A fund member who is not currently receiving any contributions or rollovers to their account.

The amount payable to an insured member as an income stream if they become disabled as defined by HESTA's insurance policy.

Insurance cover offered through HESTA, under which a member may be paid a benefit if they become disabled.

A series or stream of payments made at regular intervals, usually purchased as a lump sum to provide a retirement income.

A super plan that requires an employer to contribute to a member's super account on their behalf, under the terms of the Fund's rules and Trust Deed. The employer becomes a Participating Employer whose employees can then become members of the Fund.

A multi-employer super fund, such as HESTA which will normally cover employees in a particular industry or group of industries, or in a particular geographic area. Because of their scope, industry funds tend to have large memberships. Their economies of scale, the fact that they all profits for members and generally don't pay any commissions to agents, make them extremely effective in keeping down costs to members. These funds usually have Trustee Boards with equal representation for employers and employees. HESTA is your industry fund for the health and community services.

An investment term for assets which include roads, airports, power stations and other key community projects. Investment in infrastructure can take many forms including a loan to government, direct equity in a development or purchase, or a loan to a participant in a development. It is generally a moderate risk investment that may produce strong returns. However, the risk and return characteristics of individual investments depend on the nature of the investment so they can be of either a growth or defensive nature.

The sum of money paid periodically to purchase and maintain insurance cover.

The return on money invested, usually expressed as a percentage per annum.

When a super fund offers members a choice of investment options in which to invest their super.

The fee charged by an investment manager for its services. The fee is normally charged as a percentage of the funds invested, and there may be performance-based component. The fees are deducted from HESTA's earnings before the Fund's earning rate is determined.

A company appointed by a fund to manage the investment of all or part of the fund's assets. It is common for funds to appoint a range of investment managers who have specialist expertise in particular areas of investment.