• HOSTPLUS
About Updated 29 October 2011

Our industry heritage

HOSTPLUS was set up in 1987 by the Australian Hotels Association (AHA) and United Voice as the industry superannuation fund for hospitality, tourism, recreation and sport.

What is an industry fund?

Did you know that superannuation contributions only became compulsory for employers to make on behalf of their employees in 1992? 

Before that, industry super funds were set up by unions and employers to manage the super contributions usually included in industrial awards.

As an industry fund we possess an unshakeable ‘members first’ philosophy. Industry funds are created to look after the interests of employees and are run to benefit members (not shareholders).

Industry funds usually have lower fees than retail funds and don’t pay commissions to financial advisers or accountants. They have a history of above average long-term investment performance and focus on innovative investment options. 

All of this really just means that members of industry funds, like HOSTPLUS, generally enjoy greater benefits.

Our super timeline

1850

Superannuation first starts in Australia with large companies and governments paying private pensions to only senior, long-serving employees.

1890

State Pension Scheme introduced.

1909

Commonwealth Pension Scheme introduced (Aged Pension).

1950s

Superannuation still provided as a reward for long service. 

Private sector employers set up their own company administered funds. 

Some superannuation restricted to permanent male executives.

1960s

Tax concessions for the self-employed.

1980s

The first industry funds were established through union negotiations with employers to make superannuation contributions for all employees. 

Start of productivity bonuses in awards spurs emergence of more industry funds. 

1986 

Compulsory superannuation was included in industrial awards.

1987

HOSTPLUS established by AHA and LHMU (now United Voice) as the industry super fund for hospitality, tourism, recreation and sport industries. 

1990s 

Member Investment Choice introduced.

1992

Superannuation Guarantee law introduced, which made it compulsory for all employers to make super contributions for all employees.

2000s

Compliance overload prompts many employers to outsource their in-house corporate super funds to either master trusts or industry funds

2003

Introduction of Financial Sector Reform Act. David Elia appointed to HOSTPLUS CEO.

2004

Trustee licensing introduced, disclosure rules toughened. 

HOSTPLUS wins SuperRatings Rising Star Award.

2005

Super Choice gives employees outside the hospitality, tourism, recreation and sport industries the freedom to choose HOSTPLUS as their super fund rather than whichever fund their employer’s chose on their behalf.

2007

HOSTPLUS in-house Contact Centre established. 

We join forces with Scott Pape, the Barefoot Investor to create an innovative financial literacy program to help members achieve their financial goals. 

First MORE magazines created to inspire members to get more out of their super.

2009

HOSTPLUS achieves an unexpected trifecta by receiving SuperRatings Fund of the Year and Money magazine’s Best of the Best awards for Best Super Fund manager for the third consecutive year.

HOSTPLUS joins Twitter.

The year HOSTPLUS announced the release of the HOSTPLUS Pension Plan, so members can continue to enjoy the benefits of HOSTPLUS even after they retire. 

2010

Government releases Cooper Review into Superannuation. 

HOSTPLUS and ME Bank join forces to open a co-branded retail branch, Super Banking. Situated in the Pacific Fair Shopping centre, Gold Coast, providing members with both super and daily banking requirements in a face to- face environment. 

HOSTPLUS won BRW’s Fast 100 award for the Fastest Growing Private Business of the year coupled with an ASFA Super Innovator of the Year and Excellence in Member Communication awards. 

Our inaugural Cook for Your Career competition helps aspiring chefs get a foot in the door at Australia's top restaurants.

2011

HOSTPLUS offers limited financial advice online via Super Adviser. 

Our CEO creates his Twitter account. 

Our new website is launched. 

Related links

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C4YC on facebook

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