keep your super and insurance

From 1 July 2019, members with inactive accounts could lose their insurance cover, and those with inactive low-balance accounts could be transferred to the Australian Tax Office (ATO). Could this affect you?

Want to keep your insurance cover?

Simply complete the online form. Then you'll stay covered, even if your account becomes 'inactive'.
 
 
 
What is an 'inactive' account?
 
An 'inactive' account is when any super account hasn't had any contributions or rollovers for 16 months or more.
 
If you're currently a HESTA member and your super account is considered 'inactive' from 1 July 2019 onwards, any insurance cover you have will cease.
 
Click below to find out how to keep your insurance.
 
 
 
 
I want to keep my insurance cover if my account becomes 'inactive'.
 
Let us know by:
  • completing this online form or
  • calling us on 1800 813 327 and choosing 'keep my insurance cover' from the menu or
  • changing your preferences in your HESTA online account
    • log in or set up your online account here using your member number
    • once you're logged in, go to the 'Personal details' section
    • then go to 'Preferences' and choose Please keep my insurance cover if I become 'inactive'.

 

 
Make your account active
 
Making a contribution or rolling over other super into your HESTA account will make your account 'active' and not affect your insurance cover if it has not already ceased due to inactivity.
 
However, if your account becomes 'inactive' again, your cover will cease. Click here for more information about telling us you don't want to lose your cover if you become 'inactive'.
 
If your account becomes 'active' after being 'inactive', new insurance cover must be applied. If this happens, the new cover you receive may be different to what you had before you became 'inactive' and may be subject to restrictions like 'New Events Cover'.
 
 
 
 
I don't want to keep my insurance cover if my account becomes 'inactive'.
 
You don't need to do anything if you're happy to lose your insurance cover.
 
However, if your account becomes 'active' again, new insurance cover will be applied. If this happens, the new cover you receive may be different to what you had before you became 'inactive' and may be subject to restrictions like 'New Events Cover'.
 
To check your current insurance cover, log in to your online account.
 
 
 
 
I don't need insurance cover anymore.
 
If you don't need your cover anymore, you can cancel it at any time. Insurance fees will stop being deducted from your account and you won't be able to make a claim for any injury or illness that occurs after your cover ceases. If you would like cover in the future, you will need to reapply and any cover will be subject to insurer approval.
 
You can cancel your cover by:
Before you cancel your cover, we recommend speaking to a financial adviser. You can read more in Insurance options.
 
To check your current insurance cover, log in to your online account.
 
 
 
 
What if my account is 'inactive' and has a balance under $6,000?
 
When a super account hasn't had any contributions or rollovers for 16 months or more, and has a balance less than $6,000, this is known as an 'inactive low-balance' account.
 
If you're currently a HESTA member and you fall into this category, your balance may be transferred to the ATO. 
 
Click below to find out what you can do to stay with HESTA.
 
 
 

 

I don't want to be transferred to the ATO. What can I do?
 
You can:
 
Keep your insurance cover if you become inactive
 
By electing to keep your insurance cover if you become 'inactive', see above - you won't be considered 'inactive low-balance' or be transferred to the ATO.
 
Let us know by:
  • completing this online form or
  • calling us on 1800 813 327 and choose 'keep my insurance cover' from the menu or
  • changing your preferences in your HESTA online account
    • log in or set up your online account here using your member number
    • once you're logged in, go to the 'Personal details' section
    • then go to 'Preferences' and choose Please keep my insurance cover if I become 'inactive'.

 

 
 
Take a regular action
 
Do one of the following actions every 16 months to avoid being transferred to the ATO.
  • Change your investments 
    If you're confident about your super, you can update your investment options in your online account any time.
  • Make a binding death benefit nomination
    Choose who'll receive your super if you die by completing this form.
  • Apply for insurance
    There are lots of great reasons to have your insurance through HESTA. Click here to see what your options are.
  • Notify us
    Complete and email the ATO form Inactive low-balance accounts - declaration (ATO to release shortly) to hesta@hesta.com.au to tell us you don't want your account to be considered 'inactive low-balance'.
Taking a regular action won't make your account 'active', it just stops your balance from being transferred to the ATO. See below for more about this.
 
 
 
Make your account active
 
Make your account active by taking any one of the following actions every 16 months. You won't have to worry about losing your insurance cover or risk having your account balance transferred to the ATO.
 
 

 
Make your own personal contribution
 
Add an amount directly from your bank account into your super, just like you might pay a bill.
 
It could be $10 or $20, it's up to you.
 
 
 
 
Receive employer contributions
 
Arrange for your employer to pay your super into your HESTA account.
 
You'll just need to complete the Choice of super fund request form.
 
 
 
 
Consolidate your super accounts
 
Rollover any other super you have into HESTA.
 
You can do this in your online account or we can help you do it over the phone. Call us on 1800 813 327.
 
 
If your insurance ceased due to inactivity and you make your account active again, new insurance cover will be applied. If this happens, the new cover you receive may be different to what you had before you became inactive and may be subject to restrictions like 'New Events Cover'.
 
Want to avoid your cover ceasing again if you become 'inactive'? Click here to find out how.
 
My account has been transferred to the ATO. What now?
 
The ATO will attempt to combine your super with an active account that you have at another super fund.
 
 
 
 

Want to know more?

For more information about these changes visit the MoneySmart website.

Check my account now

Log in to your online account to check when the last contribution or rollover was made into your account.