HESTA superannuation | Performance, features and fees
HESTA is an industry super fund with several ready-made investment options including a MySuper product and a sustainable option.
HESTA Conservative claimed the top spot in the conservative category this year. The annual fees for this fund amount to $362 on a $50,000 balance. HESTA Conservative has provided an annual average of 5.45% over the past 10 years and 4.28% over the past 5 years.
HESTA super performance returns and fees
You'll be invested in the Balanced Growth (MySuper) option when you join HESTA. After joining the fund, you can switch to any of the following ready-made or sector-specific investment options.
What are the key features of HESTA superannuation?
- Industry super fund. HESTA is an industry fund meaning all profits go back into the fund to benefit members, not shareholders. Industry funds have a reputation for having strong performance returns and low fees.
- Aligned to the health sector. HESTA is dedicated to the health and community services sector and open to all Australians.
- MySuper product available. HESTA's default MySuper-authorised investment option is the Balanced Growth product. MySuper products are no-frills, low-fee options designed to suit most Australians.
- Up to 10 different investment options. Members can choose from 10 different ways to invest their super, based on their risk tolerance and how hands on they want to be. This includes ready-made, diversified investment funds and sector-specific options that are more concentrated on a particular asset class.
- Sustainable investment option available. HESTA offers a sustainable investment option, Sustainable Growth, for members who want their super to be invested more ethically.
- Insurance fee-free cover while on parental leave. Parents can be eligible for up to 12 months of fee-free insurance cover while on parental leave.
- Two income stream options. When you're ready to start accessing your super, you can access a Transition to Retirement (TTR) Income Stream or a Retirement Income Stream to receive regular payments from your super while the balance remains invested.
What are the different HESTA investment options?
The table above shows the performance returns and fees for each of the investment options. Here's a bit more information on how each option differs.
Ready-made investment portfolios
|Ready-made investment options||Risk level||Investor type||Asset allocation|
|Balanced Growth (MySuper default option)|
This is the default investment option which all members will be placed in if you don't choose a different option after joining. It's designed for growth over the medium to long term. It has around 70% allocation to growth assets including local and international shares, private equity and property.
This option has the lowest risk level of all the ready-made options, with around 64% allocation to defensive assets including cash and bonds. It's designed for investors with a shorter investment timeframe (e.g.: if you're closer to retirement).
|Indexed Balanced Growth|
This option is designed to achieve growth over the medium to long term while lowering the costs of investing. It has around 75% allocation to growth assets, designed to match index returns.
This option is the highest risk level of all the ready-made options, with around 89% allocation to growth assets including local and international shares. It's designed for higher growth over the long term, and is suited for investors with a longer investment timeframe.
This option has a similar asset allocation to the Balanced Growth and Indexed Balanced Growth options, with 73% allocation to growth assets including shares and property. However unlike the other options, this one excludes investment in tobacco, fossil fuels, uranium and weapon manufacturing.
Your Choice investment options (single sector options)
The Your Choice options are for more experienced investors who are comfortable being in control of their asset allocations, and investors who want to be more hands-on with their super. You can choose from seven asset classes, as detailed below, and split your super balance between them as you wish.
|Asset class||Risk level||Asset allocation|
|Cash and Term Deposits||Very low|
|Property and Infrastructure||Medium to High|
|International shares||Very High|
|Australian shares||Very High|
What insurance cover is available with HESTA super?
Automatic death and income protection cover is applied to your account when you join. You can opt out of this if you wish when you join, or cancel at any time after your account is opened. You can also tailor it to better suit your needs. You can also apply for lump-sum total and permanent disablement (TPD) cover if you wish.
How do I join HESTA?
If you've decided that HESTA's super account is right for you, you can apply online by filling out the application form.
You will need to supply:
- Personal details. You'll need to provide your personal contact details including your Australian residential address.
- Previous super fund details. If you'd like to consolidate an existing super fund with your new fund online, you will need to provide your current fund details.
After joining you will need to select:
- Investment option. You'll be invested in the Balanced Growth (MySuper) option when you join HESTA. After joining the fund, you can switch to any of the following ready-made or sector-specific investment options.
- Insurance instructions. You'll be asked if you'd like to opt out of or tailor the default insurance policies.
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