fees are changing

All members pay administration fees and costs to cover the administration of their super account.

These fees and costs also cover the cost of speaking to a super specialist to receive advice on a range of topics about your HESTA account, plus the many other services and digital tools available to you.

What's changing?

The administration fees and costs we charge have not changed in nearly ten years. To continue to provide the services members expect while responding to increasing operational costs, administration fees and costs will change next year (from 1 February 2023).

What this means for members

For income stream members, the weekly flat administration fee will reduce from $1.75 to $1.50, and the percentage-based fee is changing. We’ll also be introducing a cap on our administration fees and costs — so members won’t pay fees on the part of their balance over $600,000 from 1 February 2023.

All members with a HESTA Income Stream will pay less in administration fees and costs.

For members with a super account, the weekly flat administration fee will reduce from $1.25 to $1.00 and the percentage-based administration fee will change. The amount they’ll pay in administration fees and costs will vary, depending on their account balance.

Most members are invested solely in the HESTA Balanced Growth (MySuper) option. Approximately 40% of members invested in this option have an account balance of $18,000 or less, and their administration fees and costs will decrease.

Members who are invested in Balanced Growth and have an account balance above $18,000 will see an increase in administration fees and costs from 1 February 2023.

As an example, a member invested in Balanced Growth with an account balance of $50,000 will see their administration fees and costs increase by $22 per year.

Want more information?

For more information about how the fee change will affect a range of account balances and to read the FAQs, visit Fee Changes.