HESTA Super Fund

HESTA Super Fund Questions & Answers

 Verifiedhesta.com.au
Karen C.
Karen C.

Thankyou so much to Joanna, for helping me through a mind boggling situation. Joanna has been so helpful.

Karen C.
Karen C.

I am 65 and need to take funds out to have surgery. I was advised five business days. I do not have much in there, but I really need this, and I am not having much luck getting it. They sent message saying five days, but nothing has happened. I am having to push back very important surgeries. I am devestated. I have had no help - I feel extremely upset. I am told they do not take days, but months. Some people are waiting months. Is this the case with everyone!

HESTA Super Fund
HESTA Super Fund   DM   

Hi Karen Thanks for taking the time to provide your feedback. We're very sorry to hear of your experience and would like to assist further where we can.

We will be sending you a private message to gather further details so we can look in to this further for you.

Kind regards

The Team at HESTA

Karen C.
Karen C.  

I have sent message back to you. But am not sure if I submitted it correctly.

HESTA Super Fund
HESTA Super Fund   DM   

Hi Karen We have received your message and will reply shortly.

Kind regards

The Team at HESTA

Len M.
Len M.

How long does it take to process my withdrawal from Hesta as it has been 2weeks now.

MsFinny
MsFinny  

Well I made a claim in February and I am still waiting.

HESTA Super Fund
HESTA Super Fund   DM   

Hi Len Thank you for taking the time to get in touch.

The duration of your withdrawal process can vary based on several factors, including the time required to receive necessary documentation and the volume of incoming requests.

We are available Monday through Friday, 8am - 8pm AET, at 1800 813 327 or on our overseas number: +61 3 9200 4714 to provide an update on your withdrawal request.

Alternatively, you can send us a private message through Facebook Messenger by visiting external link between 9am - 5pm AET.

Kind regards

The Team at HESTA

valentine j.
valentine j.

How do I log in

Janine
Janine  

On the HESTA Web page you select Log In, or if you don't already have an online account you will need to create one. You will need to know your membership number.
I am a Super contributor. I don't work at HESTA.
If you need help you should contact HESTA

HESTA Super Fund
HESTA Super Fund   DM   

Hi Valentine Thank you for taking the time to get in touch.

To log into your online account access you must be set up for online account access. You can set up online account access or log in using your log in details (if your account is already set up for online access) at the following link: external link

If you have any further issues, you can select 'online chat' or call us on 1800 813 327 from 8am to 8pm AET Monday to Friday for further assistance.

Kind regards

The Team at HESTA

Dave
Dave

I switched from Hesta a few years back to take advantage of another fund's ability to buy individual shares, which really boosted my super. However, despite ceasing work after turning 60 the fund seems to take months to process a 30k cash withdrawal. Its PDS states that it can refuse cash withdrawals and even suspend accounts. I'm considering switching back to Hesta as it has much better reviews. It seems common from reviews on this site that funds like to tell people it takes 5 business days from receipt of application to receive funds when it actually takes months. Hesta is getting the same kind of reviews when it comes to cash withdrawals. Why does it take this long? Why is there not honesty and transparency around the time frame? My mortgage comes off the fixed rate in July and I will want to withdraw another 100k. I'm worried that despite switching back to Hesta this large withdrawal will take 6 months or more. The rhetorical question is what good is retirement if you can't access your funds?

HESTA Super Fund
HESTA Super Fund   DM   

Hi Dave Thank you for your question.

You can apply for a full or partial cash withdrawal on retirement grounds from your HESTA account online. You can log into your online account here: external link

Or, if you prefer, you can download and complete the following form: external link .

Please scan and email the completed application form and supporting documents to hesta@hesta.com.au or send via post to: HESTA Locked Bag 5136 Parramatta NSW 2124.

If you’re not opted in for electronic identification verifications you will need to provide paper copies of certified ID.

Once HESTA receives all the required documentation, and providing it is all correct – benefits are processed within 3-5 business days.

Please allow additional postage and/or bank processing time on top of this.

You can choose to receive the payment directly to your bank account or we can post you a cheque in your name.

If you have any further questions or concerns about the withdrawal process, our team are available on 1800 628 849 between Monday and Friday, 8am - 8pm AET.

Kind regards

The Team at HESTA

Dave
Dave  

I pointed out that Hesta is getting reviews about significant delays in payments. I was seeking reassurance that if I switched back To Hesta the time frame for a cash payout would be processed in the time you publicly state, due to my current fund having months of wait time. Instead I just get instructions on how to withdraw. Albeit it is a difficult question so I understand the avoidance, but I guess I got my answer.

Tom B.
Tom B.

Does hesta do temporary incapacity to work? My income protection money is being paid into my super annuation fund and hesta are refusing to let me access it!
I've rung my lawyer and they are getting back to me in regards to HESTA and there disgusting way they are treating me. I don't care about the grandfather clause it's my money for my spinal surgery.

Denice D.
Denice D.  

I haven’t had to use this service fortunately Tom . I am only a member and have had satisfactory experience thus far .

HESTA Super Fund
HESTA Super Fund   DM   

Hi Tom We’re very sorry to hear that you’ve had this experience and we’d really like to speak to you further about this.

We will be sending you a private message to gather your membership info so we can organise a member of our team to get in contact with you.

Kind regards

The Team at HESTA

Dave
Dave  

What's the Grandfather clause?

HESTA Super Fund
HESTA Super Fund   DM   

Hi Dave Thank you for reaching out to us. We have received your enquiry and have responded to it through the question you submitted.

If you need any further assistance with the withdrawal process or have any additional questions or concerns, please feel free to reach out to us. Our team is available to assist you at 1800 628 849 from Monday to Friday, 8am - 8pm AET.

Kind regards

The Team at HESTA

Dave
Dave  

Ah...my question was to Denice about what she meant by Grandfather clause. I don't see your answer here anyway. I'm not a Hesta member just browsing the reviews for future reference.

Antoinette V.
Antoinette V.

I have had a TPD claim approved and have emailed the tpd incapacity withdrawal form back.
Question is how long does this take for trustee to approve to release funds toy bank account?

Nancy Powell
Nancy Powell  

Hesta is a good Super Fund, fair trading, Excellent Staff, good customer service and very professional in their approach. Treats all their client with the utmost respect. I like Hesta and have been with the same super fund for years. Hesta is the name of my super fund

HESTA Super Fund
HESTA Super Fund   DM   

Hi Antoinette V. Thank you for your enquiry.

We have sent you a private message requesting your membership details. Once we confirm your HESTA membership, we can provide further information regarding your question.

Kind regards

The Team at HESTA

Antoinette V.
Antoinette V.  

Thank you, I have sent a private message

Sally D.
Sally D.

Am I able to with draw all super when I retire

HESTA Super Fund
HESTA Super Fund   DM   

Hi Sally Thank you for your message.

To claim a full or partial benefit on retirement grounds, you must have reached Preservation Age* and be:

· Between 55 - 59 years of age and permanently retired from the workforce.

· Have ceased employment (or changed employers) after reaching 60 years of age.

After reaching 65 years of age, you can access your superannuation at any time [JC1] even if you are gainfully employed.

* Preservation age is dependent on the year you were born:

D.O.B Before 1 July 1960 -> Preservation Age is 55

D.O.B 1 July 1960 to 30 June 1961-> Preservation Age is 56

D.O.B 1 July 1961 to 30 June 1962 -> Preservation Age is 57

D.O.B 1 July 1962 to 30 June 1963 -> Preservation Age is 58

D.O.B 1 July 1963 to 30 June 1964 -> Preservation Age is 59

D.O.B After 30 June 1964 -> Preservation Age is 60

Please note that you must leave a minimum balance of $6,000 in your account if your employer is still contributing to your account, or you wish to make a partial withdrawal, or you would like to keep your insurance with HESTA. HESTA does not charge a fee for you to withdraw your funds.

To apply for a full or partial cash withdrawal on retirement grounds from your HESTA account online, just log into your online account here: external link

Or, if you prefer, download and complete the following form: external link .

Please scan and email the completed application form and supporting documents to hesta@hesta.com.au or send via post to: HESTA Locked Bag 5136 Parramatta NSW 2124.

If you’re not opted in for electronic identification verifications you will need to provide paper copies of certified ID.

Once HESTA receives all the required documentation, and providing it is all correct – benefits are processed within 3-5 business days.

Please allow additional postage and/or bank processing time on top of this.

You can choose to receive the payment directly to your bank account or we can post you a cheque in your name.

Please don't hesitate to reach out if there is anything else we can assist you with.

Kind regards

The Team at HESTA

Jennifer P.
Jennifer P.

I will be turning 66 on 30 September. No longer working. Am i able fo get my super

HESTA Super Fund
HESTA Super Fund   DM   

Hi Jennifer Thank you for your message.

To claim a full or partial benefit on retirement grounds, you must have reached Preservation Age* and be:

· Between 55 - 59 years of age and permanently retired from the workforce.

· Have ceased employment (or changed employers) after reaching 60 years of age.

After reaching 65 years of age, you can access your superannuation at any time [JC1] even if you are gainfully employed.

* Preservation age is dependent on the year you were born:

D.O.B Before 1 July 1960 -> Preservation Age is 55

D.O.B 1 July 1960 to 30 June 1961-> Preservation Age is 56

D.O.B 1 July 1961 to 30 June 1962 -> Preservation Age is 57

D.O.B 1 July 1962 to 30 June 1963 -> Preservation Age is 58

D.O.B 1 July 1963 to 30 June 1964 -> Preservation Age is 59

D.O.B After 30 June 1964 -> Preservation Age is 60

Please note that you must leave a minimum balance of $6,000 in your account if your employer is still contributing to your account, or you wish to make a partial withdrawal, or you would like to keep your insurance with HESTA. HESTA does not charge a fee for you to withdraw your funds.

To apply for a full or partial cash withdrawal on retirement grounds from your HESTA account online, just log into your online account here: external link

Or, if you prefer, download and complete the following form: external link .

Please scan and email the completed application form and supporting documents to hesta@hesta.com.au or send via post to: HESTA Locked Bag 5136 Parramatta NSW 2124.

If you’re not opted in for electronic identification verifications you will need to provide paper copies of certified ID.

Once HESTA receives all the required documentation, and providing it is all correct – benefits are processed within 3-5 business days.

Please allow additional postage and/or bank processing time on top of this.

You can choose to receive the payment directly to your bank account or we can post you a cheque in your name.

Please don't hesitate to reach out if there is anything else we can assist you with.

Kind regards

The Team at HESTA

DAVIDC
DAVIDC

Why has my income stream lost so much of my money since july 2021 ?

HESTA Super Fund
HESTA Super Fund   DM   

Hi DAVIDC We’re really sorry to hear that you’re disappointed with the investment performance of your super. When considering the performance of your super, it’s important to look at not just the last couple of years of returns but also the longer-term performance of your investments because that can make a big difference to your account balance over time.

Super is a long-term investment, so that’s how we invest. So, we take a patient approach that’s focused on achieving strong, competitive, long-term returns for our members. You can find more information about HESTA’s super performance at external link

We have a range of investment options to suit the different investment needs and risks tolerance of our members. external link

As a HESTA member you can access advice about your super at no extra cost. You can head here to find out more information and set up a call with a qualified adviser: external link

Kind regards

The Team at HESTA

DAVIDC
DAVIDC  

Thanks. Last time I dealt with Hesta it 2 months to answer my queries with an unsatisfactory outcome.

HESTA Super Fund
HESTA Super Fund   DM   

Hi DAVIDC We appreciate you taking the time to share your feedback with us. We're very sorry to hear that you had this experience and want to assist you as best as we can.

We will be reaching out to you by private message to see if you would like to speak to a member of our team.

Kind regards

The Team at HESTA

DAVIDC
DAVIDC  

Thankyou.

Paula  Stevens
Paula Stevens

Could you clarify what contribution tax is , I noticed that I’m paying it , but I have not put any extra funds into my account.

HESTA Super Fund
HESTA Super Fund   DM   

Hi Paula Thank you for getting in touch with your question.

Contributions tax of 15% applies to all contributions received from your employer.

Additional tax may apply in some circumstances. For more information please refer to our How Super is Taxed information: external link .

If you have any further queries, you can speak to a member of our team by calling 1800 813 327 from Monday to Friday (8am-8 pm AEST), or +61 3 9200 4714 when calling from outside Australia.

Kind regards

The Team at HESTA

Lyke Nizz
Lyke Nizz

Hi there,
I am thinking to join Hesta Super and just wondering how long will it take to consolidate my existing super funds into Hesta.
Thanks.,

HESTA Super Fund
HESTA Super Fund   DM   

Hi Lyke Thank you for your question.

We certainly welcome all members into our super fund.

If you’d like to find out more about us, visit our website here: external link .

Timeframes for joining can vary. To speak to a member of our team, you can call 1800 813 327 from Monday to Friday (8am-8 pm AEST), or +61 3 9200 4714 when calling from outside Australia.

Kind regards

The Team at HESTA

Noel
Noel

we are2, 72 year old self funded retirees with our own self managed super.
We will be receiving some funds outside our our SMSF in the next 2 months and will want to join the Hesta Fund using the bring forward rule to make the maximum available contribution for each partner under this rule.
Is it possible to deposit these funds directly into a new retirement pension with Hesta and what is the procedure.

HESTA Super Fund
HESTA Super Fund   DM   

Hi Noel Thanks for reaching out.

The 'How Super Works' brochure provides more detailed information on making contributions. For your convenience, please see this link: external link

There are a number of options available to you enabling you to contribute to HESTA.

You will note that eligibility to make after tax contributions and to utilise the ‘bring forward’ (make contributions up to $330,000 over a 3-year period) will depend on your age and total super balance. You can go to external link to see if you’re eligible.

HESTA has both accumulation and income stream (pension) products. The accumulation product are for members looking to save for their retirement and as such can accept eligible contributions. The retirement product is designed for members who have met a condition of release (such as having met their preservation age and retired) and are looking to convert their accumulation account into an income stream

When considering if commencing a Retirement Income Stream account is appropriate for you, it is important that you seek financial advice.

If you’d like to find out more about us, visit our website here: external link

And if you’d like to join us, you can do so via our website here: external link

If you would like to speak to a member of our team further about this over the phone, please call 1800 813 327 (8am-8 pm AEST), or +61 3 9200 4714 when calling from outside Australia.

Kind regards

The Team at HESTA

Elle S
Elle S

Is it true that members over 60 can get their Super out now?

HESTA Super Fund
HESTA Super Fund   DM   

Hi Elle Thank you for your question.

Ordinarily, you'll need to meet a retirement condition in order to withdraw your super.

There are 3 main criteria under which you are eligible to make a lump sum withdrawal on 'Retirement' grounds. They are as follows:

You have reached your 'preservation age'* and declare yourself to be fully retired with no intention of working more than 10 hours per week in the future

You have ceased any single employment arrangement (e.g. change jobs) between the ages of 60 and 64

You are over 65

*Your 'preservation age' is dependent on your date of birth (D.O.B) as detailed below:

D.O.B Before 1 July 1960 -> Preservation Age is 55
D.O.B 1 July 1960 to 30 June 1961 -> Preservation Age is 56
D.O.B 1 July 1961 to 30 June 1962 -> Preservation Age is 57
D.O.B 1 July 1962 to 30 June 1963 -> Preservation Age is 58
D.O.B 1 July 1963 to 30 June 1964 -> Preservation Age is 59
D.O.B After 30 June 1964 -> Preservation Age is 60

If you meet a condition of release under retirement grounds, you can withdraw your funds in an unrestricted capacity.

If you would like to speak to a member of our team further about this through live chat, please follow this link and click ‘Got a question?’ in the bottom right-hand corner of the screen: external link .

To speak to a member of our team over the phone, please contact us on 1800 813 327 (8am-8 pm AEST).

Kind regards

The Team at HESTA

Maria B.
Maria B.

What is the product type or option?

HESTA Super Fund
HESTA Super Fund   DM   

Hi Maria Thank you for your question.

Product type refers to the specific HESTA offerings available to members which is inclusive of super accumulation and income stream products.

For our super accumulation and income stream products, we offer a mix of ready-made investments pools and choice asset classes with a total of 10 different options to choose from.

More information on our investment options can be found here: external link

If you have any further queries please call us on 1800 813 327, 8am-8pm AEST, Monday-Friday.

Kind regards

The Team at HESTA

Zenaida S.
Zenaida S.

Hi. I have been off work for 6 years due to medical condition and most likely this will be an early retirement since I cannot go back to work. I have had accessed lump sum payments a number of times from my HESTA super. My super money was not much in it as i held my other super through Self Managed SuperFund. I was informed I can withdraw all of my funds in Hesta super, however I prefer to keep it open for when I sold my property under SMSF I intend to deposit the money to HESTA. My question is how much money I need to have in my HESTA super to be able to leave it open. Thank you

HESTA Super Fund
HESTA Super Fund   DM   

Hi Zenaida Thank you for taking the time to get in touch with your enquiry.

We're sorry to hear you have been unable to work due to your medical condition.

The minimum balance to keep a HESTA account open is $6000.

If you have any further questions, please call us on 1800 813 327 Monday-Friday, 8am-8pm AEST and a member of our team will be happy to assist.

Kind regards

The Team at HESTA

Zenaida S.
Zenaida S.  

Thank you..

Kerryn
Kerryn

When withdrawing super for financial hardship, is this allowed once every financial year or once every calendar year?

HESTA Super Fund
HESTA Super Fund   DM   

Hi Kerryn Thank you for getting in touch.

When withdrawing your superannuation due to financial hardship you can make a withdrawal once every 12 months. The 12 months is not based on financial year or calendar year.

Once a withdrawal under a financial hardship claim has been processed the 12 month counter starts (not from the date of the signature).

If you have any further enquiries about accessing your super, you can find more information here: external link

Alternatively, you can call us at 1800 813 327 and our team will be happy to assist.

Kind regards

The Team at HESTA

Niranjan
Niranjan

Hi
I am considering changing my super. What would be the process? Would you guys help me merge my old super here or Do I have to the running around? Please let me know.

HESTA Super Fund
HESTA Super Fund   DM   

Hi Niranjan Thanks for your question.

We certainly welcome all members into our super fund which means you don't need to be working in the Health & Community sector to join our Super Fund. All industries are welcome to join HESTA and we will accept contributions from any employer within Australia. If you’d like to find out more information, you can visit our website here: external link

Alternatively you can speak to a member of the team with any further questions you may have by calling 1800 813 327 (8am-8 pm AEST).

Kind regards

The Team at HESTA

Bamboozled
Bamboozled

Hi, Am I able to withdraw my entire super as a lump sum when I turn 60?

HESTA Super Fund
HESTA Super Fund   DM   

Hi Bamboozled Thank you for taking the time to get in touch with your enquiry.

Based on current legislation, you'll need to meet a retirement condition in order to withdraw your super. If you meet a condition of release under retirement grounds, you can withdraw your funds in an unrestricted capacity.

There are 3 main criteria under which you are eligible to make a lump sum withdrawal on 'Retirement' grounds. They are as follows:

1. You have reached your 'preservation age'* and declare yourself to be fully retired with no intention of working more than 10 hours per week in the future

2. You have ceased any single employment arrangement (e.g. change jobs) between the ages of 60 and 64

3. You are over 65

*Your 'preservation age' is dependent on your date of birth (D.O.B) as detailed below:

D.O.B Before 1 July 1960 -> Preservation Age is 55
D.O.B 1 July 1960 to 30 June 1961 -> Preservation Age is 56
D.O.B 1 July 1961 to 30 June 1962 -> Preservation Age is 57
D.O.B 1 July 1962 to 30 June 1963 -> Preservation Age is 58
D.O.B 1 July 1963 to 30 June 1964 -> Preservation Age is 59
D.O.B After 30 June 1964 -> Preservation Age is 60

If you meet a condition of release under retirement grounds, you can withdraw your funds in an unrestricted capacity.

If you have any further questions, our Customer Care team will be happy to assist you.

To speak to a member of our team through live chat, please follow this link and click ‘Got a question?’ in the bottom right-hand corner of the screen: external link . To speak to a member of our team over the phone, please contact us on 1800 813 327 (8am-8 pm AEST).

Kind regards

The Team at HESTA

ebecker.klinga
ebecker.klinga

Why does Hesta don’t have an App for the phone ?

HESTA Super Fund
HESTA Super Fund   DM   

Hi external link Thanks for getting in touch with your question.

Our HESTA app has closed for now as we make improvements. We would love to hear what you would like to see in the new and improved app. Once we receive your feedback, we will pass it on to the relevant team.

The good news is we have a new look to our online account to make managing your super easier from your mobile or desktop. Just go to external link to start using it.

Please let us know if you have any further questions regarding your account and we will be more than happy to assist.

Kind regards

The Team at HESTA

Adelaide T.
Adelaide T.  

So the app has been offline since, what, JULY 2020 ? a TWO YEAR gap?

Hardly agile....

What's a likely release date? Your competitors have managed to sort this out.

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