Below are some user reviews and opinions of Hostplus offered by regular Australians who have had there money in Hostplus.
May 20th, 2010
Pros: Every hospitality company works with it, easy to compile different jobs' supers.
Cons: Watch out for the insurances, this guys are ripping you off! They put the insurance as default, and charge it to everyone, no form to cancel the insurance on their brochures; of course there's a form to increase your insurance. I've lost almost half of my money (I only work 15hrs per week) between insurance and fees! A lot of bureaucracy to get rid of the insurance!
Overall: They are ripping you off, read EVERYTHING, reject what you don't like and be carfeul with the fees they charge (they are high!)
1 out of 5
Reviewer: rodrigo
Member since: May 20, 2010
May 17th, 2009
Pros: A good fund if you were able to pick & choose your own portfolio.
Cons: They have a lot of fees that they try to cover.
Overall: Originally I thought this was a good fund when I entered when I was employed by the hospitality industry & I signed over my other super fund into Hostplus. But after a while I realised that I had made a mistake, yes it has come across as one of the best funds but it doesn't seem to be as good as it could have been by taking too many fees, some of these companies are getting very greedy.
2 out of 5
Reviewer: EileenGarraway
Member since: May 14, 2009
April 21st, 2009
Pros: average
Cons: some fees (that go to Hostplus) are taken out of investment returns, so its not as cheap as they make out
Overall: average fund, not all its cracked up so to be take a look at the fine print in the PDS
1 out of 5
Reviewer: Guest
Pros: As above, member fund, profits to members etc, great returns (except 08 of course, looking like an `8% loss)
Cons: BEWARE! The insurance situation is a minefield and very "cloak and dagger". My statements clearly advise no insurance cover and no deductions for insurance(I no longer work in hospitality), but when I call and ask they tell me I am paying insurance and dont like to go into detais, they send you the insurance booklet which you need a PhD to wade through, not nice.
Overall: On the balance, average. Great choices, very poor insurance situation that is possibly ripping off members without them knowing about it.
3 out of 5
Reviewer: scotty71
Member since: Aug 18, 2008
June 30th, 2008
Pros: This is an "Industry Super Fund" which means that it is non profit and they don't pay commissions to brokers. There is a lot of choice within the fund. I picked the fund that put all of my money into international shares. This is not for everyone but I really liked the fact that I had a choice of how my money is being invested.
Cons: They are slow to send out forms. The life insurance that is offered as part of the fund is impossible to understand. I wanted to get life insurance but it was far too complicated.
Overall: I have been happy with host especially given that all of the profit goes back to members. In particular, I chose them because of the options for how my super is invested. They could be better at sending out forms but I have only needed forms once so it was not too much of an issue.
4 out of 5
Reviewer: gmcopi
Member since: Jun 30, 2008
October 29th, 2007
Pros: great return (as at now Oct 07), low fees, easy admin
Cons: none so far
Overall: great fund with low fees easy to deal with admin and quick to get a job done. Has been in the top 5 performers for the last five years (as at Oct 07) averaging 15% return in the capital growth choice. Very happy to see my money grow. Hope it continues only time will tell. Also the capital stable account has been performing at over 10% for the last few years as well. So overall I highly recommend the fund for anyone who wants a simple superannaution fund to deal with and good performance.
4 out of 5
Reviewer: dijoca
Member since: Sep 17, 2007
