HESTA - MySuperInformation shown is for the balanced option.
What the Researchers Say:
A "best value for money" superannuation fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement savings goals.
You should contact your financial adviser or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$65|
|Administration Fee (%)||0.08%|
|Account Size Discount||No|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||Health related services|
|Offered to Public?||Yes|
Fund Highlights - provided by HESTA - MySuper
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2016||FY 2015||FY 2014||FY 2013||FY 2012||Comparison|
- Outperformed average
- Underperformed average
- Negative returns
Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2016, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.
Benchmark investment information - how performance is measured
To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.
Percentage of Growth Assets
What the researchers say
HESTA is the largest industry fund for people in Health and Community Services, with membership also open to the general public. The fund was a finalist for the 2017 MySuper of the Year award and is also Infinity Recognised, which is a result of its strong commitment to environmental and social principles.
The fund's MySuper offering comprises a single diversified investment option, Core Pool. The Core Pool option has outperformed the SuperRatings Index over the short and long term. Choice members have access to both Diversified and Single Sector options.
Fees are competitive and lower than the industry average across all account balances assessed. Members are able to switch investment options and make withdrawals at no cost.
HESTA provides members with a full suite of insurance cover. Default cover includes 2 units of Death cover plus 2 units of Income Protection (IP) cover, with default IP cover available to age 67 with a 90 day waiting period. Alternatively, members can choose to reduce the benefit payment period to age 60 or to 2 years, with a selection of 30, 60 and 90 day waiting periods.
A great range of additional benefits are provided to members including free scaled advice, discounted health insurance and low cost banking services through ME.