HESTA is the industry super fund for Australia’s health and community services sector, with approximately 1 million members and over $80 billion in funds under management. It is one of the country’s largest industry funds and is particularly focused on its predominantly female membership base.
This review provides general information only and is based on publicly available data. It is not a personal recommendation.
HESTA at a Glance
| Feature | Details |
|---|---|
| Fund type | Industry fund (profit-to-members) |
| Target industry | Health, aged care, community services, social welfare |
| Members | ~1 million |
| Funds under management | ~$80+ billion |
| Default option | Balanced Growth (MySuper) |
| Regulated by | APRA, ASIC |
Fees — HESTA Super
| Fee Type | Approximate Amount |
|---|---|
| Administration fee | $52/year flat + $1.50/week (~$130/year total) |
| Investment fee | 0.20–0.55% of balance |
| Indirect cost ratio | 0.10–0.20% |
| Total fee (example: $50k Balanced Growth) | ~$380–$520/year (~0.76–1.04%) |
Fees are comparable to other major industry funds at similar balance levels. Members with larger balances benefit from the flat administration fee component becoming proportionally smaller.
Investment Performance — Balanced Growth (MySuper Default)
HESTA’s Balanced Growth option has performed solidly over the medium term:
| Period | Approximate Annual Return |
|---|---|
| 1-year (FY2024–25) | ~8–10% (indicative) |
| 5-year average | ~6–8% per year |
| 10-year average | ~7–9% per year |
Past performance is not a reliable indicator of future performance. Verify current figures directly with HESTA.
Investment Options
| Option | Approx. Growth Assets | Risk Level |
|---|---|---|
| Shares Plus | ~100% | Very High |
| Diversified Growth | ~85% | High |
| Balanced Growth (default) | ~65% | Medium |
| Indexed Balanced | ~65% (indexed) | Medium |
| Defensive | ~30% | Low |
| Cash | ~0% | Very Low |
| Sustainable Growth | ~85% (ESG) | High |
HESTA offers a low-cost indexed balanced option — a good choice for fee-conscious members who want passive management.
Insurance — HESTA Super
| Cover Type | Default Cover |
|---|---|
| Life (death) cover | Yes — fixed or unit-based, age-scaled |
| Total and Permanent Disability (TPD) | Yes — “any occupation” definition |
| Income Protection | Yes — 2-year benefit period, 60-day waiting period |
HESTA’s insurance is generally suited to its workforce — nurses, aged care workers, social workers — who typically face moderate rather than high physical workplace hazard. TPD uses an “any occupation” definition, which may be less favourable for members in physically demanding roles.
Note: HESTA has historically focused on its predominantly female membership and has advocated for improvements to the super system to reduce the gender super gap (particularly around parental leave, part-time work, and low-income super balances).
Who Is HESTA Best Suited To?
HESTA suits:
- Health, aged care, social services, and community sector workers
- Members who prefer a fund with a strong social focus and advocacy on gender equity in super
- Members seeking a mid-tier indexed option at lower cost
- Workers in casual or part-time roles who may have lower balances and benefit from HESTA’s fee structure
For further comparisons: Best Super Funds Australia, AustralianSuper Review, Aware Super Review. For advice tailored to your situation, speak with a licensed financial adviser through MoneySmart.