Hostplus allocates tax reserves to Retirement Bonus

Major industry superannuation fund, Hostplus has announced what it is describing as a “Retirement Bonus” available to members transitioning to the pension phase and remaining with the fund.
The fund announced that members who meet an eligibility criteria will “receive an additional top-up to their account when they transfer from a Hostplus accumulation or Transition to Retirement account to a Hostplus Pension account”.
Announcing the move, Hostplus chief executive, David Elia said the Retirement Bonus would support members at a pivotal stage in their retirement while also increasing equity across the fund.
“The Retirement Bonus provides eligible members with a valuable boost to their retirement savings at a key transition point, helping them make the most of their super as they move into the pension phase,” Elia said.
“We believe offering a bonus payment is a fairer way to allocate tax reserves that will no longer be required as members enter the tax-free pension phase.
“We are delighted to be able to offer this feature to our members from today,” Elia said.
The announcement said Retirement Bonus payments are calculated based on a member’s individual account balance and investment allocation over the 12 months prior to transfer.
To be eligible, members must have held a Hostplus Accumulation or TTR Account for at least 12 months, maintained their balance in eligible investment options during that time, and transferred all or part of their balance to a new Hostplus Pension Account.









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AMAFA, the new licensee of last resort!
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