Superannuation industrial complex or is that industry super.
Last night while Spartacus was watching the NRL grand final, he noticed that the Melbourne Storm had an unusual sponsor on their jerseys – HostPlus.
Hostplus is the industry fund for those that live and love Australian hospitality, tourism, recreation and sport – we’re proud to support the industries that make Australia great. Because we’re an industry fund, we put our members first, that’s why we keep our fees low, our insurance flexible and offer a competitive suite of investment options. Simply put, we’re dedicated to ensuring our members retire with more.
The placement of Hostplus’ logo on the back, between the player shoulder blades and above the player number suggested that they are a major sponsor. An industry super fund sponsoring a professional rugby league team. That seemed odd. So a quick visit to the interweb seemed warranted.
For those also familiar with the governance of industry super funds, their boards tend to have a generous representation of employer groups and unions. In the case of Host Plus, the 3 Employer representatives are nominees of the Australian Hotels Association and the 3 Union representatives are the nominees of United Voice.
The Australian Hotels Association (AHA):
reflects the national pulse of the hotel and hospitality industry and addresses the central issues of shared concern. AHA serves to know the times and influence and shape the future. AHA does this by observing political, economic, social, technological, environmental and legislative trends.
Don’t you love it: serves to know the times and influence and shape the future. Shape the future.
The AHA also has corporate partner. It is difficult to understand what the purpose of a “Corporate Partner” of an industry association is, but guest who is also a corporate partner of the AHA? If you guessed Hostplus, take a beer out of petty cash. Oh and guess who is also a “Corporate Partner” of the AHA – ME Bank – the bank that is owned by …. Industry super funds of which Hostplus is one.
But wait. There’s more.
United Voice is a nice benign and prosaic name for the union representing hospitality, health and aged care, children services, property services and manufacturing workers. Apparently, United Voice is:
a union of workers organising to win better jobs, stronger communities, a fairer society and a sustainable future.
With employers and unions work together, the outcomes for workers are always good. Just ask the Cleanevent workers.
Interesting also that the Independent Chairman of Host Plus is Mr David Elmslie.
On its website, Host Plus lists one of Mr Elmslie’s professional experiences as being Chief Operating Officer International business for Crown Limited (2008-2010). Hmmm. Is not Crown Resorts Melbourne Storm’s major jersey sponsor?
On its website:
Hostplus is the industry fund for those that live and love Australian hospitality, tourism, recreation and sport.
It would be interesting to see how Hostplus would be governed and what they sponsor if:
Hostplus was the industry fund for the benefit of its members.
I wonder. Hmmmm.
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