Add new comment

1. SInce when is 3% fee acceptable? That's very high. All those funds should roll the funds to a bank owned funds that can be under 1%.
2. Why did they also amend the legislation so that insurance under 25 was still opt out. Think of how much young members are paying for something they never asked for. And think of how much commission (sorry, profit sharing) he funds receive from those in force premiums.
3. 41% of Hostplus members have a balance under $10,000. They have something like 1,300,000 members so 533,000 members paying $78 flat fee that goes to general revenue will be lost. That is a sum of $41,574,000 p.a. Under trustee responsibilities shouldn't they have addressed / consolidated those accounts earlier.