let's stay together

til death do us part... or until you choose to change super funds!

When most contestants sign up to be on a reality TV dating show, they don’t really mean “til death do us part” when they commit to a relationship with a virtual stranger. The same goes for when most people start their first job. They’re probably excited to be earning some money and perhaps nervous about how they’ll go learning their new role. Almost certainly, a young person isn’t thinking about the super fund attached to their new job and whether they want to be with it until retirement – which could be a good 50 years away!

That’s why you need to know about ‘stapling’

The way super works is changing – and that makes it important to pay attention to it (at least in the honeymoon phase!).

From 1 November, unless you make a choice, your current super fund will follow you from job to job. This will ‘staple’ your fund to you throughout your working life.

Is stapling a good thing?

Well, in some ways it is. It’ll ensure you’re easily able to keep track of your super savings and won’t collect multiple super accounts as your career unfolds – meaning you’ll avoid paying multiple sets of fees and costs.

What can go wrong?

There’s a real risk you could be stuck with an underperforming fund – with less than impressive long-term investment returns and high fees – unless you actively choose the fund you want to stick with.

Most people don’t tend to look too closely at their super, so you could end up losing a chunk of retirement savings by simply ‘setting and forgetting.’

It could also mean your super is invested in ways that don’t align with your values; for example, if the fund isn’t committed to sustainable investing.

Your investment and insurance needs might also change as you progress in your working life – just like any relationship! Which is why many of our members value a super fund dedicated to them and their industry.

Take back the control

If you wouldn’t put your faith in a reality TV producer to match you with a life partner, maybe it shouldn’t be up to your first employer to choose your super fund for life.

While stapling means more of us will need to ensure we’re with a high-performing fund, you can be assured you’re already well matched with HESTA. 

We’re one of the only super funds to be awarded a 15-year platinum performance rating by SuperRatings. And as the industry fund dedicated to people working in health and community services, we work purely for you - not for shareholders. Find out why you can relax knowing your super is in safe hands.

so, are you ready to go steady?

We’d love to be your super partner for life – and here’s how having just the one fund could benefit you.

• Pay just one set of fees and costs
• Choose insurance that suits your needs 
• Keep your paperwork to a minimum 
• Easily keep track of what could be one of your largest investments.