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Hostplus has surpassed 2 million members in a major milestone that strengthens the fund's ability to translate scale into tangible member benefits, including a more than 40% decrease in pension administration fees.
As a profit-to-member fund with more than $160 billion in funds under management, Hostplus is using its scale to help members keep more of their money through lower fees while continuing to invest in the products, services and support that improve retirement outcomes.
Chief Executive Officer David Elia AM said reaching 2 million members was an important milestone because it strengthened the fund’s ability to keep delivering value for members.
“Scale matters because it gives us the leverage to deliver tangible benefits for members. It's not about size for the sake of size, it's about what scale enables us to do for the people we serve,” Mr Elia said.
“For our accumulation members, one of those benefits has long been our ability to offer a flat member administration fee of just $1.50 per week, rather than a percentage-based administration fee, and to keep that fee unchanged for almost two decades.
“Now, as we surpass 2 million members, we're able to extend those benefits to pension members through a reduction in our pension administration fee.”
From 30 September 2026, Pension and Transition to Retirement members will save around $104 a year as administration fees reduce from $4.50 to $2.50 per week, delivering a combined annual saving of approximately $3.7 million across all eligible members.
“Where scale creates opportunities to reduce costs sustainably, we aim to return those savings to members, allowing them to keep more of their money invested for retirement,” Mr Elia said.
Members using Hostplus’ Choiceplus direct investment option will also benefit from the fund’s growing scale from 30 September, with the Portfolio Administration Fee reducing from $168 to $150 per annum and brokerage costs decreasing under a new tiered pricing structure.
“Just as importantly, growth allows us to keep investing in practical support that helps members make informed decisions as they approach and navigate retirement,” Mr Elia said.
“Our enhanced retirement calculators, launching later this month, are a good example. They are designed to give members a clearer picture of where they are now, what they may need in retirement, and the steps they can take to get there.
“As our scale grows, we can continue reinvesting in tools, digital services and support that make it easier for members to engage with their super and plan for retirement with confidence.”
The fee reductions will apply automatically from 30 September, with no action required from eligible members.