Welcome to HESTA. March make it count

Transcription

1 Welcome to March 2018 make it count

2 Camille Koch Registered Nurse Winner - Individual Distinction Award Aged Care Awards 2

3 hello and welcome You ve joined the super fund dedicated to people like you, people who provide some of the best health and community services in the world. We re here to help you save for your future and turn your dream retirement into a reality, so you can live your very own version of happy ever after. These pages will help you understand how your super works, what you can do to save more and where to turn if you need help boost your savings one happy place keep in touch here for good here for you 3

4 feel good decision You have every reason to feel good about your decision to join. 4

5 Our main aim is to give you the freedom to choose how you spend your spare time in retirement. No matter what anyone says, you don t need a fortune to live the good life. If you re doing ok on your current wage, there s no reason why you won t be able to retire comfortably. There are three key elements to getting your super working for you. boost your savings keep in touch one happy place 5

6 01 boost your savings Your super is a solid investment in what matters most you. That s why putting in a bit extra can make a real difference to your future. 6

7 What s even better is that when you put in extra, there can be tax advantages and bonuses to make it even more worth your while. Remember, you don t need to put in huge amounts to boost your savings. A small sacrifice You should know If you take out your super balance before you turn 60, you may have to pay extra tax on contributions you have made. Speak to your employer or payroll officer about starting to salary sacrifice. If you are selfemployed or your employer will not help you to salary sacrifice, you can claim a tax deduction for personal super contributions. Visit ato.gov.au One of the most popular ways people increase their super is through salary sacrifice. This means a set amount goes straight into your super from your before-tax income. The best part? You only pay 15% tax on the money you put into super, compared to your normal income tax rate. However, if you salary sacrifice, it may impact the amount of super your employer pays. If you re a low income earner, there may be little to no advantage salary sacrificing*. After-tax contributions may be another option for you. To learn more visit ato.gov.au or speak to a financial adviser. Yearly contribution limits You can contribute up to $25,000 p.a. to your super before-tax including any contributions your employer makes on your behalf. *Any contributions before tax are included in the income test for the government co-contribution and other benefits. 7

8 topping up your super We know it can be hard to find that little bit extra to keep aside, but putting in a bit extra now could mean enjoying more of life s joys later on. 8

9 You can choose to put in extra to your super after you get paid. This is called an after tax contribution because this money has already been taxed. Planning to top up your super by making after tax contributions? You can put in a maximum of $100,000 p.a. to your super. You can only add to your super if we have your tax file number. This will also ensure you pay the correct tax rate on your contributions. You can use your BPAY reference to start topping up your super. You can find it on your statement or in your Member Online account at hesta.com.au/mol If you get a bonus at work, or perhaps money from an inheritance, this is a great opportunity to put in a lump-sum amount. The rest of the time, you can add what you can, when you can. Setting up a regular direct debit from your bank account is often the easiest way to do this. Get something back If your total income is less than $51,000 and find extra to put towards your super, you could be rewarded for doing so. The government co-contribution is a super top up where you could get up to a total of $500 extra every financial year. Find out if you are eligible and what you could receive at hesta.com.au/gcc 9

10 02 one happy place Your super is your money. Just think of it as a separate, long-term savings account that you ll access later in life. As with any savings, the more that s in it the more it could earn. That s why it s important for you to keep all your super together in one place. 10

11 If you ve worked at different places, there s a chance you have a few super accounts. This means you could be paying extra fees. By rolling any other super funds into your account, your super will be easier to keep track of. Take your super with you whenever you change jobs. Ask each employer to pay contributions into and give them a Choice of Fund form available at hesta.com.au/forms Log in and update your personal details at hesta.com.au/mol To roll your other super accounts into : 1. Visit hesta.com.au/mol Using your member number and password, log in to Member Online, navigate to consolidate super and click the Search for your fund box. Alternatively, click the Find your other super button, to possibly find funds you didn t even know you had! 2. Find your other accounts Enter your member account number of the fund you want to transfer funds from. 3. Complete Simply confirm all the details are correct, and you re done! You have now rolled your super together in one happy place. 11

12 03 keep in touch Your Member Online account is just like online banking for your super. You can check on your super balance, change insurance options, view your investment choices and update your personal details. 12

13 Once you log in to your Member Online account, your address will be registered with us. This way, we can keep you in the loop with news that might impact you or your super, as well as get statements to you more quickly via . Log in to your account at hesta.com.au/mol Digital member card Keep your member details easy to access anytime and anywhere by downloading your digital member card into your smartphone s digital wallet. Download yours today at hesta.com.au/card 13

14 04 here for good Professional advice can be invaluable when it comes to planning for the future. Our team of qualified professionals can chat to you over the phone or in person. Although you probably manage the household finances and are a whizz at making your budget stretch, you may not have thought about how to get your super working harder. (And if we re honest, you probably don t even have the time!) Our professional financial planners can tell you everything you need to know about retirement, budgeting, the finance market, Centrelink, interest rates or basic finance. You can read more at hesta.com.au/advice 14

15 We can help you make the most of your money through our education and advice service. You can choose from: one-on-one personalised consultations workplace education sessions online calculators at hesta.com.au/ calculate Improve your skills Try s Money 101 education tool. It can improve your financial confidence with your super, retirement, family finances and personal budgeting at hesta.com.au/money101 There are no extra fees to pay on our super advice and you can access low cost financial planning so get in touch and let s talk. Future getting closer? If you need help with retirement planning, you can arrange a session with our Superannuation Advisers for a low fixed fee. This can be deducted from your account. We also run retirement planning sessions across the country. Check out the current calendar at hesta.com.au/seminars 15

16 05 here for you More than 80% of our members are women, so we understand you give a lot of yourself to others both at work and in the home. That s why we do more to make sure you are supported and rewarded. 16

17 Super is there for when you re ready to retire, but being protected against the uncertainty of life is something gives you right now. Eligible members are automatically insured against the unexpected with our standard low cost insurance. This insurance is paid for from your super account, so you don t have to dip into your weekly budget to pay for insurance fees or remember to renew each year. Free cover during parental leave Yep you heard it right. We won t charge insurance fees for your insurance cover while you take up to 12 months of approved parental leave. Cover can be adjusted to suit your needs. You can apply to change your insurance cover to a mix of Income Protection, Death or Lump-sum Total and Permanent Disablement Cover by completing a full Personal Health Statement in the Insurance cover application form within Insurance Options, or apply via Member Online at hesta.com.au/mol Check your current insurance details by logging in to hesta.com.au/mol Low cost insurance for members Optional Lump-sum Total and Permanent Disablement (TPD) Cover to age 70 Standard Income Protection (IP) to age 67 in case you need to stop working due to injury or illness Standard Death Cover to age 75 IP Cover also features a lump-sum payment of $10,200 to support eligible members who are unable to return to work. See hesta.com.au/insurance for more details. 17

18 awarding good work Now you re a member you re part of a national program that rewards people like you, and the life changing work you do. Make the most of your membership and nominate someone you know who deserves to be recognised. You never know - you might even end up with an award yourself! Find out more at hestaawards.com.au Anne Mitchell Homeless youth support and advocacy Winner - Unsung Hero Award Community Sector Awards

19 Get in touch phone find us online hesta.com.au write to us Locked bag 5136 Parramatta, NSW 2124 Issued by H.E.S.T. Australia Ltd ABN AFSL No , the Trustee of Health Employees Superannuation Trust Australia () ABN This information is current as at 1 March While every attempt has been made to ensure the accuracy and reliability of the information, it is not guaranteed in any way. This information is of a general nature. It does not take into account your objectives, financial situation or specific needs. You should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this. Investments may go up or down. Past performance is not a reliable indicator of future performance. Product ratings are only one factor to be considered when making a decision. See hesta.com.au for more information. Financial Planners are Authorised Representatives of Industry Fund Services Limited (IFS) ABN AFSL IFS are responsible for the advice given by its representatives. H.E.S.T. Australia Ltd has shares in the company that owns IFS, but does not receive any commissions as a result of members using their services. Associate Superannuation Advisers and Superannuation Advisers are representatives of H.E.S.T. Australia Limited. Before making a decision about products you should read the relevant Product Disclosure Statement (call or visit hesta.com.au for a copy), and consider any relevant risks (hesta.com.au/understandingrisk).

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