Hostplus has welcomed the introduction of mandatory service standards for APRA-regulated superannuation funds announced by the federal government today.
Chief Executive Officer David Elia said the standards would provide much-needed clarity for funds and their members.
“Today’s announcement is the first step toward uplifting the performance of the entire industry by setting clear service delivery expectations and sharpening the focus on member outcomes,” he said.
“We welcome the opportunity to participate in the development of this important initiative and look forward to engaging with industry and government in due course.”
Hostplus has maintained calls for a mandatory industry code and was the first fund to commit to publishing regular service standard data in an effort to promote transparency and accountability in the industry.
“We want our members to have trust in us as stewards of their retirement savings and we believe that reporting on the volume, speed and outcomes of Hostplus’ service delivery is an important part of building that trust,” he said.
“We are proud to have led the way when it comes to service standards reporting and we will continue to publish comprehensive data on a quarterly basis as evidence of our commitment to our members”.
Hostplus’ inaugural Service Standards Report was released in December 2024 and is available here