make it count

Welcome to HESTA

April 2020

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0102030405

boost your savings

one happy place

keep in touch

here for good

here for you

hello and welcomeYou’ve joined the super fund dedicated to people like you, people who provide some of the best health and community services in the world.We’re here to help you save for your future and turn your dream retirement into a reality, so you can live your very own version of happy ever after.

These pages will help you understand how your super works, what you can do to save more and where to turn if you need help.

Sarah TookeMidwife, Childbirth and Parenting EducatorWinner - Team Excellence HESTA Australian Nursing & Midwifery Awards 2017

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feel good decision

You have every reason to feel good about your decision to join HESTA.

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Our main aim is to give you the freedom to choose how you spend your spare time in retirement.

No matter what anyone says, you don’t need a fortune to live the good life. If you’re doing ok on your current wage, there’s no reason why you won’t be able to retire comfortably.

There are three key elements to getting your super working for you.

boost your savings

keep in touch

one happy place

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01 boost your savings

Your super is a solid investment in what matters most — you. That’s why putting in a bit extra can make a real difference to your future.

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What’s even better is that when you put in extra, there can be tax advantages or bonuses to make it even more worth your while.

A small sacrifice

One of the most popular ways people increase their super is through salary sacrifice. This means a set amount goes straight into your super from your before-tax income.

The best part? You only pay 15% tax on the money you put into super, compared to your normal income tax rate.

If you’re a low income earner, there may be little to no advantage in salary sacrificing.* After-tax contributions may be another option for you.

To learn more visit ato.gov.au or speak to a financial adviser.

Yearly contribution limits

You can contribute up to $25,000 p.a. to your super before tax including any contributions your employer makes on your behalf.

*Any contributions before tax are included in the income test for the government co-contribution and other benefits.

Remember, you don’t need to put in huge amounts to boost your savings.

You should know

If you take out your super balance before you turn 60, you may have to pay extra tax on contributions you have made.

Speak to your employer or payroll officer about starting to salary sacrifice.

If you are self-employed or your employer doesn’t offer salary sacrifice, you can claim a tax deduction for personal super contributions. Visit ato.gov.au

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topping up your super

We know it can be hard to find that little bit extra to keep aside, but putting in extra now could mean enjoying more of life’s joys later on.

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You can choose to put in extra to your super after you get paid. This is called an after-tax contribution because this money has already been taxed.

Get something back

If your total income* is less than $53,564 and you find extra to put towards your super, you could be rewarded for it. The government co-contribution is a super top up where you could get up to a total of $500 extra in the financial year.

Find out if you are eligible and what you could receive at hesta.com.au/gcc

If you get a bonus at work, or perhaps money from an inheritance, this is a great opportunity to put in a lump-sum amount. The rest of the time, you can add what you can, when you can. Setting up a regular direct debit from your bank account is often the easiest way to do this.

Planning to top up your super by making after-tax contributions? You can put in a maximum of $100,000 p.a. to your super. You can only add to your super if we have your tax file number. This will also ensure you pay the correct tax rate on your contributions.

You can use your BPAY reference to start topping up your super. You can find it on your statement or in your account at hesta.com.au/login

* Total income is a combination of your income, plus your reportable fringe benefits and reportable super contributions, less deductions, for the financial year.

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02 one happy place

Your super is your money. Just think of it as a separate, long-term savings account that you’ll access later in life.

As with any savings, the more that’s in it — the more it could earn. That’s why it’s important for you to keep all your super together in one place.

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If you’ve worked at different places, there’s a chance you have a few super accounts. This means you could be paying extra fees. By rolling any other super funds into your HESTA account, your super will be easier to keep track of.

Take your super with you whenever you change jobs. Ask each employer to pay contributions into HESTA and give them a Choice of Fund form available at hesta.com.au/forms

Log in and update your personal details at hesta.com.au/login

To roll your other super accounts into HESTA:

1. Visit hesta.com.au/molUsing your member number and password, log in to Member Online, navigate to ‘consolidate super’ and click the ‘Search for your fund’ box.

Alternatively, click the ‘Find your other super’ button, to possibly find funds you didn’t even know you had!

2. Find your other accounts

Enter your member account number of the fund you want to transfer funds from.

3. CompleteSimply confirm all the details are correct, and you’re done! You have now rolled your super together in one happy place.

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03 keep in touch

Your Member Online account is just like online banking for your super. You can check on your super balance, change insurance options, view your investment choices and update your personal details.

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Once you log in to your online account, your email address will be registered with us.

This way, we can keep you in the loop with news that might impact you or your super, as well as get statements to you more quickly via email.

Digital member cardKeep your HESTA member details easy to access anytime and anywhere by downloading your digital member card into your smartphone’s digital wallet.

Download yours today at hesta.com.au/card

Log in to your HESTA account at hesta.com.au/mol

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04 here for good

Although you probably manage the household finances and are a whizz at making your budget stretch, you may not have thought about how to get your super working harder. (And if we’re honest, you probably don’t even have the time!)

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Our professional financial planners can tell you everything you need to know about retirement, budgeting, the finance market, Centrelink, interest rates or basic finance.

You can read more at hesta.com.au/advice

Professional advice can be invaluable when it comes to planning for the future. Our team of qualified professionals can chat to you over the phone or in person.

We can help you make the most of your money through our education and advice service.

Future getting closer? If you need help with retirement planning, you can arrange a session with our Superannuation Advisers at no extra cost. We also run retirement planning sessions across the country. Check out the current calendar at hesta.com.au/seminars

There are no extra fees to pay on our super advice and you can access low-cost financial planning – so get in touch and let’s talk.

Improve your skills Try the HESTA Money 101 education tool. It can improve your financial confidence with your super, retirement, family finances and personal budgeting at hesta.com.au/money101

01 03You can choose from:

one-on-one personalised consultations

online calculators at hesta.com.au/calculate

02workplace education sessions

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05 here for you

More than 80% of our members are women, so we understand you give a lot of yourself to others both at work and at home. That’s why we do more to make sure you are supported and rewarded.

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Super is there for when you’re ready to retire, but being protected against the uncertainty of life is something HESTA gives you right now.

Members receive automatic insurance with HESTA when they become eligible. It’s paid for from your super account, so you don’t have to dip into your weekly budget to pay for insurance fees or remember to renew each year.

Free cover during parental leave

We won’t charge insurance fees for your insurance cover while you take up to 12 months of approved parental leave.

IP Cover also features a lump-sum payment after two years of $10,200 to support eligible members who are unable to return to work.

See hesta.com.au/insurance for more details.

Cover can be adjusted to suit your needs. You can apply to change your insurance cover to a mix of Income Protection, Death or Lump-sum Total and Permanent Disablement Cover by completing a full Personal Health Statement in the Insurance cover application form within Insurance Options, or apply via your online account at hesta.com.au/login

Check your current insurance details by logging in to hesta.com.au/login

Low-cost insurance for

HESTA members

Standard Income Protection (IP)

to age 67 in case you need to stop working due to injury or illness

Optional Lump-sum Total and Permanent

Disablement (TPD) Cover to age 70

Standard Death Cover to age 75

awarding good work

Now you’re a HESTA member you’re part of a national program that rewards people like you, and the life-changing work you do. Make the most of your membership and nominate someone you know who deserves to be recognised.

You never know – you might even end up with an award yourself!

Find out more at hesta.com.au/awards

Gail YarranElder and Registered NurseWinner Nurse of the Year 2018 HESTA Australian Nursing & Midwifery Awards

Issued by H.E.S.T. Australia Ltd ABN 66 006 818 695 AFSL No. 235249, the Trustee of Health Employees Superannuation Trust Australia (HESTA) ABN 64 971 749 321. This information is current as at 1 April 2020. While every attempt has been made to ensure the accuracy and reliability of the information, it is not guaranteed in any way. This information is of a general nature. It does not take into account your objectives, financial situation or specific needs. You should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this. Investments may go up or down. Past performance is not a reliable indicator of future performance. Product ratings are only one factor to be considered when making a decision. See hesta.com.au for more information. H.E.S.T. Australia Limited has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195 AFSL No 232514 to facilitate the provision of financial advice to members of HESTA. Advice is provided by one of our financial planners who are Authorised Representatives of IFS. Fees may apply. Information about these advice services is set out in the relevant Financial Services Guide, a copy of which is available by calling 1300 138 848. IFS is responsible for any advice given to you by its Authorised Representatives. H.E.S.T. Australia Ltd has shares in the company that owns IFS, but does not receive any commissions as a result of members using their services. HESTA Associate Superannuation Advisers and HESTA Superannuation Advisers are representatives of H.E.S.T. Australia Limited. Before making a decision about HESTA products you should read the relevant Product Disclosure Statement (call 1800 813 327 or visit hesta.com.au for a copy), and consider any relevant risks (hesta.com.au/understandingrisk).

Get in touchphone 1800 813 327

email hesta@hesta.com.au

find us online hesta.com.au

write to us Locked bag 5136 Parramatta, NSW 2124

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