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.
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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 75% allocation to growth assets including local and international shares, private equity and property. | Medium to High | Ambitious |
|
| Conservative This option has the lowest risk level of all the ready-made options, with around 61% 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). | Low to Medium | Cautious |
|
| 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. | High | Ambitious |
|
| High Growth This option is the highest risk level of all the ready-made options, with around 90% 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. | High | Very ambitious |
|
| Sustainable Growth This option has a similar asset allocation to the Balanced Growth and Indexed Balanced Growth options, with 75% 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. | High | Very ambitious |
|
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 |
|
| Diversified bonds | Low to Medium |
|
| Property and Infrastructure | Medium |
|
| International shares | 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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Ask an Expert
I just logged on to Mygov to realise that I have two super funds, Hesta being one of them. Do you have capacity on your website to compare Hesta with other specific super funds?
Hi Jodie,
Thanks for your question.
Yes, aside from Hesta, you can compare other super funds using our comparison table. You may compare them in terms of Past Performance (1,3, and 5 years) and Calculated fees per annum on $50,000 balance.
If you click the More Info link, it will redirect you to another page dedicated to that particular super fund where you will find more details such as features and steps to apply. Once you have chosen a particular super fund, you may then click on the “Go to site” button and you will be redirected to their website where you can get in touch with their representatives for further inquiries you may have.
When choosing a super fund, I encourage you to review their Product Disclosure Statements and Terms & Conditions to see if it is the right option for you.
Cheers,
May