Joint winner of the 2021 Net Benefit Award, HESTA Income Stream was established in 2007 to provide for the retirement needs of members employed within Health and Community Services. The fund is a public offer fund and allows members from all industries to apply for membership, with a minimum initial investment of $50,000 required to commence membership. The fund was nominated as a finalist for the 2021 Momentum award and the 2021 Pension of the Year award, and is also Infinity Recognised, which is a result of its strong commitment to environmental and social principles.HESTA Income Stream offers an investment menu of 5 Diversified options and 5 Single Sector options. The fund also offers the HESTA Income Stream Ready-Made Investment Strategy, which aims to reduce investment risk over time. The Balanced Growth option outperformed the relevant SuperRatings Index over each time period assessed to 30 June 2020.Fees are lower than the industry average across all account balances assessed, with a reduced administration fee on balances of $250,000 and over. The fund does not charge a buy-sell spread; however, a switching fee applies to the third and any subsequent investment switches within a financial year.HESTA Income Stream offers excellent pension flexibility, with members able to select from fortnightly through to annual payment frequencies. Pension payments can be indexed each year by up to 5% or in accordance with CPI. Members with more than one investment option can nominate the proportion of, or order in which, payments are to be drawn from each option. Members can also select from reversionary pension, binding death nomination and non-binding lump sum death benefits.A great range of benefits are provided to members including free scaled advice and low-cost banking.

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