HESTA superannuation | Performance, features and fees
An industry super fund with several investment options, competitive fees and an authorised MySuper product.
HESTA is an industry super fund dedicated to the health and community services sector and open to all Australians. As an industry fund, all its profits go to members, not shareholders. If you’d like your superannuation managed for you, you can choose from four main investment pools and let HESTA do the rest. Or, if you’d like more control, you can choose your own investment strategy from a range of asset classes.
Past performance - 1 year
Past performance - 5 Years
Calculated fees p.a. on $50,000 balance
We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .
Performance figures quoted on this page are correct to June 2020, according to Chant West. Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.
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.
- MySuper product available. HESTA offers a default MySuper authorised investment option. MySuper products are no-frills, low-fee options for Australians.
- Up to 11 different investment options. Members can choose from 11 different ways to invest their super, based on their risk tolerance and how hands on they want to be.
- Sustainable investment option available. HESTA offers a sustainable investment options, Eco Pool, 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 investment options are available?
HESTA offers several different ways to invest, depending on your risk appetite and how involved you want to be. You can choose between four pre-made investment pools which offer ready made diversified investment options that are managed on your behalf. Or, you can choose between a range of single asset options to design your own investment portfolio. The past performance figures as well as asset allocation for each investment option are detailed below.
What are the fees and charges?
With HESTA, you do not pay any entry fees, account set-up fees or exit fees, nor do you pay any fees for buy-sell spreads. You can also switch investment options at any time for free.
Example of annual fees based on $50,000 in the Core Pool (default option)
Annual admin fee: $76.47 plus 0.09% of balance.
Indirect cost ratio (including investment fees): 0.83%
Calculated annual cost on $50,000 balance: $538.53
*Fee data supplied by Chant West and correct as of 30 June 2019. For a more detailed breakdown of the fees and charges, including the fees and charges for alternative investment options, read the product disclosure statement (PDS) available on HESTA’s website.
What income stream options are available?
An income stream allows you to draw a regular income from your super when you're retired or close to retiring, while your balance remains invested. There are two income stream options available: a Transition to Retirement (TTR) Income Stream if you are still working or a Retirement Income Stream if you're retired. You can choose between five ready-made diversified options, or design your own investment strategy with the choice of five individual sector options.
The five diversified investment options vary in risk level and include a Balanced, Defensive, Conservative, Eco or Active option, depending on the level of risk you want to accept prior to or during your retirement. If you'd rather opt for the sector specific investment options, you can choose between Cash, Term Deposits, Property, Australian Shares and International Shares.
What insurance cover is available?
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.
You will need to select:
- Investment option. You’ll be asked to choose your investment option from those detailed above, so consider this before beginning your application. If you don't make a choice your super will be invested in the Core Pool.
- Insurance instructions. You’ll be asked if you’d like to opt out of or tailor the default insurance policies, as detailed above.