Our  

remuneration 
policy

Job interview with young woman

Hostplus is run to benefit our members, and does not pay dividends to shareholders or sales commissions to financial planners. Our focus is on providing our members with the best-quality superannuation services at competitive prices.

As such, our remuneration policy is designed to encourage superior performance and long-term commitment to Hostplus from all staff, with our objective being to remunerate fairly and equitably so we can provide a quality service to our members. 

Our remuneration policy is also informed by our guiding principles and philosophy and applies to directors, officers and all Hostplus employees.

If there’s something you can’t find here, don’t hesitate to call us on 1300 467 875. We’re available to assist with any enquiries Monday to Friday, 8am - 8pm AEST/AEDT. 

Our position on remuneration

Our remuneration policy is designed to encourage superior performance from our staff.

Simplicity. Consistency. Equality. Fairness. Alignment with values. Appropriate risk behaviour. Transparency. 

We believe remuneration should:

  • facilitate the delivery of superior long-term results for the business
  • promote sound risk management principles
  • support the corporate values and desired culture
  • attract, retain, motivate and align the talent we need to achieve our business goals
  • reinforce leadership, accountability, teamwork and innovation
  • align with the contribution and performance of the business, teams and individuals.

Our remuneration practices have regard to general market conditions, with a focus on what is happening within the financial services, and more specifically, the superannuation sector.  

All remuneration-related matters are to be determined and approved by the Board’s People and Remuneration Committee. The People and Remuneration Committee is accountable for exercising its responsibilities in line with its Charter.

Hostplus remuneration details

Remuneration, in the form of director fees for Board members, are considered by the People and Remuneration Committee which makes recommendations to the Board. Remuneration is reviewed annually, generally in May/June, with any changes to be made effective from 1 July in that year.

Year ended 30 June 2023
NameDirector fee (salary) ($)Parking benefits ($)Superannuation ($)Termination benefits ($)Total ($)
Independent Directors

D Frawley

191,070

-

27,500

-

218,570

A Grayson

129,443

-

19,417

-

148,860

J Whiting

147,169

-

22,075

-

169,244

Employer nominated

C Laundy

135,086

-

20,263

-

155,349
D Attenborough 123,003 -18,450 -141,453

D Gibson

136,225

-

20,434

-

156,659

B Kearney20,747-3,112-23,859
Member nominated
T Lyons
166,034-24,905-190,939
I Beynon (a)105,277-15,792-121,069
G Bullock (a)87,551-13,133-100,684
B Myers (a)69,421-10,413-79,834
 Total1,311,026-
195,494-1,506,520

(a) The Director Fee (Salary) in relation to the services provided by this Director is paid to their nominating association United Workers Union. 

Year ended 30 June 2022
NameDirector fee (salary) ($)Parking benefits ($)Superannuation ($)Termination benefits ($)Total ($)
Independent Directors

D Elmslie

191,070

10,013

27,500

-

228,583

A Grayson

129,443

-

19,417

-

148,860

J Whiting

147,169

-

22,075

-

169,244

Employer nominated

C Laundy

126,577

-

18,986

-

145,563
 D Attenborough 123,003 -18,450 -141,453

D Gibson

138,537

-

20,781

-

159,318

B Kearney20,747-3,112-23,859
Member nominated
T Lyons
166,034-24,905-190,939
I Beynon (a)105,277-15,792-121,069
G Bullock (a)58,367-8,755-67,122
B Myers (a)81,373-12,206-93,579
R Buckler11,996-1,799-13,795
 Total1,299,59310,013193,778-1,503,384

(a) Director fees and/or superannuation for these individuals are paid to their nominating association United Workers Union or AHA

Year ended 30 June 2021
NameDirector fee (salary) ($)Parking benefits ($)Superannuation ($)Termination benefits ($)Total ($)
Independent directors
D Elmslie182,0109,65725,000-216,667
P Collins113,736-17,060-130,796
A Grayson113,736-17,060-130,796
Employer nominated
M Robertson (a)     118,423-17,764-136,187
 D Gibson118,031-17,705-135,736
M Vaile97,711-14,657-112,368
N Randall25,095-3,764-28,859
Member nominated
T Lyons128,583-19,287-147,870
B Myers (a)97,711-14,657-112,368
I Beynon (a)36,480-5,472-41,952
J Hill51,072-7,661-58,733
R Buckler35,987-5,398-41,385
 Total1,118,5759,657165,485-1,293,717

(a) Director fees and/or superannuation for these individuals are paid to their nominating association United Workers Union or AHA

Year ended 30 June 2020
NameDirector fee (salary) ($)Parking benefits ($)Superannuation ($)Termination benefits ($)Total ($)
Independent directors
D Elmslie182,0109,45525,000-216,465
P Collins113,735-17,060-130,795
A Grayson113,735-17,060-130,795
Employer nominated
M Robertson (a)118,423-17,763-136,186
D Gibson118,031-17,705-135,736
M Vaile97,711-14,657-112,368
N Randall25,095-3,764-28,859
Member nominated
T Lyons
130,280-19,542-149,822
B Myers (a)97,711-14,657-112,368
J Hill87,551-13,133-100,684
R Buckler35,987-5,398-41,385
Total1,120,2699,455165,739-1,295,463

(a) Director fees for these individuals are paid to their nominating association United Workers Union or AHA.

Year ended 30 June 2019

Name

Director fee (salary) ($)

Parking benefits ($)

Superannuation ($)

Termination benefits ($)

Total ($)

Independent directors

D Elmslie

177,174

9,142

26,576

-

212,892

P Collins

111,944

-

16,792

-

128,736

A Grayson

104,445

-

15,667

-

120,112

Employer nominated

M Robertson (a)

116,559

-

17,484

-

134,043
D Gibson116,172-17,426-133,598

M Vaile

91,173

-

13,676

-

104,849

N Randall37,811-5,672-43,483
Member nominated
T Lyons
128,297-19,245-147,542
B Myers (a)91,173-13,676-104,849
J Hill86,172-12,926-99,098
R Buckler35,420-5,313-40,733
Total1,096,3409,142164,453-1,269,935

(a) Director fees for these individuals are paid to their nominating association United Voice or AHA.

The People and Remuneration Committee has the delegated authority to:
  • determine remuneration matters of the Hostplus Group Executive Team
  • consider and make recommendations to the Board on all remuneration matters concerning Directors and the CEO and all agreements proposed to be made under relevant industrial legislation (e.g. enterprise agreements). 

Base or fixed salary reviews for Group Executives occur annually, generally in May/June, with increases payable from 1 July in that year. Increases for Group Executives, with the exception of the CEO, in excess of the express terms and conditions of the Enterprise Agreement, are subject to People and Remuneration Committee approval.

The Chairman, on behalf of the Board, conducts the performance assessment of the Chief Executive Officer, having regard to objectives set in the previous year including setting objectives for the coming year. The Board, as a whole, discusses the outcome in the absence of the Chief Executive Officer which is then communicated to the Chief Executive Officer.

The Chief Executive Officer conducts the performance assessment for each member of the Group Executive Team, having regard to the operational and financial responsibilities of the Group Executive and the contribution by the Group Executive to the management and leadership of the business.

Year ended 30 June 2023

Name

Date commenced

Date change in position

Salary

Short-term
incentives

Parking
benefits

Super-
annuation

Termination
benefits

Total

($)

($)

($)

($)

($)

($)

D Elia

15/03/1999

 

1,028,576

492,069

10,373

27,500

-

1,558,518

N Brouwer

21/11/2016

25/01/2023 (a)

225,700

-

5,905

16,188

-

247,793

K Cantwell10/10/2016 300,938103,33210,37327,500-
442,143

S Fuller

06/02/2023

06/02/2023 (b)

91,406

-

4,189

8,858

-

104,453

U Mecchi

07/02/2022

 

375,997

-

10,373

27,500

-

413,870

J Muir

04/04/2022

26/01/2023 (c)

160,462

-

3,425

11,846

-

175,733

S Sicilia

31/03/2008

 

760,000

488,973

10,373

27,500

-

1,286,846

N Strickland

17/02/2014

 

326,640

108,388

10,373

27,500

-

472,901

L Tassone

19/08/2013

10/11/2022 (d)

402,118

142,114

10,373

27,500

-

582,105

P Watson21/03/2011  423,166162,39110,37327,500 -623,430

S Wilkinson

16/11/2015

 

369,610

138,599

10,373

27,500

-

546,082

Total



4,464,613

1,635,866

96,503

256,892

-

6,453,874

(a) Resignation
(b) Appointed as Group Executive – Legal & Compliance
(c) Appointed as Chief Risk Officer
(d) Position changed from Group Executive – Finance & Technology to Group Executive – Finance, Techology & Investment Operations

In addition to the remuneration outlined in the table above, N Strickland cashed-out accrued leave entitlements equal to $12,663 and N Brouwer was paid-out accrued leave entitlements equal to $105,686 upon resignation.

Year ended 30 June 2022

Name

Date commenced

Date change in position

Salary

Short-term
incentives

Parking
benefits

Super-
annuation

Termination
benefits

Total

($)

($)

($)

($)

($)

($)

D Elia

15/03/1999

 

978,636

323,863

10,013

27,500

-

1,340,012

M Abramovich

01/06/2021

25/02/2022 (a)

374,016

-

6,584

24,856

-

405,456

N Brouwer

21/11/2016

21/02/2022 (b)

223,156

43,286

3,566

27,500

-

297,508

K Cantwell

10/10/2016

02/05/2022 (c)

285,515

37,578

10,013

27,500

-

360,606

U Mecchi

07/02/2022

07/02/2022 (d)

136,610

-

3,950

11,106

-

151,666

S Sicilia

31/03/2008

 

723,005

354,812

10,013

27,500

-

1,115,330

N Strickland

17/02/2014

 

250,836

40,749

10,013

27,500

-

329,098

L Tassone

19/08/2013

 

363,750

57,118

10,013

27,500

-

458,381

P Watson21/03/2011  401,79861,87710,01327,500 -501,188

S Wilkinson

16/11/2015

01/07/2021 (e)

350,779

56,730

10,013

27,500

-

445,022

Total



4,008,101

976,013

84,191

255,962

-

5,404,267

(a) Parental leave contract position ended
(b) Returned from parental leave
(c) Position changed from Group Executive – Administration Optimisation to Group Executive – Administration Optimisation, Service & Insurance
(d) Appointed as Group Executive – Corporate Affairs, Stakeholder Management, Policy & Advocacy
(e) Position changed from Group Executive – Strategy, Transformation & Services to Group Executive – Strategy &a Transformation

In addition to the remuneration outlined in the table above, N Brouwer and N Strickland cashed-out accrued leave entitlements equal to $5,738 and $11,739, respectively.

Year ended 30 June 2021

Name

Date commenced

Date change in position

Salary

Short-term
incentives

Parking
benefits

Super-
annuation

Termination
benefits

Total

($)

($)

($)

($)

($)

($)

D Elia

15/03/1999

 

968,862

197,964

9,657

25,000

-

1,201,483

M Abramovich

01/06/2021

01/06/2021(a)

23,145

-

794

2,885

-

26,824

A Antonellos

23/10/2000

28/09/2020(b)

248,573

54,347

7,303

18,519

-

328,742

N Brouwer

21/11/2016

30/04/2021(c)

347,778

55,335

8,043

25,000

-

436,156

K Cantwell

10/10/2016

 

255,196

39,407

9,657

25,000

-

329,260

S Sicilia

31/03/2008

 

682,443

223,492

9,657

25,000

-

940,592

N Strickland

17/02/2014

 

256,985

41,559

9,657

25,000

-

333,201

L Tassone

19/08/2013

28/09/2021(d)

344,410

56,373

9,657

25,000

-

435,440

P Watson21/03/2011   405,26357,7119,65725,000  -497,631

S Wilkinson

16/11/2015

 

360,201

23,752

9,657

25,000

-

418,610

Total



3,892,856

749,940

83,739

221,404

-

4,947,939

(a) Appointed as Group Executive – Risk, Compliance & Legal
(b) Appointed as Group Executive – Client Relationships & New Business and held the position until 30 June 2021
(c) Commenced maternity leave
(d) Position changed from Group Executive, Finance, Technology & Operations to Group Executive, Finance & Technology

In addition to the remuneration outlined in the table above, A. Antonellos cashed-out accrued leave entitlements equal to $38,956.

Year ended 30 June 2020

Name

Date commenced

Date change in position

Salary

Short-term
incentives

Parking
benefits

Super-
annuation

Termination
benefits

Total

($)

($)

($)

($)

($)

($)

D Elia

15/03/1999

 

899,048

221,979

9,455

25,000

-

1,155,482

N Brouwer

21/11/2016

 

347,269

53,162

9,455

25,000

-

434,886

K Cantwell

10/10/2016

18/02/2020(b)

248,827

40,879

9,455

25,000

-

324,161

S Sicilia

31/03/2008

 

632,946

227,013

9,455

25,000

-

894,414

N Strickland

17/02/2014

 

236,716

25,956

9,455

25,000

-

297,127

L Tassone

19/08/2013

18/02/2020(c)

318,346

43,264

9,455

25,000

-

396,065

 P Watson21/03/2011   339,05641,3409,45525,000  -414,851

S Wilkinson

16/11/2015

18/02/2020(a)

112,295

575

1,938

8,558

-

123,366

Total



3,134,503

654,168

68,123

183,558

-

4,040,352

(a) Appointed as Group Executive - Strategy, Transformation and Services
(b) Position changed from Group Executive - Service Operations to Group Executive - Administration Optimisation
(c) Position changed from Group Executive - Finance, Strategy and IT to Group Executive - Finance, Technology & Operations

In addition to the remuneration outlined in the table above, D. Elia, N. Strickland and L. Tassone cashed-out accrued leave entitlements equal to $173,173, $3,395 and $28,340, respectively.

Year ended 20 June 2019

Name

Date commenced

Date change in position

Salary

Short-term
incentives

Parking
benefits

Super-
annuation

Termination
benefits

Total

($)

($)

($)

($)

($)

($)

D Elia

15/03/1999

 

822,942

231,972

9,142

25,961

-

1,090,017

N Brouwer

21/11/2016

 

307,915

36,353

9,142

25,000

-

378,410

K Cantwell

10/10/2016

 

267,125

39,359

9,142

25,000

-

340,626

 U Mecchi28/11/2011 7/12/2018(b)178,62453,0892,88413,461-248,058

S Sicilia

31/03/2008

 

589,977

343,505

9,142

25,000

-

967,624

N Strickland

17/02/2014

 

180,680

32,406

9,142

27,772

-

250,000

L Tassone

19/08/2013

17/10/2018(a)

195,115

-

6,258

17,115

-

218,488

P Watson21/03/201117/10/2018(c)315,83332,8439,14225,000-382,818

Total

 

 

2,858,211

769,527

63,994

184,309

-

3,876,041

(a) Appointed as Group Executive – Finance, Strategy and IT
(b) Resigned as Chief Marketing Officer
(c) Position changed from Group Executive – Retirement Solutions & Advice to Group Executive – Member Experience

In addition to the remuneration outlined in the table above, D. Elia, N. Brouwer, U. Mecchi and N. Strickland cashed-out accrued leave entitlements equal to $95,192, $31,377, $207,442 and $12,733, respectively.

Further information

The People and Remuneration Committee is responsible for regularly reviewing the remuneration policy and as appropriate, making recommendations to the Board. This includes an assessment of the policy’s application, effectiveness and compliance with the requirements of APRA’s Prudential Standard SPS 510: Governance.

The People and Remuneration Committee reviews the policy annually to ensure it continues to meet its intended purpose and to identify any material deviations of remuneration outcomes.

The Committee’s responsibilities are set out in the People and Remuneration Committee’s Charter and extend to:

  • approving the staff benefits that have significant monetary impacts
  • setting fixed remuneration annual review parameters and outcomes
  • setting maximum variable remuneration
  • deciding participation in variable remuneration plans
  • reviewing overall short-term incentives (STIs) allocations
  • approving any proposal for a sign on, retention or termination payment.

Hostplus offers variable remuneration in the form of STIs to the CEO and to members of the Group Executive Team. At its discretion, the Board may implement a variable remuneration scheme for non-executive staff based on individual performance, but linked to overall performance of the Fund.

CEO and Group Executive Team – participation is subject to People and Remuneration Committee approval and Board endorsement.

STIs are discretionary, performance-based remuneration designed to drive and reward short-to-medium term results, reflecting the level of risk. This includes financial and non-financial results and metrics at an organisation, department, team and individual level.The STI plan is set at the start of each financial year, with the conditions attached to the specific individual plans and objectives to be met.

Any sign-on, retention or termination payments not set out in the employment contract are to be approved by the People and Remuneration Committee.

All Group Executives at Hostplus may resign from their employment by giving Hostplus three (3) months’ notice in writing. The relevant Group Executive and Hostplus may agree on a lesser notice period, or Hostplus may, at its discretion, waive the notice period. Hostplus may terminate their employment and in such circumstances Hostplus must provide them with three (3) months’ notice in lieu. 

In addition, Hostplus may terminate their employment at any time, without notice, if, in the opinion of Hostplus, they engage in serious misconduct, serious neglect of duty, or serious breach of any of the express or implied terms of their employment contract. In such circumstances they would be entitled to payment of their normal salary and benefits up to the date of termination only.

Details of the remuneration paid to our Responsible Persons are set out above.

Hostplus is committed to creating and sustaining a diverse and inclusive workforce which embraces a wide range of perspectives, backgrounds and life experiences.

We strive to create a workplace culture that supports our people to thrive, innovate and equally contribute to the success of our organisation.

We believe this approach fosters a dynamic and productive workplace but also helps us to more effectively connect with, and service, the diversity of members we represent. 

One way we do this is through the employee leave benefits we offer to our team, such as our parental leave policy that includes 18 weeks company paid primary carer parental / adoption leave.  

In addition, Hostplus continues to provide employee superannuation contributions for the duration of a parental absence up to 12 months to ensure employees who want to start a family aren’t worse off in retirement.  

We are proud of these benefits, along with the fact that our gender pay gap is lower than our industry comparison group. 

Our Diversity, Equity and Inclusion Strategy, which was approved by our Board in October 2022, underpins the ongoing program of work we are undertaking in this area with the aim of better understanding the drivers and actions required to address gender equality issues at Hostplus.  

The implementation of this strategy is well underway. The strategy incorporates an analysis of our current gaps, setting more ambitious targets, and identifying recommendations for enhancements to our current Recruitment and Selection Policy and practices. These include:  

  • The ongoing implementation of a pay rebalancing program that identifies and removes gaps between like-for-like roles.   
  • The development of an Attraction and Retention Strategy with a targeted pipeline of activities to support the growth of high potential women.  
  • A greater focus on gender equality in succession planning and extending this across the organisation, to develop stronger talent development opportunities.  

The Hostplus Board and executive leadership team remain committed to progressing this work and will continue to prioritise outcomes that ensure the value and contribution that women make at Hostplus is reflected through equal pay and strong diversity and inclusion practices.