. The cover will cease · you are not in an Ineligible Occupation,
for any other reason as outlined in Section 8.17 When
· the cover you want to transfer is of a similar nature to
your income protection cover ends. If you are overseas
the cover provided via Hostplus,
for more than 6 months after you commence receipt
of income protection benefits, the Insurer reserves the · you satisfy the requirements of an Eligible Person,
right to require you to return to Australia at your own
· the cover you want to transfer is still in force with the
expense for continued assessment of your claim. If you
other provider as at the date the request to transfer is
fail to do so, the Insurer may, in its discretion, refuse to
received by the fund or has been active within 30 days
continue payments.
immediately prior to the date the request to transfer
(including rollover request) is received by the Fund),
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110
· any loadings, restrictions and exclusions which apply You must submit the application within 60 days of
to the cover you want to transfer will also apply to your either the event occurring or the date of the annual
cover transferred to Hostplus, and insurance communication (provided the event occurred
in the 12 months preceding the date of the annual
· you cancel the cover you apply to transfer with the
insurance communication).
previous Insurer once the transfer to Hostplus has
occurred. If you do not cancel your previous cover, You cannot be an Excluded Member or employed in an
in the event of a claim, any benefit payable to you Ineligible Occupation and must be aged less than 65
will be reduced by the amount payable under the (70 years for 2 years and 5 years Maximum Benefit Period).
previous cover.
You can only submit one application per calendar year
Transferred cover will replace any Income Protection cover and no more than 3 applications can be accepted during
that you already have at Hostplus. Any amount above these the term of the cover.
maximum transfer limits will be assessed by the Insurer.
Any increase in cover is limited to the lesser of $1,000 per
Generally, income protection insurance will be matched
month and 90% of the monthly Pre-Disability Income.
on the same waiting period and benefit period to that which
The same loadings, exclusions and limitations will apply to
was previously provided under the transferred cover (30
your life events cover that applied immediately before your
days if it was 30 days or less with the other fund, 60 days if
life events application. Any additional life events cover will
it was between 31 and 60 days inclusive with the other fund
be Restricted Cover, until you are Actively Employed for
and 90 days if it was equal to or greater than 61 days but less
30 consecutive days, at which time the Full Cover will apply.
than 90 days with the other fund). If the waiting period is not
available, the next longest waiting period will be provided.
8.17 When your income protection cover ends
Your transferred cover will replace any existing income
Your income protection insurance will cease from the
protection cover you have with Hostplus (as long as any
earliest date of any of the following:
monthly benefit does not exceed 90% of your salary).
· you cease to be a member of Hostplus,
If your existing income protection benefit period is either
to age 60 or to age 65, your Maximum Benefit Period · you reach age 65 (70 years for 2 years and 5 years
provided with Hostplus will be to age 65. Otherwise, an Maximum Benefit Period),
existing benefit period of 5 years or above, will be provided
· the Insurer receives your written request to cancel or
as a 5 year Maximum Benefit Period (where you’re aged
terminate your insurance and the Insurer agrees to
less than 63). Any other existing benefit period is provided
cancel or terminate the insurance (or where the request
as a Maximum Benefit Period of 2 years (unless agreed
specifies a later date, the later date specified),
otherwise by the Insurer).
· you permanently retire from the workforce,
You cannot transfer cover that is subject to a waiting
period that is greater than 90 days (unless agreed · in the event of your death,
otherwise by the Insurer). · the end of the month in which your account balance has
insufficient funds to pay the premium,
Conditions and other limitations apply. All applications
are subject to the approval of the Insurer and for your · the insurance policy is cancelled or terminated,
application to be considered you must provide proof of your
· your account becomes inactive, or
external cover and the terms upon which it was granted.
· your account is transferred to the Australian Tax Office
To transfer your existing income protection cover to
in accordance with Hostplus’ rules.
Hostplus, please apply online by clicking here
8.18 When should I make an income
8.16.4 Specific life events cover
protection claim?
You may apply to us to increase your Income Protection
You should advise us of a claim as soon as reasonably
cover without us assessing your insurability upon one of
possible. If you don’t notify us within a reasonable time,
the following events occurring:
the Insurer may reduce or refuse to pay the insured
· getting married, benefit to the extent their assessment of your claim
· the birth or adoption of a child/children, is prejudiced.
· taking on a mortgage or negotiating an increase to your If you make a claim, the Insurer reserves the right to
existing mortgage (principle place of residence), investigate the claim including but not limited to the
use of investigative agents, conducting surveillance and
· death of a spouse,
requesting information and medical examinations.
· a Nominated Event.
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111
It is important to note that if you make a claim, you will only be entitled to an insured benefit if you meet the eligibility
criteria under the terms of the Fund’s insurance policy. The insured benefit is determined as at the date of the Disability or
Partial Disability and based on the level of insurance cover at that time. In circumstances where you are in the process of
applying for additional cover but have not yet been accepted by the Insurer, you will only be entitled to the lesser amount
of cover applicable prior to the increase, in the event of a successful claim. See also interim accident cover in 8.11.5.
8.19 Income protection insurance annual premium tables
The premium rates in the following tables show the annual cost of your Income Protection insurance for every $100 of
monthly insurance cover, using an Occupational Rating of Unknown or Light Blue.
How do I work out how much my Income Protection insurance costs?
Your insurance premiums are calculated based on:
· your benefit period and waiting period
· your age at your next birthday
· your gender
· your Occupational Rating (see Table 9).
For example, if you have $5,000 of Income Protection insurance cover per month, multiply your applicable premium rate
by x 50 and then multiply that by your applicable Occupational Rating factor to work out how much your insurance will
cost for one year.
You can view your current insurance level, premiums, and Occupational Rating in the Hostplus mobile app (in the
Insurance tab) or in Member Online. If you'd like to make any changes to your insurance, log into Member Online. You can
review and update your Occupational Rating to ensure it accurately reflects the work you do.
Premium rates include stamp duty and government charges.
Table 6: Premium rates for Income Protection insurance with a 2-year benefit period
Benefit period 2 years
Waiting period 30 days 60 days 90 days
Age at your next
Male Female Unisex Male Female Unisex Male Female Unisex
birthday
16 $3.6687 $4.7361 $4.0984 $2.5322 $3.2571 $2.8243 $1.0463 $1.3331 $1.1624
17 $3.6687 $4.7361 $4.0984 $2.5177 $3.2380 $2.8081 $1.0463 $1.3331 $1.1624
18 $3.6687 $4.7361 $4.0984 $2.5036 $3.2197 $2.7924 $1.0463 $1.3331 $1.1624
19 $3.6687 $4.7361 $4.0984 $2.4893 $3.2012 $2.7762 $1.0463 $1.3331 $1.1624
20 $3.6687 $4.7361 $4.0984 $2.4753 $3.1828 $2.7602 $1.0463 $1.3331 $1.1624
21 $3.6687 $4.7288 $4.0956 $2.4608 $3.1597 $2.7426 $1.0463 $1.3315 $1.1618
22 $3.6687 $4.7233 $4.0937 $2.4467 $3.1330 $2.7237 $1.0463 $1.3233 $1.1588
23 $3.6687 $4.7170 $4.0912 $2.4324 $3.1217 $2.7105 $1.0463 $1.3375 $1.1639
24 $3.6687 $4.7284 $4.0954 $2.4184 $3.1074 $2.6960 $1.0463 $1.3361 $1.1635
25 $3.6687 $4.7051 $4.0868 $2.4043 $3.0778 $2.6760 $1.0463 $1.3346 $1.1630
26 $3.6687 $4.8082 $4.1250 $2.3898 $3.1823 $2.7056 $1.0463 $1.4386 $1.2014
27 $3.6987 $4.9610 $4.2006 $2.3717 $3.2760 $2.7285 $1.3656 $1.9984 $1.6126
28 $3.7573 $5.1385 $4.3040 $2.3738 $3.3476 $2.7565 $1.3509 $2.0238 $1.6126
29 $3.8535 $5.3859 $4.4568 $2.3967 $3.4610 $2.8132 $1.3474 $2.0744 $1.6290
30 $3.9755 $5.6337 $4.6265 $2.4377 $3.5713 $2.8802 $1.3583 $2.1233 $1.6542
31 $4.1303 $5.9485 $4.8420 $2.4996 $3.6933 $2.9650 $1.3841 $2.1504 $1.6808
32 $4.3111 $6.2889 $5.0837 $2.5771 $3.8350 $3.0671 $1.4211 $2.1991 $1.7222
33 $4.5177 $6.6927 $5.3653 $2.6716 $4.0284 $3.1987 $1.4727 $2.2976 $1.7917
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Table 6: Premiums rates for Income Protection insurance with a 2-year benefit period (cont'd).
Benefit period 2 years
Waiting period 30 days 60 days 90 days
Age at your next
Male Female Unisex Male Female Unisex Male Female Unisex
birthday
34 $4.7540 $7.1175 $5.6734 $2.7827 $4.2134 $3.3384 $1.5357 $2.3764 $1.8612
35 $5.0125 $7.5661 $6.0045 $2.9114 $4.4159 $3.4955 $1.6166 $2.4751 $1.9494
36 $5.3042 $8.0375 $6.3655 $3.0570 $4.6637 $3.6805 $1.7088 $2.6395 $2.0693
37 $5.6181 $8.5768 $6.7658 $3.2225 $4.9449 $3.8903 $1.8234 $2.8230 $2.2105
38 $5.9648 $9.1289 $7.1919 $3.4070 $5.2500 $4.1213 $1.9524 $3.0444 $2.3749
39 $6.3378 $9.7308 $7.6530 $3.6147 $5.5971 $4.3823 $2.1078 $3.3094 $2.5723
40 $6.7437 $10.3263 $8.1331 $3.8453 $5.9539 $4.6620 $2.2848 $3.5994 $2.7926
41 $7.1828 $10.9973 $8.6621 $4.1215 $6.4128 $5.0083 $2.4877 $3.9661 $3.0582
42 $7.6551 $11.6861 $9.2190 $4.4327 $6.8802 $5.3800 $2.7277 $4.3378 $3.3491
43 $8.1682 $12.4186 $9.8179 $4.7783 $7.4269 $5.8036 $3.0007 $4.8094 $3.6983
44 $8.7219 $13.1678 $10.4494 $5.1637 $7.9821 $6.2555 $3.3144 $5.2872 $4.0757
45 $9.3238 $13.9499 $11.1233 $5.5938 $8.6031 $6.7601 $3.6727 $5.8485 $4.5123
46 $9.9769 $14.8216 $11.8637 $6.0772 $9.3045 $7.3286 $4.0862 $6.4871 $5.0131
47 $10.6859 $15.6790 $12.6342 $6.6148 $10.0206 $7.9374 $4.5547 $7.1570 $5.5606
48 $11.4610 $16.6438 $13.4868 $7.2179 $10.8329 $8.6237 $5.0900 $7.9187 $6.1847
49 $12.3022 $17.6501 $14.3970 $7.8914 $11.6762 $9.3664 $5.6990 $8.7072 $6.8657
50 $13.2250 $18.7142 $15.3810 $8.6426 $12.5756 $10.1793 $6.3855 $9.5525 $7.6178
51 $14.2330 $19.8143 $16.4323 $9.4855 $13.5440 $11.0767 $7.1681 $10.4830 $8.4624
52 $15.3403 $21.0279 $17.5894 $10.4242 $14.5807 $12.0605 $8.0466 $11.4624 $9.3864
53 $16.5583 $22.3047 $18.8406 $11.4731 $15.6889 $13.1412 $9.0357 $12.5181 $10.4093
54 $17.8981 $23.7122 $20.2182 $12.6452 $16.8599 $14.3239 $10.1506 $13.6055 $11.5246
55 $19.3744 $25.1801 $21.7054 $13.9505 $18.0951 $15.6156 $11.3980 $14.7609 $12.7497
56 $21.0097 $26.8071 $23.3531 $15.4037 $19.4177 $17.0342 $12.7896 $15.9720 $14.0876
57 $22.8220 $28.5602 $25.1603 $17.0253 $20.7995 $18.5823 $14.3474 $17.2137 $15.5432
58 $24.8302 $30.4750 $27.1528 $18.8263 $22.2611 $20.2749 $16.0787 $18.5010 $17.1263
59 $27.0667 $32.5750 $29.3599 $20.8301 $23.7938 $22.1229 $18.0016 $19.8118 $18.8410
60 $29.5581 $34.8680 $31.8016 $23.0534 $25.4052 $24.1408 $20.1310 $21.1537 $20.6991
61 $32.3415 $37.3855 $34.5127 $25.5238 $27.0835 $26.3416 $22.4897 $22.4984 $22.7048
62 $35.4566 $40.1451 $37.5255 $28.2635 $28.8359 $28.7414 $25.0919 $23.8495 $24.8684
63 $38.9521 $43.2155 $40.8967 $31.3043 $30.8125 $31.4171 $27.9638 $25.3951 $27.2765
64 $43.6250 $48.4010 $45.8031 $35.0354 $34.4700 $35.1563 $31.3190 $28.4426 $30.5495
65 $48.8626 $54.2084 $51.3011 $39.2125 $38.5610 $39.3408 $35.0765 $31.8551 $34.2149
66 $54.7241 $60.7160 $57.4568 $43.9163 $43.1890 $44.0609 $39.2843 $35.6777 $38.3198
67 $61.2942 $68.0018 $64.3535 $49.1868 $48.3716 $49.3483 $43.9979 $39.9588 $42.9177
68 $68.6467 $76.1607 $72.0739 $55.0899 $54.1758 $55.2705 $49.2799 $44.7535 $48.0692
69 $55.6061 $61.6894 $58.3811 $44.6227 $43.8822 $44.7691 $39.9155 $36.2504 $38.9355
70 $18.3483 $20.3568 $19.2644 $14.7260 $14.4816 $14.7741 $13.1737 $11.9637 $12.8499
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Table 7: Premiums rates for Income Protection insurance with a 5-year benefit period
Benefit period 5 years
Waiting period 30 days 60 days 90 days
Age at your next
Male Female Unisex Male Female Unisex Male Female Unisex
birthday
16 $6.5066 $8.9212 $7.4613 $4.6208 $6.3981 $5.3220 $2.7344 $3.8747 $3.1821
17 $6.5066 $8.9212 $7.4613 $4.5971 $6.3666 $5.2949 $2.7344 $3.8747 $3.1821
18 $6.5066 $8.9212 $7.4613 $4.5734 $6.3349 $5.2685 $2.7344 $3.8747 $3.1821
19 $6.5066 $8.9212 $7.4613 $4.5497 $6.3034 $5.2416 $2.7344 $3.8747 $3.1821
20 $6.5066 $8.9212 $7.4613 $4.5263 $6.2719 $5.2147 $2.7344 $3.8747 $3.1821
21 $6.5066 $8.7784 $7.4086 $4.5028 $6.1734 $5.1635 $2.7344 $3.8747 $3.1821
22 $6.5066 $8.6751 $7.3704 $4.4791 $6.0950 $5.1192 $2.7344 $3.8747 $3.1821
23 $6.5066 $8.5575 $7.3267 $4.4558 $6.0110 $5.0732 $2.7344 $3.8747 $3.1821
24 $6.5066 $8.4586 $7.2902 $4.4321 $5.9373 $5.0310 $2.7344 $3.8747 $3.1821
25 $6.5066 $8.3305 $7.2429 $4.4083 $5.8521 $4.9841 $2.7344 $3.8747 $3.1821
26 $6.5066 $8.2994 $7.2314 $4.3848 $5.8105 $4.9537 $2.7344 $3.8747 $3.1821
27 $6.6228 $8.6295 $7.4279 $4.3999 $6.0965 $5.0692 $2.7145 $4.1756 $3.2808
28 $6.7988 $9.0447 $7.6940 $4.4531 $6.3867 $5.2105 $2.7195 $4.4224 $3.3753
29 $7.0405 $9.5928 $8.0514 $4.5467 $6.7101 $5.3901 $2.7497 $4.6330 $3.4726
30 $7.3378 $10.1829 $8.4596 $4.6748 $7.0365 $5.5929 $2.8054 $4.8275 $3.5799
31 $7.6902 $10.8992 $8.9500 $4.8407 $7.4138 $5.8384 $2.8907 $5.0291 $3.7090
32 $8.1033 $11.6798 $9.5031 $5.0394 $7.8061 $6.1106 $2.9967 $5.2235 $3.8489
33 $8.5716 $12.6443 $10.1594 $5.2742 $8.2862 $6.4384 $3.1324 $5.4560 $4.0217
34 $9.0955 $13.6466 $10.8652 $5.5417 $8.7891 $6.7954 $3.2934 $5.7162 $4.2210
35 $9.6795 $14.7439 $11.6447 $5.8498 $9.3545 $7.2017 $3.4900 $6.0335 $4.4640
36 $10.3192 $15.9111 $12.4856 $6.1925 $9.9729 $7.6499 $3.7168 $6.4098 $4.7483
37 $11.0191 $17.2133 $13.4150 $6.5812 $10.6791 $8.1596 $3.9885 $6.8622 $5.0894
38 $11.7846 $18.5793 $14.4100 $7.0138 $11.4559 $8.7236 $4.3008 $7.4054 $5.4900
39 $12.6158 $20.0934 $15.5016 $7.4968 $12.3362 $9.3582 $4.6637 $8.0432 $5.9581
40 $13.5169 $21.6571 $16.6564 $8.0405 $13.3035 $10.0638 $5.0915 $8.8057 $6.5140
41 $14.4992 $23.3711 $17.9189 $8.6841 $14.4436 $10.8971 $5.5801 $9.6789 $7.1492
42 $15.5667 $25.1647 $19.2652 $9.4076 $15.7046 $11.8264 $6.1490 $10.6999 $7.8910
43 $16.7200 $27.1058 $20.7207 $10.2184 $17.1030 $12.8623 $6.8088 $11.8574 $8.7413
44 $17.9840 $29.1236 $22.2755 $11.1279 $18.6215 $14.0057 $7.5642 $13.1632 $9.7073
45 $19.3538 $31.2652 $23.9438 $12.1512 $20.2927 $15.2783 $8.4407 $14.6402 $10.8144
46 $20.8547 $33.6223 $25.7756 $13.3035 $22.1498 $16.7024 $9.4479 $16.2920 $12.0695
47 $22.4967 $36.0644 $27.7292 $14.5979 $24.1431 $18.2677 $10.6012 $18.1110 $13.4801
48 $24.2894 $38.7223 $29.8591 $16.0520 $26.3254 $20.0046 $11.9207 $20.1079 $15.0627
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114
Table 7: Premiums rates for Income Protection insurance with a 5-year benefit period (cont'd).
Benefit period 5 years
Waiting period 30 days 60 days 90 days
Age at your next
Male Female Unisex Male Female Unisex Male Female Unisex
birthday
49 $26.2584 $41.5454 $32.1628 $17.6900 $28.6875 $21.9263 $13.4316 $22.2970 $16.8386
50 $28.4292 $44.6059 $34.6832 $19.5346 $31.2549 $24.0557 $15.1538 $24.6790 $18.8213
51 $30.8162 $47.7872 $37.3865 $21.6042 $33.9803 $26.3876 $17.1079 $27.2412 $21.0187
52 $33.4501 $51.2933 $40.3679 $23.9324 $36.9476 $28.9741 $19.3288 $30.0088 $23.4631
53 $36.3611 $55.0183 $43.6076 $26.5461 $40.1083 $31.8148 $21.8419 $32.9622 $26.1626
54 $39.5890 $59.1421 $47.1975 $29.4788 $43.5221 $34.9530 $24.6771 $36.1036 $29.1377
55 $43.1697 $63.5034 $51.1008 $32.7625 $47.1349 $38.3895 $27.8649 $39.4321 $32.4078
56 $47.1486 $68.3411 $55.4348 $36.4426 $51.0182 $42.1796 $31.4509 $42.9406 $35.9988
57 $51.5802 $73.5084 $60.1805 $40.5605 $55.1170 $46.3292 $35.4696 $46.6208 $39.9300
58 $56.5310 $79.2164 $65.4581 $45.1645 $59.4924 $50.8920 $39.9620 $50.4638 $44.2245
59 $62.0605 $85.4456 $71.2986 $50.3042 $64.1231 $55.8917 $44.9728 $54.4534 $48.9048
60 $68.2599 $92.2587 $77.7834 $56.0387 $69.0228 $61.3712 $50.5478 $58.5837 $53.9977
61 $74.7426 $99.9816 $84.7860 $61.7417 $74.6939 $67.1162 $55.9551 $63.4387 $59.2513
62 $81.8408 $108.3514 $92.4218 $67.3703 $81.1430 $73.1014 $60.9901 $69.1463 $64.5828
63 $89.2101 $118.1042 $100.7427 $73.3885 $88.3594 $79.6196 $66.4778 $75.3673 $70.3935
64 $43.6250 $48.4010 $45.8031 $35.0354 $34.4700 $35.1563 $31.3190 $28.4426 $30.5495
65 $48.8626 $54.2084 $51.3011 $39.2125 $38.5610 $39.3408 $35.0765 $31.8551 $34.2149
66 $54.7241 $60.7160 $57.4568 $43.9163 $43.1890 $44.0609 $39.2843 $35.6777 $38.3198
67 $61.2942 $68.0018 $64.3535 $49.1868 $48.3716 $49.3483 $43.9979 $39.9588 $42.9177
68 $68.6467 $76.1607 $72.0739 $55.0899 $54.1758 $55.2705 $49.2799 $44.7535 $48.0692
69 $55.6061 $61.6894 $58.3811 $44.6227 $43.8822 $44.7691 $39.9155 $36.2504 $38.9355
70 $18.3483 $20.3568 $19.2644 $14.7260 $14.4816 $14.7741 $13.1737 $11.9637 $12.8499
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Table 8: Premiums rates for Income Protection insurance with a benefit period to age 65
Benefit period To age 65
Waiting period 30 days 60 days 90 days
Age at your next
Male Female Unisex Male Female Unisex Male Female Unisex
birthday
16 $16.4336 $24.0664 $18.9395 $12.6945 $19.0768 $14.8058 $8.9552 $14.0874 $10.6722
17 $16.4336 $24.0664 $18.9395 $12.6477 $19.0147 $14.7540 $8.9552 $14.0874 $10.6722
18 $16.4336 $24.0664 $18.9395 $12.6008 $18.9523 $14.7023 $8.9552 $14.0874 $10.6722
19 $16.4147 $24.0391 $18.9179 $12.5385 $18.8664 $14.6324 $8.9426 $14.0677 $10.6571
20 $16.3897 $24.0022 $18.8891 $12.4734 $18.7763 $14.5595 $8.9300 $14.0484 $10.6422
21 $16.3586 $23.8791 $18.8250 $12.4022 $18.6299 $14.4619 $8.9114 $13.9982 $10.6124
22 $16.3336 $23.8256 $18.7900 $12.3341 $18.5123 $14.3772 $8.8927 $13.9402 $10.5796
23 $16.3021 $23.7340 $18.7375 $12.2630 $18.3941 $14.2901 $8.8740 $13.9133 $10.5584
24 $16.2645 $23.6945 $18.6999 $12.1859 $18.2471 $14.1889 $8.8490 $13.7901 $10.4983
25 $16.2332 $23.5502 $18.6281 $12.1118 $18.0926 $14.0870 $8.8238 $13.7390 $10.4643
26 $16.1645 $23.9639 $18.7345 $12.0177 $18.7352 $14.2603 $8.7925 $14.6683 $10.7804
27 $16.7528 $25.3945 $19.6180 $12.3037 $19.8662 $14.8470 $8.9300 $15.6744 $11.2293
28 $17.4974 $27.0123 $20.6667 $12.6899 $21.0204 $15.5047 $9.1367 $16.5917 $11.6892
29 $18.3985 $28.8683 $21.8988 $13.1752 $22.2132 $16.2378 $9.4122 $17.4189 $12.1596
30 $19.4437 $31.0336 $23.3325 $13.7487 $23.4278 $17.0342 $9.7501 $18.0873 $12.6118
31 $20.6327 $33.4118 $24.9327 $14.4052 $24.7462 $17.9197 $10.1443 $18.8173 $13.1212
32 $21.9595 $35.9654 $26.6822 $15.1519 $26.1639 $18.8973 $10.6136 $19.6295 $13.7073
33 $23.4238 $38.7353 $28.5955 $15.9839 $27.6826 $19.9645 $11.1518 $20.5042 $14.3588
34 $25.0196 $41.7520 $30.6800 $16.9050 $29.2950 $21.1210 $11.7713 $21.4139 $15.0736
35 $26.7469 $44.8894 $32.8902 $17.9183 $31.1266 $22.4144 $12.4784 $22.6468 $15.9598
36 $28.5991 $48.2110 $35.2449 $19.0243 $33.0807 $23.8098 $13.2796 $24.0022 $16.9489
37 $30.5829 $51.6751 $37.7330 $20.2411 $35.1950 $25.3321 $14.1996 $25.5675 $18.0877
38 $32.6918 $55.2676 $40.3454 $21.5731 $37.5325 $27.0068 $15.2506 $27.4474 $19.4223
39 $34.9322 $58.9025 $43.0553 $23.0318 $40.0634 $28.8305 $16.4462 $29.6377 $20.9586
40 $37.3103 $62.7050 $45.9113 $24.6353 $42.8318 $30.8303 $17.8103 $32.1308 $22.7096
41 $39.8196 $66.6227 $48.8912 $26.4814 $45.9755 $33.1168 $19.3622 $34.9549 $24.6975
42 $42.4731 $70.5392 $51.9603 $28.5128 $49.3361 $35.5971 $21.1271 $38.1188 $26.9405
43 $45.2642 $74.5049 $55.1330 $30.7398 $52.9005 $38.2731 $23.1235 $41.5714 $29.4321
44 $48.2118 $78.5967 $58.4489 $33.1821 $56.7951 $41.2028 $25.3701 $45.4637 $32.2388
45 $51.3032 $82.5812 $61.8156 $35.8518 $60.7545 $44.2974 $27.8920 $49.5102 $35.2729
46 $54.5513 $86.6214 $65.3003 $38.7671 $64.9583 $47.6337 $30.7081 $53.8978 $38.6133
47 $57.9493 $90.6505 $68.8745 $41.9305 $69.2488 $51.1558 $33.8247 $58.4189 $42.1896
48 $61.4977 $94.5613 $72.4998 $45.3514 $73.6075 $54.8633 $37.2540 $63.0989 $46.0186
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Table 8: Premiums rates for Income Protection insurance with a benefit period to age 65 (cont'd).
Benefit period To age 65
Waiting period 30 days 60 days 90 days
Age at your next
Male Female Unisex Male Female Unisex Male Female Unisex
birthday
49 $65.1771 $98.3890 $76.1771 $49.0243 $77.9797 $58.7328 $40.9964 $67.8361 $50.0630
50 $68.9823 $102.0837 $79.8844 $52.9404 $82.3127 $62.7398 $45.0389 $72.5747 $54.2955
51 $72.8746 $105.5355 $83.5586 $57.0709 $86.3822 $66.7857 $49.3571 $77.0335 $58.5988
52 $76.8298 $108.7575 $87.1889 $61.3834 $90.2523 $70.8731 $53.9127 $81.3019 $62.9815
53 $80.7971 $111.5873 $90.6854 $65.8174 $93.6961 $74.8820 $58.6375 $85.1210 $67.3075
54 $84.6896 $113.9628 $93.9710 $70.2851 $96.5591 $78.7025 $63.4437 $88.2932 $71.4510
55 $88.4258 $115.8142 $96.9700 $74.6722 $98.7082 $82.2150 $68.1998 $90.6585 $75.2716
56 $91.8677 $116.8694 $99.4978 $78.8290 $99.9602 $85.2600 $72.7495 $92.0760 $78.6213
57 $94.8591 $117.1097 $101.4506 $82.5571 $100.1570 $87.6565 $76.8734 $92.3252 $81.2839
58 $97.1746 $116.3135 $102.6075 $85.5960 $99.1127 $89.1752 $80.2967 $91.2395 $83.0271
59 $98.5200 $114.2757 $102.7110 $87.6097 $96.6302 $89.5350 $82.6621 $88.6282 $83.5598
60 $98.5074 $110.6480 $101.3935 $88.1572 $92.4410 $88.3640 $83.5069 $84.2608 $82.5103
61 $71.9981 $98.6276 $83.3918 $64.5908 $77.2403 $70.6094 $61.2940 $67.7210 $64.9202
62 $68.6927 $79.8057 $74.2186 $61.4515 $66.8768 $64.7063 $58.2588 $61.1757 $60.5119
63 $61.9466 $59.6142 $62.3108 $54.9471 $54.2157 $55.7701 $51.8902 $51.8580 $52.9137
64 $39.5910 $43.7856 $41.9495 $32.7978 $31.5771 $32.9958 $29.8589 $26.2947 $29.1221
65 $30.0684 $33.2636 $31.8632 $24.2895 $23.4368 $24.4556 $21.8129 $19.2249 $21.2805
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Table 9: Income Protection Occupational Rating factors 8.20 Income protection cover definitions
Pre-Disability Income
Occupational Rating Occupational Rating factor
Where you are employed (excluding where you are self-
Professional 0.38
employed), the total annual regular gross income received
White Collar 0.48 from your employer for personal exertion for your usual
occupation averaged over the most recent 12 month
Unknown/Light Blue 1.00
period (and may include any period of unemployment
Heavy Blue 1.52 since you last worked or the actual period worked if less
Special Risk 2.14 than 12 months) and includes:
· cash salary,
If you are electing to take up income protection cover
· regular overtime (averaged over the previous three
under the special insurance offer (see Section 8.11.3) and
years, or the actual period worked, if less),
do not provide occupational information acceptable to the
Insurer or are Employed in an Ineligible Occupation you will · the monetary value of non-cash benefits or fringe
not be eligible for this cover. benefits provided by your employer in direct
substitution of salary (as long as the fringe benefits
8.19.1 Apply for your insurance premiums
continue to be provided after disability benefit
to be waived when you take parental leave payments have commenced), and
You can apply for your insurance premiums to be waived
· performance related commissions, bonuses and other
during employer approved parental leave, provided you
monetary benefits, averaged over the previous three
have been a member of Hostplus for at least 12 months
years, or actual period (if less).
at the time you apply. This option is not available if you
are self-employed. Where you are self-employed (i.e. you directly or indirectly
own all or part of the business from which you earn your
To make an application, please arrange for your employer
income), the total amount earned by the business over the
who approved your parental leave to complete the
financial year as a direct result of your personal exertion or
Notification of Parental Leave form approved by us
activities through your usual occupation, less your share
and return to Hostplus before your leave commences.
of business expenses, but before the deduction of income
If all the requirements are satisfied, your insurance tax for that business.
premiums will be waived during any parental leave period
Where you are an employed person who has been absent
for the duration of your leave up to a maximum period
from employment due to being on employer approved
of up to 12 months’ leave. If you are already on parental
leave for up to 24 months (for example maternity or
leave then please be aware that the premiums will only be
study leave), the total annual regular gross income
waived from the date Hostplus receives your completed
received from an employer for personal exertion for your
form. The waiver cannot be backdated. The start and end
usual occupation before the employer approved leave
date of the waiver must be specified in the application.
commenced and averaged over the 12 month period
The end date of the waiver must occur during the period
(and may include any period of unemployment since you
of parental leave; and no more than 12 months after the
last worked or the actual period worked if less than 12
date the parental leave commenced.
months) before the employer approved leave commenced
You will maintain your cover during the premium waiver and includes:
period and you will be entitled to claim a benefit where
· cash salary,
you become disabled during the premium waiver period,
although the waiting period will not commence until after · regular overtime (averaged over the previous three
the employer approved leave. You may still apply to change years, or the actual period, if less),
your cover during this period and the change will continue
· the monetary value of non-cash benefits or
to be maintained after the expiry of the waiver period. The
fringe benefits provided by your employer in direct
waiver will apply to any additional cover that commences
substitution of salary (as long as the fringe benefits
during the waiver period.
continue to be provided after disability benefit
payments have commenced), and
· performance related commissions, bonuses and other
monetary benefits, averaged over the previous three
years, or actual period (if less).
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Monthly Pre-Disability Income is one twelfth of the index (weighted average of 8 capital cities combined)
Pre-Disability Income earned by you. as published by the Australian Bureau of Statistics or its
successor. If the Index is not published, the increase shall
Disabled or Disability
be calculated by reference to such other retail price index
In the opinion of the Insurer, after consideration of medical which in the opinion of the Insurer most closely replaces it.
evidence that, solely as a result of Injury or Illness, you are:
Contribution means a contribution from any source or a
· unable to perform at least one Income Producing Duty transfer or rollover of a superannuation benefit received
of your occupation, from, or on behalf of, you.
· not working in any occupation, whether or not for Disability Income means any income your earned from
reward, and personal exertion while Disabled or Partially Disabled
when the income is from their occupation, or any
· under the regular care and following the advice of
other occupation.
a medical practitioner.
Disability Monthly Benefit means the lesser of:
Partially Disabled or Partial Disability:
a. the amount of cover which the Insurer has
You:
accepted, and
a. have been Disabled:
b. the Insured Percentage multiplied by Monthly
i. for a period during which a Disability benefit is paid, or Pre-Disability Income, and
ii. for at least 7 days out of 12 consecutive days during c. an applicable Automatic Acceptance Limit or other
the waiting period, and amount agreed by us and the Insurer, and
b. are unable to work in your occupation at full capacity as d. $30,000 per month inclusive of the Superannuation
a result of the Illness or Injury resulting in Disability or Contribution Benefit.
are working in your occupation or any other occupation
Election means a written request or positive election from
but only in a limited capacity, and
the member to always maintain all their cover provided
c. are earning a monthly income that is less than your under the Hostplus policy even if no Contribution has
Monthly Pre-Disability Income due Illness or Injury, and been received from any source into the Member’s account
for a continuous period of 16 months.
d. are under the regular care and following the advice of a
medical practitioner. To avoid doubt, a written request or positive election
made after 8 May 2018 and before 1 April 2019 to be
Other Definitions:
provided with cover under the Hostplus policy will qualify
Active Employment or Actively Employed means as a valid Election without having to specify for the
you are: cover to be maintained even if no Contribution has been
received from any source into the member’s account for a
a. actively performing or capable of performing all the
continuous period of 16 months.
duties of all the occupations you held for at least 35
hours per week (even if not working 35 hours per week),
Eligible Person
free from any limitation due to Illness or Injury, and
You are an Employer Sponsored Member or Personal
b. not in receipt of, or entitled to claim, Income Support Super Plan Member who is:
Benefits from any source including but not limited
a. at least 15 years old and not older than the Maximum
to workers’ compensation benefits, statutory motor
Entry Age,
accident benefits or disability income benefits (including
government Income Support Benefits of any kind). b. an Australian resident or a lawful non-citizen within the
meaning of the Migration Act 1958 (Cth) for whom your
Consumer Price Index or CPI means the consumer price
employer is required to make employer contributions, for
cover other than cover provided as part of automatic cover,
c. not an Excluded Member, and
d. not an insured member under Hostplus Executive.
Employer Sponsored Member(s)
A member of the employer sponsored division of the Fund
(as defined in the trust deed of the Fund).
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119
Excluded Member means a member who: Ineligible Occupation means employees of the Australian
Defence Force, Federal or State police forces, armed
a. has previously declined automatic cover, opted out of
security guards, professional sportspeople, and coaches
or cancelled all cover under the Hostplus policy or a
or trainers of professional sportspeople (except coaches
Previous Policy,
who spend more than 90% of their time in an office or
b. is eligible to receive, or has received, a lump sum benefit similar environment).
for total and permanent disablement from any source,
Injury means bodily injury which is caused solely and
c. has attained the Maximum Expiry Age, or directly by external, violent and accidental means and is
independent of any other cause.
d. is in an Ineligible Occupation or whose Occupation
excludes them from being eligible for cover under Insured Percentage means up to 75% of the Monthly
this Policy. Pre-disability Income.
Exempt Person means a member to whom we are Maximum Benefit Period means the maximum period
permitted, under the Superannuation Industry (Supervision) during which Disability benefits, or if applicable, any one
Act 1993 (Cth), to provide cover under the Hostplus period of Disability and Partial Disability will be paid under
policy because: the Hostplus policy in respect of a member for any one
Illness or Injury. The Maximum Benefit Period includes any
i. the member has made a written request or positive
period in which a benefit is or was payable but is calculated
election to be provided with cover under the Hostplus
to be zero or less than zero.
policy even where:
a. their account has not had a balance of at least Maximum Entry Age
$6,000 on or after 1 November 2019, or For 2 years and 5 years Maximum Benefit Period, 69 years.
b. they are aged less than 25 years (where To age 65 Maximum Benefit Period, 64 years.
applicable), or
New Events Cover means you are only covered for an
ii. the member has made an Election. Illness that first becomes apparent, or an Injury that first
occurs, on or after the date cover commenced.
For the avoidance of doubt, a member can be an Exempt
Person in respect of the PMIF Laws but not an Exempt Nominated Event means an age, salary or membership
Person in respect of a period of Inactivity and vice versa. milestone or any other event, as agreed by Hostplus and
the Insurer.
Full Cover means cover that is not New Events Cover or
Restricted Cover. Occupational Rating means any of the Occupational
Ratings set out and as defined in Section 8.4, one of which
Fund means the Hostplus Superannuation Fund.
will apply to you at any given time in accordance with the
Illness means sickness, disease or disorder. terms of the Hostplus policy and is relevant to determining
your rate of premium for your insurance cover.
Inactive or Inactivity means:
Personal Super Plan Member means a member of the
a. no Contribution has been received from any source
personal division of the Fund (as defined in the trust deed
into your member account for a continuous period
of the Fund).
of 16 months ending on or after 1 July 2019,
b. we have not received an Election from you, and Pre-existing Condition
Any Injury or Illness, condition or related symptom which
c. we have not advised the Insurer that you are an
you, or any reasonable person in your position:
Exempt Person.
· was aware of, or should have been aware of; or
Income Producing Duty
· had, or was intending to have, or would have had a
A duty of your occupation that generates at least 20%
medical consultation for,
of your Monthly Pre-Disability Income.
in the two years prior to the date your cover commenced
Income Support Benefits
or recommenced under the Hostplus policy or a
Monetary benefits which are paid or entitled to be paid Previous Policy.
to replace a person’s loss of income or income earning
capacity as a result of Illness or Injury.
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120
Previous Policy means, as the context requires, a 8.21.1 How is your premium calculated?
previously applicable Club Super policy, Intrust policy,
SalarySafe premiums are based on your employer SG
Statewide Super policy or group “life policy” under the Life
contribution, multiplied by a premium rate of 6.52% for
Insurance Act 1995 (Cth) entered into between Hostplus
the default waiting period. Your premium rate is tied to
and OnePath Life Limited (as it was then known).
the relevant waiting period that applies; the longer your
Putting Members' Interests First Laws or PMIF Laws waiting period, the lower the premium rate – see Section
refers to the Treasury Laws Amendment (Putting Members' 8.21.6 What is the Waiting Period for further information.
Interests First) Act 2019 and associated amendments to the
Premium rates include stamp duty.
Superannuation Industry Supervision Act 1993 (Cth).
You automatically receive a 28 day waiting period unless
Restricted Cover: you elect another waiting period.
The person is not covered for a Pre-Existing Condition.
8.21.2 When does SalarySafe cover start?
Retraining Expenses means the cost of a retraining
Cover for new members of Hostplus who are Eligible
program (other than a retraining program providing
For Cover will commence from the first date of the
‘hospital treatment’ or ‘general treatment’ within the
relevant period that the first employer superannuation
meaning of the Private Health Insurance Act 2007 (Cth) or
contribution after the member became Eligible For Cover
any other program which might cause the Hostplus policy
represents and from which premiums are paid to the
to cease to be exempt from any legislation in connection
Insurer or the date that the member became Eligible For
with health insurance) which the Insurer has approved in
Cover, whichever is the later, provided that this payment
writing prior to incurring such costs.
is made by the first quarterly deadline outlined in the
Superannuation Contribution Monthly Benefit means superannuation guarantee (SG) legislation and:
the Superannuation Contribution Insured Percentage
1. the member has instructed their employer to have
multiplied by Monthly Pre-Disability Income.
Hostplus as their superannuation fund for receiving SG
Superannuation Contribution Insured Percentage means payments on the commencement of new employment
up to 15% of Monthly Pre-Disability Income. and the member is Actively At Work, or
War includes an act of war (whether declared or not), 2. the employer has nominated Hostplus as the default
revolution, invasion, rebellion or civil unrest. Fund for the purpose of complying with the SG legislation
and for receiving SG payments on the commencement
8.21 Automatic income protection Insurance of new employment and the member is Actively At Work.
(SalarySafe)
Where all the above conditions are not met, cover will
This section discloses the terms and conditions of commence from the first date that the first employer
automatic income protection (SalarySafe) insurance cover superannuation contribution payment made by a
that only applies to members who join Hostplus through Participating Employer after the member became Eligible
an employer who was previously a default employer of For Cover represents and from which premiums are paid
Club Super (Club Super Default Employer). The terms and to the Insurer or the date that the member became
conditions of that cover are disclosed in this section of Eligible For Cover, whichever is the later, but will be limited
the document. to New Events cover only.
SalarySafe income protection cover will be provided if you Cover for existing members of Hostplus at the Takeover
are an employee of a Club Super Default Employer and Date will have their Continuous Cover recognised, subject
are Actively At Work. It provides you with 24 hours, 7 days to the terms and conditions of the policy. For members
a week income protection cover. It pays a benefit of up to who are eligible for cover but have not accepted cover,
90% of your income, for the first 26 weeks of your claim cover may commence from the date when their written
(tapering applies thereafter) if you are unable to work in request to take up cover is received.
your usual occupation due to sickness or injury.
In addition, a 11.5% Superannuation Guarantee
contribution on the income protection benefit payable
is paid into your super account (12% from 1 July 2025),
calculated on the amount of benefit you receive when you
are on claim. The default waiting period is 28 consecutive
days (the "Waiting Period") after you are injured or sick and
cannot work for a period of time. Variable waiting periods
are also available.
You will automatically receive income protection cover
when you become Eligible for cover.
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121
Recommencement of Cover 8.21.4 How are SalarySafe benefits paid?
For those members of Hostplus where cover has ceased due SalarySafe benefits are calculated weekly and paid
to the member no longer being employed by a Club Super fortnightly in arrears. You will receive one seventh (1/7th)
Default Employer and the member later recommences of the weekly benefit for each day that you are unable to
employment with a Club Super Default Employer and is work due to sickness or injury.
Eligible For Cover, cover will recommence from the first date
Superannuation Guarantee contributions, received as
of the relevant period that the first employer superannuation
part of your SalarySafe benefit, are paid to your Hostplus
payment made by the most recent Club Super Default
account quarterly.
Employer after the member recommences employment
with the Club Super Default Employer represents or the date
8.21.5 When are SalarySafe benefits paid?
that the member became Eligible For Cover, whichever is the
Your first benefit will be paid at the end of the first fortnight
later, provided that this payment is made by the first quarterly
after the waiting period.
deadline outlined in the SG legislation and the member is
Actively At Work on their first day of employment. SalarySafe benefits are payable if you suffer Disablement.
For those members where the payment was not received Important definitions related to SalarySafe cover
by the first quarterly deadline, cover will recommence from
The following terms are important. The insurance policy
the first date of the relevant period that the first employer
defines them as follows:
superannuation contribution payment made by a Club
Super Default Employer after the member recommences Actively At Work means you are employed by a Club
employment with the Club Super Default Employer Super Default Employer and, in the Insurer’s opinion,
represents or the date that the member became Eligible are genuinely performing all the duties of your usual
For Cover, whichever is the later, but will be limited to New occupation and capable of working your usual hours
Events cover only. without restriction. A member who is on paid leave
(including annual leave, sick leave, long service leave,
For those members where insurance ceased because they
parental leave) and all employer-approved unpaid leave
ceased to be Eligible For Cover (due to PMIF) on 31 March
shall also be considered to be actively at work provided:
2020,cover will recommence either:
· that leave is not in connection with an Injury or a
1. if the member becomes Eligible For Cover. Cover
Sickness that leads to Disablement, and
will commence on the date Hostplus receives the
superannuation contribution payment after the · they were Actively At Work for their usual hours without
member became Eligible For Cover, but shall be limited restriction the week prior to that leave.
to New Events cover only, or
A member who has a permanent impairment/Disablement
2. if the member reapplies for coverage under this Policy prior to being an insured member will not be considered
by writing to Hostplus and requests to opt in for this Actively At Work for that condition.
insurance coverage. Cover will commence on the
Club Super means Club Plus Qld Pty Ltd (ABN 30 010 892
date Hostplus received the request to opt in for this
396) as Trustee of the Club Super superannuation fund
insurance coverage, but shall be limited to New Events
(ABN 12 737 334 298).
cover only.
Club Super Default Employer means a Participating
8.21.3 How much will my benefit be?
Employer registered as a ‘standard employer-sponsor’ of
The maximum benefit payable is up to 90% of your the Club Super superannuation fund (ABN 12 737 334 298)
income, for the first 26 weeks of your claim (tapering immediately prior to 1 November 2019. Please contact
applies thereafter), plus a Superannuation Guarantee us to check whether your employer is a Club Super
contribution of 11.5% of the value of the benefit payable. Default Employer.
Benefit amounts will taper over the maximum 104 week
Degenerative Condition means any condition that
period. You are only covered for the income earned from
has gradually developed over time affecting your
your Club Super Default Employer; this means that if you
musculoskeletal system (muscles, bones, ligaments and
cease employment with a Club Super Default Employer
joints, including vertebral discs and cartilage).
you lose your SalarySafe cover, even if you commence
employment with a non-Club Super Default Employer. Disablement means Total Disablement or
Partial Disablement.
Please refer to 8.21.13 Can the SalarySafe benefit be
reduced? and 8.21.8 Tapering for further information Election means that the member has made a written
about your benefit. request or positive election to Hostplus to be covered
under the policy.
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122
Eligible For Cover means a person who is a member of accordance with the instructions or professional advice of
Hostplus and is currently not opted out for the SalarySafe a medical practitioner.
insurance, is not Inactive and who satisfies sub-section ‘a.’
If during such Disablement the insured member is
or ‘b.’ as applicable below:
able to return to work in a reduced capacity then the
a. For a person who became a member of Hostplus compensation payable shall be calculated as the
before 1 April 2020, a person who has had an account difference between their earnings from reduced work
balance with Hostplus that was equal to or greater than capacity and their Pre-Disability Income, multiplied by the
$6,000 on or after 1 November 2019 or who has made benefit for total disablement.
an Election to receive cover even if the member has not
If the insured member is able to return to work in a
had an account balance with Hostplus that was equal to
reduced capacity, and that work is available but the insured
or greater than $6,000 on or after 1 November 2019.
member declines to do so or if the insured member is
b. For a person who became a member of Hostplus on or no longer employed by an admitted employer, then the
after 1 April 2020, a person who is over the age of 25 and compensation payable will be reduced to 25% of the
has an account balance with Hostplus that is equal to benefit for total Disablement per week.
or greater than $6,000, or who has made an Election to
Pre-Existing Sickness means any pre-existing sickness
receive cover even if the member is under the age of 25
that an insured person is having or has had treatment for,
or does not have an account balance with Hostplus that
or advice for treatment prior to the commencement of
is equal to or greater than $6,000.
your income protection cover under the policy. However,
Fund means the Hostplus Superannuation Fund. such a condition will be covered provided that:
Inactive means Hostplus has not received a contribution a. the insured person, with the agreement of a legally
from any source into the member's account for a qualified medical practitioner, ceased all treatment or
continuous period of 16 months ending on or after advice for at least 6 months during continuous cover, or
1 July 2019, and the member has not made an Election
b. the insured person has had 2 years of continuous cover
to receive cover even if Hostplus has not received a
under SalarySafe prior to the time of Disablement and
contribution from any source into the member's account
has been actively at work prior to the Disablement
for a continuous period of 16 months ending on or after
which leads to the claim.
1 July 2019.
Sickness means a state of being ill, including a
Income means your average weekly income before
Degenerative Condition resulting in disablement,
personal deductions and income tax for the number
which is first contracted or which the insured member
of weeks you are employed during the 52 week period
first becomes aware of while continuous cover is in
immediately preceding Injury or Sickness resulting in
force and which continues for a period of not less
any events insured under this policy. “Income” includes
than the waiting period and excludes any Pre-Existing
all overtime and all allowances actually paid to you that
Sickness and any injury.
have been earned from personal exertion at your usual
employment from which you are a member of Hostplus. Total Disablement means that as a result of Injury or
Sickness the insured member is prevented from engaging
Injury means a physical injury which occurs fortuitously
in his or her usual occupation with the Club Super Default
whilst continuous cover is in force and which results in
Employer in Australia for which they are a member of
Disablement, within 12 calendar months from the date
Hostplus. The insured member must be Actively At Work
of its occurrence and which injury occurs prior to cover
at the time the Injury or Sickness occurs, and must be
ceasing. Such Disablement must continue for a period of
under the regular care, medically certified and acting in
not less than the waiting period but does not include any
accordance with the instructions or professional advice of
condition which is also a Sickness.
a medical practitioner.
New Events means an Injury that first occurs or a Sickness
that first becomes apparent on or after the date that cover
commences or recommences (as applicable).
Partial Disablement means that as a result of an
Injury or Sickness, the insured member is prevented
from engaging in a substantial part of his or her usual
occupation with the Club Super Default Employer in
Australia. The insured member must be Actively At Work
at the time the Injury or Sickness occurs and must be
under the regular care, medically certified and acting in
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123
8.21.6 What is the waiting period? 8.21.9 What is the maximum benefit period?
The waiting period is the period of time (in consecutive SalarySafe benefits are payable for a maximum period
days) that you have to be Disabled before you become of two years or to the date you turn 65 years (subject
eligible to receive a fortnightly income benefit. The waiting to comments in section below), whichever occurs first,
period commences from the date a medical practitioner commencing after the 28 day default waiting period. The
certifies that you are Disabled. Hostplus’ default waiting waiting period starts on the date your legally qualified
period is 28 days if you do not make a choice. Variable medical practitioner certifies you unfit to work for
waiting periods are available (see following table) and the the condition.
longer the waiting period, the lower the fee.
If you turn age 65 while in receipt of a SalarySafe benefit,
Your first benefit will be paid at the end of the first fortnight the remaining payment period depends on whether you
after the waiting period ends. are off work due to sickness or injury.
Waiting Period Premium rates^ · If you are on claim due to sickness, you can receive an
additional 12 weeks, to a maximum of 104 weeks total
28 days 6.52%*
benefit payment period.
30 days 5.87%
· If you are on claim due to injury, you can receive an
60 days 4.88%
additional 52 weeks, to a maximum of 104 weeks
90 days 3.91%
total benefit.
^The premium you pay is calculated by multiplying the premium rate by
your total monthly (or total monthly equivalent) compulsory employer
8.21.10 What if you are aged 65 to 70
superannuation contribution.
when you make a claim?
*You automatically receive a 28 day waiting period unless you elect
another waiting period. The maximum benefit period in this case depends on
Premium rates include stamp duty. whether your claim is due to sickness or injury:
8.21.7 Loyalty Bonus · If your claim is due to Sickness, your maximum benefit
After 5 years continuous cover with no claims (Platinum period is 12 weeks, or to the date you turn 70, whichever
Membership Status), your benefit will be backdated occurs first, or
to commence 7 days prior to the last day of the waiting
· If your claim is due to Injury, your maximum benefit
period). The maximum benefit payment period of 104
period is 52 weeks, or to the date you turn 70, whichever
weeks still applies.
occurs first.
8.21.8 Tapering
8.21.11 What if you become self-employed?
Tapering applies to the Total Disablement benefit and
As a self-employed member you would no longer be
Partial Disablement benefit, which means that the value of
eligible for SalarySafe insurance cover. As a result:
your Total Disablement and/or Partial Disablement benefit
will reduce over time, as follows: · Your SalarySafe insurance cover will be cancelled,
i. 90%¹ of your income for the first 26 weeks of claim, · You will not be eligible to claim on any SalarySafe
insurance cover from Hostplus, and
ii. 75%¹ of your income for weeks 27 to 52, and
If, at a future date, you are in receipt of valid employer
iii. 65%¹ of your income for weeks 53 to 104.
contributions and wish to reinstate SalarySafe insurance
1. Plus 11.5% of that benefit value as SG Contributions into your cover you will be required to notify Hostplus in writing.
superannuation
For Partial Disablement the tapering applies in addition
to any further reduction of benefit payable (see Section
8.21.13).
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8.21.12 Can you cancel your SalarySafe cover? · If you are not covered by a Workers Compensation
Scheme in the State that you work (for any reason),
If you prefer not to have insurance cover, you can elect in
your SalarySafe benefits can be reduced by the value of
writing to cancel your cover upon joining, or cancel it at any
the compensation that you would otherwise have been
time online or by writing to us at the address below.
eligible to receive had you been covered by that State’s
HOSTPLUS Workers Compensation Scheme
Locked Bag 5046
· If you are entitled to a benefit under SalarySafe through
Parramatta NSW 2124
being unable to follow your usual occupation with your
If you cancel your insurance cover and subsequently Club Super Default Employer but you continue to earn
decide that you would like to re-apply for insurance cover an income from another source or employer – for
down the track, you can do so by completing a new example you have a second job (provided that you were
online insurance application online by clicking here. Any employed by that other employer prior to your Sickness
application for insurance made at this time will be subject or Injury) your SalarySafe benefits will not be reduced
to approval by the Insurer and may require underwriting. unless the total of the SalarySafe benefit payable
We cannot reinstate your original cover once you have plus the income derived from the other employment
decided to cancel it. exceeds the value of your total income as at the date
of Sickness or Injury. Should the total figure exceed the
If you cancel your insurance we are unable to refund
total income as at the date of Sickness or Injury then
the premiums paid up to the date you cancelled, unless
the excess portion of that income will be deducted from
your cancellation is received within 60 days of your cover
your SalarySafe benefit.
first commencing.
· If you suffer an Injury or Sickness whilst you are on
8.21.13 Can the SalarySafe benefit
employer-approved unpaid leave, any benefits payable
be reduced?
will only be paid from when the employer-approved
Yes. Your SalarySafe benefit can be reduced in the unpaid leave is due to cease.
following circumstances:
If you receive any income or payments from the
· SalarySafe benefits are reduced by the amount of any following source, your SalarySafe benefit will be
statutory benefit (e.g. Workers’ Compensation), sick reduced accordingly:
leave payments or other not at work related payments
– your Club Super Default Employer or any person or
(such as annual leave etc), received from your Club
entity that becomes your new employer, business
Super Default Employer
partnership or other similar source,
· If your statutory benefit ceases but you are medically
– a superannuation or pension fund, plan or scheme,
unable to return to work, your SalarySafe benefit will
continue up to the maximum benefit period in respect – any other insurance policy that covers disability, injury
to the Injury or Sickness for which you were receiving or sickness; (except for lump sum benefits received
the statutory benefit. The payment will be 75% of the for total and permanent disablement under such an
benefit, subject to any tapering – see Section 8.21.8), insurance policy),
provided you are assessed as unable to return to
– any mortgage, credit card, bill payer or similar
work by an Independent Medical Officer (arranged by
insurance policy,
the Insurer)
– any workers compensation Insurer, compulsory third
· If you reach an agreement with the relevant Workers
party motor vehicle Insurer or public liability Insurer,
Compensation Insurer or Authority to cease weekly
statutory benefits and instead receive a lump sum, the – any government authority or government
Insurer will pay you a lump sum instead of future weekly instrumentality in the form of a pension or allowance;
benefits under SalarySafe, calculated as the lesser of: (except payments received from Centrelink and
Department of Veteran’s Affairs, which will not be
a. t he Maximum Benefit Period (set out in Section
offset),
8.21.9), less any period of payments already made
under SalarySafe cover, or – by way of commission payments or remuneration
relating to any period from which you are paid a
b. the number of weeks used in the calculation of the
SalarySafe benefit,
lump sum payment by the Workers Compensation
Insurer or Authority. A reduced benefit may be payable if you suffer Partial
Disablement. See Section 8.21.5 Partial Disablement.
Once determined, the benefit payable will be that number
of weeks multiplied by the last payment made under your Please contact Hostplus if you have any enquiries
SalarySafe benefit. concerning these terms and conditions or if you need a
copy of the insurance policy.
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125
8.21.14 When does SalarySafe cover cease? 8.21.15 When will a benefit not be payable?
SalarySafe cover will cease when any of the A benefit shall not be payable:
following occurs:
a. For the waiting period,
· When you are no longer employed by a Club Super
b. In excess of the maximum benefit period in respect of
Default Employer, or
any one injury or sickness,
· On your 70th birthday, or
c. Beyond the date of the member’s death,
· On your death, or
d. If the member fails to provide the requested
· When we receive written advice from you that your medical information,
SalarySafe cover is to be cancelled, or
e. If the member fails to follow medical treatment or
· When you cease to be a member of Hostplus, or advice. Any number of days where the member fails to
follow medical treatment or advice will be deducted off
· When you are employed as a casual employee with a
the maximum benefit period,
Participating Employer and your last day at work was
greater than 90 consecutive days, or f. If a fraudulent claim is made in respect of the member,
· When all cover for every member under this Policy g. If the member is serving a prison sentence. Any
ceases, subject to Financial Services Council Guidance number of days where the member is incarcerated will
Note No. 11 – Group Insurance Takeover Terms, or be deducted off the maximum benefit period,
· On the date Hostplus terminates or fails to renew the h. If the member agrees to commute their claim,
Policy, or
i. If the member has previously accepted a TPD
· If premiums on behalf of you are no longer paid by settlement for the same or related condition,
Hostplus to the Insurer. For the avoidance of doubt,
j. If at the time of disablement, the member is not employed
this includes when premiums cease to be paid because
by a Participating Employer (subject to Continuation of
a Club Super Default Employer ceases to make SG
cover upon cessation of employment terms below),
contributions to Hostplus in respect of you, or
k. Under more than one of the benefits in respect of the
· From the date insurance is turned off by Hostplus as
same period of time,
a result of any legislation, including when you ceased
to be Eligible For Cover due to PMIF, or when you l. Once the member is deemed fit to return to work by a
become Inactive. medical practitioner, and
Where SalarySafe cover ceases for you, the Insurer is not m. For an injury that first occurs or a sickness that first
liable to pay a benefit in respect of you where the waiting becomes apparent prior to the date the member of the
period commences after the cover ceases for you. Club Super Default Employer provided an instruction
to their employer to have Hostplus as their chosen
If the waiting period in relation to you began before cover
superannuation fund.
ceased, the Insurer will be liable to pay a benefit in respect
of you as a result of only that Injury or Sickness which
8.21.16 Continuation of cover upon
occurred whilst continuous cover was in force for you,
cessation of employment
subject to the conditions of the policy wording as if it were
If you are leaving your employer to join another Club
still in force for the period that you remain entitled to be
Super Default employer, extended cover may be available.
paid a benefit under the conditions of the policy.
In this case, SalarySafe cover continues for no longer
If the waiting period in relation to you began before cover
than 30 days from the date you cease employment with
ceased, as soon as you are Actively At Work the Insurer
your current employer, provided you have accepted a
will have no liability to pay any benefit in connection with
position with another Club Super Default employer that
that Injury or Sickness including any reoccurrence of the
contributes to Hostplus within those 30 days.
Injury or Sickness, subject to Financial Services Council
Cover may also continue for up to 7 days where a member
Guidance Note No. 11 – Group Insurance Takeover Terms.
has had medical treatment and advice within 30 days
You may be eligible to apply for income protection cover.
prior to ceasing employment with a Club Super Default
If the Insurer accepts your application for income Employer. The member will be covered for an injury or
protection cover, your SalarySafe cover will cease and you sickness whilst continuous cover was in place and suffers a
will become covered in accordance with the policy terms disablement for that condition within that 7 day period.
applicable to income protection cover and you will no
longer be eligible to reapply for SalarySafe cover.
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126
8.21.17 Continuation of cover for 8.21.19 Recurrence of Total
employed members subject to ongoing or Partial Disablement
SG contributions If you suffer a recurrence of disablement (or require
In practice, your cover will show as current on your reconstructive surgery) from the same or related cause,
Hostplus Member Online account and annual member the subsequent period of disablement will be deemed a
statement for up to 90 days after the period for which your continuation of the prior period and the waiting period
last employer SG contribution relates to. shall be waived.
However, please note, you will only be actually covered The Insurer will not be liable to pay a benefit relating to any
for any period for which your employer makes an SG further disablement caused by the same or related injury
contribution to your Hostplus account. or sickness once the Maximum Benefit Period expires.
8.21.18 Are there any Exclusions? 8.21.20 Rehabilitation Benefit
This Policy shall not apply to any Injury or Sickness directly If you have been receiving a SalarySafe benefit, the Insurer
caused by or resulting from: may improve your ability to return to work by a course
of rehabilitation. The Insurer may pay the cost of the
· Any consequence of war, invasion or civil war,
program. Before the Insurer would make such a payment,
· Intentional self-inflicted injury or sickness, including any both they and your treating doctor must first approve
attempt at suicide, the course.
· Pregnancy, childbirth or miscarriage other than:
8.21.21 Taxation
– A complication arising from pregnancy which The SalarySafe benefit payable to you is regarded
requires hospitalization for greater than 24 hours as taxable income and attracts Pay-As-You-Go
within the first 33 weeks of pregnancy, or (PAYG) tax, the same as your wages or salary. PAYG
tax will be deducted from the benefit before it is
– A new Injury or Sickness which occurs during the
paid to you. You cannot claim a tax deduction for the
childbirth or miscarriage.
fees because SalarySafe cover is offered through a
· No benefits shall be payable during any period of superannuation fund.
parental leave.
If you receive a SalarySafe benefit, you will be asked to
· Any Pre-Existing Sickness – (as detailed below), provide your Tax File Number (TFN). If you do not provide
your TFN, the Insurer will have to deduct tax from your
· Any criminal act committed by an insured member,
benefit at the maximum marginal tax rate.
· An insured member being a pilot or crew member of
These statements in relation to taxation are based
any aircraft; or engaging in any aerial activity except as a
on interpretation of present Australian tax law, which
passenger in a properly licensed aircraft,
may be changed at any time. For advice on your own
· Any professional sporting activities where you earn
circumstances, you should always seek professional
more than 50% of your annual gross income from that
taxation advice.
activity, or
8.21.22 Making an insurance claim?
· For any claim where the date of Disablement occurs
prior to 1 October 2020: If you or your beneficiaries need to lodge an insurance
claim with Hostplus please call us on 1300 467 875.
An insured member suffering from:
We have a dedicated claims team who will assist you
· Any psychological conditions, and/or every step of the way with your claims enquiry and
documentation required – at no cost to you – so there is
· Stress related conditions, and/or
no need for you to engage a third party person to do this
· Stress related physical fatigue conditions, including but on your behalf.
not limited to depression, neurosis, psychosis, mental
or emotional stress or anxiety conditions, chronic
fatigue or mental disease and associated disorders,
unless the insured member is in receipt of Workers'
Compensation benefits for that condition.
To avoid doubt, this exclusion will not apply to any
claim where the date of Disablement occurs on or
after 1 October 2020.
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127
8.21.23 Duplicate accounts
You are only eligible to retain insurance in one account.
Where you have multiple accounts, you will retain cover
in the account with the highest level of insurance and
the account with lower insured amount will be closed. If
you have an account with automatic income protection
(SalarySafe) insurance and a separate account with non-
automatic income protection insurance cover, Hostplus
will contact you to discuss your options. Any overpaid
premiums will be refunded to you. Your insurance cover
will automatically be transferred once your accounts
have been merged unless you tell us otherwise. You must
inform us immediately if you have more than one account
with Hostplus.
Please note that if you are an existing member and
have a duplicate account or have joined another division
of Hostplus you are not entitled to the 8.2.2 Special
insurance offer.
The information in this Section contains general advice only and does
not take into account your personal objectives, financial situation or
needs. You should consider if this information is appropriate for you
in light of your circumstances before acting on it. You may also find
it beneficial to obtain advice from a licensed financial adviser. Past
performance is not a reliable indicator of future performance. For
a description of the target market, please read the Target Market
Determination (TMD), available at hostplus.com.au/ddo
While every care has been taken to ensure that the information in this
document is correct, Hostplus reserves the right to correct any error
or misprint in respect of the information shown. Any updated PDSs will
be available on our website at hostplus.com.au
Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as
Trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657
495 890, MySuper No. 68657495890198.
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Section 9.
How to open
an account
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129
If you are not sure which application to complete,
Section 9. How to
check with your employer (if appropriate) or call us on
1300 467 875.
open an account
Once you are a member you can keep track of your super
details online with your Member Online account.
See Section 3.8: Benefits of investing with Hostplus –
9.1 Joining Hostplus Member Online - your online super account.
Generally anyone can join Hostplus, as long as you reside in 9.2 Enquiries and complaints
Australia or are employed by an eligible Australian employer.
If you have an enquiry or complaint, please call 1300 467 875.
Applications made from persons outside Australia who are
We’ll do everything in our power to attend to your matter
not employed by an eligible Australian employer will not be
promptly and courteously. If you are not happy with the way
accepted. Applications to join the Hostplus Personal Super
your matter is handled, we want to know. Please write to:
Plan by those residing outside Australia will not be accepted.
Hostplus Resolutions Officer
Who can join
Locked Bag 5046
Hostplus Superannuation Plan Hostplus Personal Super Plan
Parramatta NSW 2124
You can become a Hostplus You can become a Hostplus
or email [email protected]
Superannuation Plan member Personal Super Plan
if: member if:
The Trustee will acknowledge complaints within 24 hours
· Hostplus is the chosen · you are eligible for (or 1 business day) of receiving it, or as soon as practicable
super fund of your employer Super Choice
and a resolution will be provided to complainants within
and they have become a
· you are self-employed 45 days for superannuation matters and 90 days for
participating employer
· you are not in paid complaints relating to the distribution of a superannuation
· you have requested that
employment. death benefit, or reasons will be provided for the delay
your employer become a
of a resolution for either type of complaint within each
participating employer
respective time frame.
· you have requested that
your employer makes a However, if you are not satisfied with either the way
contribution on your behalf
Hostplus handles your complaint or its resolution, you
and your employer is not a
may contact the Australian Financial Complaints Authority
participating employer
(AFCA). AFCA provides free, fair and independent financial
· Hostplus is the nominated
services complaints resolutions to Hostplus members and
super fund in your
their beneficiaries.
employment agreement
or award.
Although you are able to refer the matter to AFCA at any
How to join time, they will not usually deal with your complaint until it
You will become a member You can join online at has been through Hostplus’ complaints handling process.
as soon as we receive your hostplus.com.au
You can contact AFCA via:
employer’s contribution on
your behalf.
Website: afca.org.au
Email: [email protected]
Telephone: 1800 931 678
In writing to:
Australian Financial Complaints Authority,
GPO Box 3, Melbourne VIC 3001
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130
9.3 Cooling-off period Hostplus Personal You should read our privacy policy for more detailed
Super Plan information. Our privacy policy also provides information
about how you can access and correct your information,
To ensure you are happy with your decision to open a
as well as how you can make a complaint about a breach
Hostplus Personal Super Plan account , you have a 14 day
of the APPs or the Privacy Act.
cooling off period to check that your account meets your
expectations. The 14-day cooling-off period starts from For more information on privacy or to obtain a copy of
the earlier of: the Hostplus privacy policy, visit hostplus.com.au/privacy
or call 1300 467 875.
· the date that you receive confirmation of your
membership in the Hostplus Personal Super Plan You can also email us at:
· five days after your application for membership in the
Hostplus Personal Super Plan has been accepted. or write to us at:
Locked Bag 5046, Parramatta NSW 2124.
If during the cooling-off period you decide the Hostplus
Personal Super Plan doesn’t meet your needs, you must You can also email us at [email protected] or
advise the trustee in writing. write to us at Locked Bag 5046, Parramatta NSW 2124.
Any contributions made into the Hostplus Personal Super Service providers
Plan during this period and any benefits which are rolled
There are a number of service providers who assist the
over or transferred into the Hostplus Personal Super Plan
trustee to deliver this product. For a full list of our service
from another super fund, retirement savings account
providers, please visit hostplus.com.au/super/about-us/
(RSA) or approved deposit fund (ADF) will need to be
governance-and-disclosures
transferred to another complying super fund, RSA or ADF
of your choice. Throughout this guide you may see references to statements
about our service providers. The service providers have
You must make this nomination to the trustee within 30
consented to these statements being included in this guide,
days of advising it that you wish to take advantage of the
and that consent has not been withdrawn.
cooling-off period. If you don’t make a choice within this
period, all amounts will be transferred to the ATO.
Please note: no insurance benefits are available to you
once you activate the cooling-off period.
9.4 Your privacy
Protecting your privacy is important to Hostplus. Under
the Privacy Act, we are required to handle your personal
information in accordance with a set of principles known
as the Australian Privacy Principles (APPs).
We collect your information to enable us to identify you,
set up your superannuation account, to keep it running
smoothly and respond to any queries or request you may
have regarding your account. The kind of information we
collect from you includes your name, date of birth, address,
tax file number and phone numbers via membership
application forms, over the phone via our contact centre,
through our online portals when you update your details
and from financial planners employed by Hostplus and
The information in this Section contains general advice only and does
authorised by Industry Fund Services Ltd (IFS),ABN 54
not take into account your personal objectives, financial situation or
007 016 195, AFSL 232514. We will also collect health needs. You should consider if this information is appropriate for you
information for the purposes of administering insurance in light of your circumstances before acting on it. You may also find
it beneficial to obtain advice from a licensed financial adviser. Past
on your account. At times we may need to disclose
performance is not a reliable indicator of future performance. For
relevant personal information to personal representative(s)
a description of the target market, please read the Target Market
which have been approved by you, in addition to external Determination (TMD), available at hostplus.com.au/ddo
organisations that help us provide product and services to While every care has been taken to ensure that the information in this
you such as our fund administrator, insurer, mail houses, document is correct, Hostplus reserves the right to correct any error
or misprint in respect of the information shown. Any updated PDSs will
lawyers, other superannuation funds and regulatory bodies,
be available on our website at hostplus.com.au.
to the extent required by law. We and our fund administrator
Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as
may also need to disclose your personal information
trustee for the Hostplus Superannuation Fund (the Fund) ABN 68 657
to overseas recipients. 495 890, MySuper No. 68657495890198.
Contents We're here to help – call 1300 467 875, 8am – 8pm, Monday to Friday or visit hostplus.com.au/contact
131
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Mail Locked Bag 5046, Parramatta, NSW 2124
Phone 1300 467 875
hostplus.com.au
Issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL 244392 as trustee for the Hostplus Superannuation Fund (the Fund)
ABN 68 657 495 890, MySuper No 68 657 495 890 198. HP1575 1024
