How to stay safe from sales tactics and scams

The recent news about the collapse of managed investment schemes First Guardian and Shield has left many Australians feeling anxious and uncertain about their retirement savings.   

Hostplus is saddened and alarmed by the stories emerging of hardworking Australians losing their retirement savings.  

In both cases, pressure tactics, exaggerated promises and misleading claims were used to lure individuals, some of them former Hostplus members, into transferring their hard-earned savings into the schemes. 

Hostplus is urging all members to familiarise themselves with the following potential risks and red flags when making decisions about their super.  

• Be cautious about cold calls from advisers or representatives who are not associated with your super fund. 
• Watch for red flags, such as claims that your fund is underperforming, pressure to act fast and promises of unusually high returns. 
• Check the history and performance of any investment option. 
• Never be rushed into making a decision about your super. 
• Ask your qualified and licensed adviser why a particular investment is right for you.  

At Hostplus, our first priority is to grow and protect your retirement savings. We’re an APRA-regulated super fund with a long history of strong long-term returns. The Hostplus Balanced (MySuper) option, where most Hostplus members invest, is the number one performing option over 10 and 20 years.*

If you’re ever unsure or worried about a call, email, or offer you’ve received, please reach out to us. We’re proud to offer our members the security of regulatory oversight and proven performance. If you need guidance, our financial advice services are delivered by highly trained and licensed professionals committed to helping you make confident choices.