Hostplus limits investment options

Hostplus members with a Maritime Contributory Accumulation with a Protected Minimum Benefit (PMB) account will have their investment options limited.

Effective May 8, Hostplus will limit access to three investment options: the Australian shares, international shares, and growth options.

Additionally, changes will be made to the defined benefit reserve investment strategy, switching from bespoke investments to the Conservative Balanced investment option.

"[The changes] aim to provide greater certainty that the defined benefit reserve will be available for all members of this category into the future and therefore improve the long-term outcomes of all members in this category," Hostplus said.

The super fund said the decision was made after a review into its investments with its independent actuary.

"The review found that continued access to the Australian Shares, International Shares, and Growth investment options could put pressure on the defined benefit reserve - the very reserve that helps ensure you receive your PMB, if eligible," Hostplus said.

"Based on the actuary's advice, the fund is taking responsible steps to safeguard this important safety net. By carefully limiting new investments into these three higher-risk options, we're helping to protect the reserve and support its ability to deliver on its promise to members.

"This change is about making sure the fund can continue to deliver fair and secure outcomes - not just for today, but well into the future."

Members who are already invested into one of the three options can remain there, and those who wish to switch into them can do so before May 8.

Hostplus said members who want to access the full investment option menu with no restrictions would have to waive their PMB but warned that decision cannot be reversed.