QHA_Sep-2020_Online

SUPERANNUATION
with Brendan O’Farrell
EMBRACING THE HOSPITALITY
INDUSTRY WITH FRESH EYES
It’s very apparent that Queenslanders have really
missed the hospitality industry.
In recent months, as hospitality venues have reopened,
many reserved tables have been maxed out and hotels
and accommodation booked up across the state.
We’re all relishing the chance to eat out and visit new
places away from home!
If COVID-19 has taught us anything, it’s just how much
the hospitality industry contributes not only to our
economy, but also to our sense of community. It’s not
just the food, the drinks or the exceptional service.
This wonderful industry gives Australians a chance to
catch up with the important people in their lives, to
celebrate the major milestones and to keep in touch
with the larger community.
The impacts of COVID-19 have had similar effects
on many aspects of our lives. The consequences of
lockdowns mean that we’re all looking at everyday
things with a new appreciation. Intrust Super has seen
this first-hand in the perception of superannuation
among many hospitality staff. Super has become more
tangible and real. Many of your staff understand it
more, they might know how much they have, and what
fund they’re with. More importantly, they understand
the importance of super as a financial asset.
This month, superannuation statements will be starting
to hit inboxes, and I imagine your staff will be looking
at their balance with renewed interest. They might
notice that the value of their super has dropped. This
could be a result of several factors related to the
pandemic. Some of your staff may have made the
difficult decision to withdraw due to financial hardship.
For many, this was a necessary step to help them
survive through the shutdown period and beyond, but
the impact on retirement savings could be significant.
The market volatility may have had an impact on their
balances as well. Some staff may now be feeling
concerned about their ability to rebuild their retirement
savings after the pandemic.
We believe that all hospitality workers should have the
opportunity to understand their super and improve
their financial outcomes. Intrust Super is offering a
free Super Health Check for all QHA members’ staff,
regardless of their current super fund. The Super
Health Check will consider fees, review investments
and check insurance cover.
These health checks are completely free, and your
staff can organise a time with our team that suits them
directly. If you’d like us to arrange this service for your
staff, please get in touch – just email
service@intrust.com.au. Now more than ever, Intrust
Super is at your service.
IF COVID-19 HAS TAUGHT US ANYTHING, IT’S JUST HOW MUCH THE HOSPITALITY INDUSTRY
CONTRIBUTES NOT ONLY TO OUR ECONOMY, BUT ALSO TO OUR SENSE OF COMMUNITY.
QHA REVIEW | 28
The opinions expressed in this column are my own and do not necessarily represent the view of Intrust Super.
The information contained in this document and the services referred to are of a general nature only, and does not take into account your
individual financial situation, objectives and needs. You should consider the appropriateness of the general information having regard to your
own situation before making any investment decision. For personal advice, please contact the Intrust360° financial advice team on 1300 001
360. A Product Disclosure Statement is available at www.intrust.com.au or call us on 132 467 for a copy.
Issued by IS Industry Fund Pty Ltd | MySuper Unique Identifier: 65704511371601 | ABN: 45 010 814 623 | AFSL No: 238051 | RSE Licence
No: L0001298 | Intrust Super ABN 65 704 511 371 | SPIN/USI: HPP0100AU | RSE Registration No: R100439