1) Does your son need death & TPD insurance linked to a superfund at his age? There are other insurance companies that have these policies. More importantly, I would be looking at "income protection insurance", the premiums may be tax deductible. You may also need to check if "Hostplus" have slipped income protection into their super policy!
2) Who recommended "Hostplus" for his superannuation?
3) Is "Hostplus" an Industry based superfund?
4) Has the employer made the required SGC payments into the fund to to ensure sufficient funds in the account? I was of the understanding SGC payments, as a minimum, had to be made by end of January, April, July and October.I notice the letter is dated 11/04/2012, where have the SGC contributions gone for the duration from 1st January 2012????
5) As your son is still a minor in the eyes of the law, who agreed to the death & tpd insurance cover in the policy if fees have been taken out?
6) Not sure how much super he has paid, but is it worthwhile taking your issue to the ombudsman?
Finally, do not destroy any statements or correspondence from your super funds, ever!!! If something goes pear-shaped in the future, at least then you have a history to make a claim if needed.
Thanks for your post as it has highlighted another issue when entering the workforce. My kids will be looking for a part-time job soon and like many teenagers, they know diddly-squat about superannuation and entitlements.
