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HESTA is an industry super fund. It is dedicated to Australia’s health and community services sectors, though membership is open to all.

Types of HESTA super accounts


This eponymous product is the main one available to members who join HESTA through their employer. At the time of writing, HESTA members have access to a range of investment options, including Ready-Made and Your Choice options. Your Choice options allow members to design their own asset mix by choosing how much to invest in one or more of five options. The Ready-Made options suit investors who want a diversified investment without needing to tailor their portfolio, and include: 

  • Balanced Growth: The default MySuper investment option. This option aims to achieve medium to long-term growth and invests in mainly growth assets, including shares, private equity, property and infrastructure.
  • Conservatve: This option mainly invests in non-growth assets of debt and cash. The aim is medium-term growth, and in the short term this option is expected to be more stable than Balanced Growth. 
  • Indexed Balanced Growth: This option aims to closely match index returns by investing in a combination of low-cost asset class strategies. Medium to long-term growth is the objective of this investment option.
  • Sustainable Growth: With the aim of achieving medium to long-term growth, this option mainly invests in shares, debt and private equity. Sustainable Growth only invests in companies that meet HESTA’s environmental, social and governance (ESG) criteria.
  • High Growth: Mainly invests in growth assets such as Australian and international shares and private equity, with the aim of achieving strong long-term growth. This option may be less stable than Balanced Growth in the short term.

Personal super

Personal super is available to members who are not eligible for the standard HESTA product, including self-employed individuals. Personal super members have access to the same investment options as the HESTA product above.

Personal super has the same features of the HESTA product above, however insurance cover does not commence automatically.

How to join HESTA

Before committing to a particular fund, consider comparing your options with Canstar and checking out our choosing a super fund checklist. You can also read HESTA’s product disclosure statements (PDS), available on its website, which could help you decide whether its product offering is suitable for your needs.

If you decide to join HESTA, you can open an account online, by sending HESTA a completed application form, or over the phone. If joining online, HESTA says you will need 10 minutes and your tax file number.

Finally, remember to tell your employer that you’ve joined HESTA. Your employer should give you a Superannuation Standard Choice Form to fill out, sign and return to them.

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Can I manage my HESTA account online?

Yes, HESTA has a dedicated online portal for super fund members. You can view your account balance online, access statements for your account, download super fund information and more.

How is my super invested with HESTA?

HESTA offers a choice of 10 investment options at the time of writing. These are made up of five diversified options and five single asset class options.

You can choose to invest in one of the diversified options or a combination of any of the single asset class options. You can also switch investment options for no fee, according to HESTA.

If you don’t make a decision as to how your money will be invested, HESTA says members will be invested into the Balanced Growth option.

For more details on what each HESTA investment option entails, you can contact HESTA or read the PDS and other documentation on its website.

Does HESTA offer a sustainable investment option?

HESTA offers one ethical investment option: Sustainable Growth. This option only invests in companies that HESTA has determined as having above-average ESG (environment, social and governance) performance, with some exposure to environmental property investments.

What fees does HESTA charge?

HESTA charges a variety of fees to its members in return for managing their superannuation savings. At the time of writing, some of its fees include:

  • Investment fees, which can vary depending on the investment option you choose.
  • Administration fees
  • Insurance fees, if you have insurance cover through your super.

Bear in mind that other fees may apply. Consider checking HESTA’s product disclosure statement (PDS) for details. You can also compare the annual fees for HESTA’s default investment option to other super funds’ fees on Canstar’s database.

Can I consolidate my super with HESTA?

HESTA says you can search for and consolidate your super by logging in to your account and going to the ‘Combine’ tab.

It’s important to check with your current super fund(s) for information regarding any related costs you may incur and any insurance cover you may lose if you switch super funds. Also consider whether consolidating your super is a suitable decision for your life stage and retirement goals.

What should I check on my annual statement from HESTA?

To help you stay on top of your super, it may be beneficial to check your regular super statement closely. Here are some of the factors that could be worth paying attention to:

  • Are your personal details up-to-date?
  • Are your nominated beneficiaries up-to-date?
  • Is your Tax File Number (TFN) correctly recorded?
  • Are the super contributions from your employer and/or your voluntary contributions correct?
  • Are your investment asset class choices appropriate for your life stage?
  • Are you happy with the amount you’re paying in fees?
  • Is your insurance still adequate for your needs?
  • Have you decided whether to consolidate your super, after checking whether there is insurance or any other benefits attached to the account you may lose and if you’re comfortable to do so?
  • The big picture – are you happy with your super fund overall?

HESTA is an industry super fund dedicated to people working in health and community services, though membership is open to all. HESTA members include people working in aged care, private and public hospitals, community services, primary health care and early childhood education and care.

This content was reviewed as part of our fact-checking process.

Written by: Tom Letts | Last updated: October 1, 2021