30 September 2025
HESTA has today announced lower investment fees across most of the fund’s ready-made super investment options in the last financial year and a lower minimum balance for accessing Income Stream products.
Members will be able to see the reductions in the updated Product Disclosure Statements (PDS) released today, including more than 6% savings on investment fees for the default Balanced Growth portfolio, where most members are invested.
HESTA CEO Debby Blakey said the changes reflected the fund's ongoing commitment to delivering value while maintaining strong investment performance for members.
"The fee reductions across our ready-made options demonstrate our commitment to optimising member outcomes while maintaining strong investment performance," Ms Blakey said.
"We're focused on ensuring our members receive maximum value from their retirement savings."
The investment fee reductions were across HESTA's top four ready-made super investment options, by funds under management.
The default MySuper Balanced Growth option saw investment fees reduce from 0.62% to 0.58%.
Members in the Conservative option benefited from a reduction from 0.42% to 0.40%, while Sustainable Growth investment fees decreased from 0.83% to 0.75%, and investment fees in the High Growth option fell from 0.78% to 0.72%.
The news comes as the fund also announces it is reducing the minimum balance required to start an Income Stream from $50,000 to $10,000, effective 30 September.
The decision reflects the fund’s commitment to improving flexibility and accessibility for members as they transition into retirement.
"Retirement is not a one-size-fits-all experience," Ms Blakey said.
"This reduction in minimum balance will open up access to Income Stream products for more members, providing them with tax-free investment returns and the HESTA Retirement Reward, if eligible. It's about adapting to the realities of modern retirement and providing members with the tools they need to improve their retirement outcomes."
HESTA is more broadly calling for a reimagining of retirement design to better reflect changing member needs, including enabling funds to implement member opt-out defaults into retirement products, the option to top up income streams to enable greater flexibility in the pension phase.
“The way many Australians are retiring is changing and initiatives like these can help improve member outcomes and support the future adaptability of our retirement system,” Ms Blakey said.
HESTA encourages members to review the updated PDS to learn more about how the changes can benefit them.
Ends.