Membermagazine. Growing the fruits of your labour. Flip over for your Annual Report! >

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1 Membermagazine AND ANNUAL REPORT 2004/2005 SEPTEMBER /05 COVER STORY Growing the fruits of your labour ALSO INSIDE Your super - is 30 minutes a year enough? Planning your retirement lifestyle Death insurance - how it works Flip over for your Annual Report! >

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3 Contents Member Magazine September 2005 Time for super 4 The average Australian spends 2,555 hours a year sleeping, over 364 hours a year travelling and around 910 hours watching TV. So shouldn t we be spending more than 30 minutes a year on our super? Planning your retirement to have some cake (and eat it, too!) 6 Getting your finances in order is only one aspect of planning for retirement. You need to plan how to spend your time as well as your money Keeping your loved ones out of deep water 8 Are you wondering how taking out death cover through your super fund works and who gets the money if you die? Read on for some answers to frequently asked questions about death cover Cover story: 10 Growing the fruits of your labour Steady growth cultivates healthy returns: All the news about HESTA s returns for Out and about in your industry 12 Find out what HESTA s been up to in your industry during Annual Report (Turn your Member Magazine over) CEO/Chair report 1 A joint message from HESTA s CEO and Board Chair Investment performance and strategic 2 asset allocations for How each of HESTA s investment options performed in Super update 4 Changes to super legislation during HESTA s accounts 5 Unaudited figures for and important information about your HESTA account Who takes care of your Fund? 6 Information about HESTA s Board of Directors Steps you can take if you have concerns about your super Important information 8 What you need to know about HESTA and your super Contact HESTA online by mail PO Box 600, Carlton South, Vic, 3053 by hesta@hesta.com.au by phone Freecall What you need to know about this Member Magazine, Annual Report and HESTA s products HESTA s Member Magazine and Annual Report are produced by H.E.S.T. Australia Limited ACN , AFSL No , RSE No. L , the Trustee of the Health Employees Superannuation Trust Australia. All care is taken to ensure that information is correct, but neither the Trustee nor its advisers accept responsibility for any error or misprint, nor for anyone acting on this information. This Magazine and Report are not intended as personal financial advice. For up to date information, please visit or call Third party services are provided by parties other than the Trustee and terms and conditions apply. The Trustee accepts no responsibility for the products and services offered by third parties or any liability for any loss or damage incurred as a result of services provided by third parties. You should exercise your own judgement with respect to the products and services being offered. Information provided is of a general nature. It does not take into account your objectives, financial situation or specific needs, so you should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this. HESTA s Product Disclosure Statement should be considered when making a decision about the Fund. Visit or call for a copy. Please note that investments can go up and down. Past performance is not necessarily indicative of future performance. Copyright: H.E.S.T. Australia Limited 2005 MemberMagazine September

4 Thirty minutes a year - is it enough? Time for super The average Australian spends 2,555 hours a year sleeping. We also spend just over 364 hours a year travelling, 182 hours cleaning the house and around 910 hours a year watching television. So shouldn't we be spending more than half an hour a year thinking about our super? When the average Australian sets out to buy a car, they may spend weeks weighing up their options. Buying a house sometimes takes months, or even years, of searching, planning and saving. Even smaller financial purchases such as a stereo, DVD player or computer take more than a couple of hours of shopping around. And yet recent research revealed that the majority of HESTA members spend less than 30 minutes a year thinking about what is usually the biggest investment they have after their home - their super. The research conducted in May this year found that even though the advertising and education campaigns surrounding the introduction of choice of fund legislation have raised awareness of superannuation, it has not translated into increased time spent in thinking about super and how it works for individuals. Seventy-three percent of respondents said they spent less than 30 minutes a year thinking about their super, while a further 10% found less than an hour to devote to the task. Only 6% said they spent more than three hours on their super. There s a very common perception that superannuation is complicated and difficult to understand, says Anne-Marie Corboy, HESTA s CEO. I suspect that s why for so many people it ends up in the too hard basket. But it s really not that hard. What you do with the money you receive in retirement can be much more complicated, but the accumulation phase of superannuation, for most people, is very straightforward. It just deserves a little more time than 30 minutes a year. So what s to think about? Many people think of superannuation as a set and forget part of their lives - their employer sets it up and puts money into it on their behalf and it s not something they have terribly much control over. However, this is something of a misconception. Even though your employer contributes money to your fund, superannuation is still your savings for your retirement. You are still able to control things such as which investment option your money is invested in and how much you contribute yourself, Anne-Marie says. It s worth taking the time to find out about your options within your super fund and thinking about how you can make them work for you. Here are some ideas to get you started. Are you in the right investment option for you? HESTA offers different investment options so you can choose the one that most closely meets your needs and retirement objectives. If you haven t already made a choice then your money is invested in HESTA s default option, Core Pool. This may turn out to be right for you, but you ll need to spend some time finding out about it and comparing it with the other options on offer before you decide. To help make a considered decision, look at: How comfortable you are with receiving returns that are different to what you expected How long you have until retirement Whether you need to seek financial advice Once you are happy with the option you have selected, make a note to review it at least once a year to see if it still meets your needs. To find out about HESTA s investment options, visit or call for a copy of our Member Investment Choice booklet. 4 MemberMagazine September 2005

5 Will you have enough? That s a big question. First you need to work out how much will be enough to live the life you want in retirement. Whether you ll have that amount depends on how much super you have now, how much is being contributed to your account, the fees being charged, the returns on your super and how long you have until you retire. You can use the Super Calculator at to help you estimate what your super balance may be in the future and how long it may last. How do you contribute more to your super? If you think that you won t have enough, you can help make your super grow by adding to the contributions your employer makes. You can do this from before-tax income (salary sacrifice) or from after-tax income. A benefit of making after-tax contributions to your super is that, if you are eligible, the Government may give you a helping hand by making a co-contribution to your super of up to $1,500 per year. To find out more about the co-contribution, visit or For information about making extra contributions to your HESTA account, talk to your employer, visit our web site or call Do you have more than one super fund? If you have more than one super fund, consider consolidating them all into one account. This can also help to grow your super because you ll only be paying one set of fees and insurance premiums. Before you go ahead, check the exit fees, any extra benefits and the insurance arrangements of the funds you re rolling out of. Sometimes, the fees can be so high that it may be best to leave your money where it is. Also, your insurance arrangements may cease, or provide a different type of cover. If you think you have more than one super account but you re not sure how to track them down, try or the Tax Office s SuperSeeker at Rolling your other super accounts into HESTA is simple - just fill in the Member Rollover Form (available at or by calling ) and we ll contact your other funds for you. Do you have disability or death insurance through your super fund? Chances are that, unless you specifically said no to insurance when you joined HESTA, you will have at least minimum disability income protection and death insurance. Is it enough to meet your needs? The first step is to find out what cover you have now and then think about whether the amount of benefit that may be paid would cover all the expenses you need it to. Although taking out insurance through your super fund is generally cheaper than purchasing it directly, keep in mind that the premiums for insurance through your super fund come out of your super account so increasing your premiums will impact on your super balance. To find out more about HESTA s income protection and death insurance, visit the web site or call To understand what cover you currently have, look up your Annual Statement or visit and view the details through Member Online. What other benefits does your fund offer and are you taking advantage of them? Many superannuation funds offer access to other products and services, including financial products you can use long before you retire. For example, HESTA members have access to low cost banking products, managed funds with no entry or exit fees, financial planning services and discount heath insurance. According to Rainmaker Information s SelectingSuper ( HESTA is among the top ten super funds surveyed offering the most extra benefits and services. For more information on what you can access through your HESTA membership, visit or call MemberMagazine September

6 Plan to look forward to a long and fulfilling life Planning your retirement to have some cake (and eat it, too!) People who are planning their retirement know how important it is to work out their finances. But retirement isn t just about making the money last. What about planning how you will spend your time, as well as your money? Many people see retirement as one endless leisure activity, or the chance to do all those things you never had time for while you were working. However, for just as many people, the thought of losing the structure and social networks of paid employment can be daunting. Having a plan for your life in retirement that includes more than just your income can help to ease the transition. Leaving full-time work can be fraught with concerns that you will no longer have a sense of purpose and value, says Kaye Fallick, publisher of Your Life Choices, a retirement and lifestyle planning magazine. Working out how to structure your activities will help alleviate some of these concerns. It will also indicate what level of income you re likely to require to support your planned lifestyle and enable you to plan for this, or to modify your expectations, before you hit retirement. With life expectancy increasing, the time you spend in retirement is getting longer. According to the Association of Superannuation Funds of Australia (ASFA), women can expect to live until age 82 and men to age 77. That means that if you leave work at 65 you could expect to spend at least 12 to 17 years in retirement. That s a lot of years to just fill in time. Planning your daily activities will help to make them more fulfilling and enjoyable. Getting started before you leave work Having an idea of what you ll fill your days with in retirement and beginning to implement it before you finish work can help you to see if your plan will work. Some experts suggest taking a period of leave without pay or several weeks of annual leave and spending it as you intend to spend it in retirement. Can you see yourself living your plan for over a decade? It might also be worth easing into retirement by dropping back to part-time work if this is possible for you. That way you can maintain the structure and social networks of paid employment (not to mention stretching your income for longer) while beginning to lay the groundwork for your life in retirement. Research suggests that this may be a preferred option for baby boomers and it is also something that is being encouraged with changes to access rules for superannuation for those aged over 55 (see the Super Update on page four of your Annual Report for more details). What is your partner planning? It s easy to dream of having more time to spend with your loved ones in retirement, but are your loved ones also dreaming of spending more time with you? According to Kaye, one of the potential pitfalls of too much leisure time is the strain it can put on relationships with your nearest and dearest - particularly your partner. If you and your partner are retiring at the same time, it s a good idea to check that you are planning the same retirement! Those in long-term relationships often make the assumption that they know what their other half is dreaming of in retirement but they are often painfully wrong, Kaye says. Sitting down together with a diary and scheduling a mock week in retirement will soon reveal if your plans are seriously at odds with your partner s. It s best to sort it out beforehand, allowing for time apart and together, so there are fewer negative surprises ahead. Putting your plan together Just like the financial aspect of retirement planning, lifestyle planning shouldn t be left until the last minute. Research conducted by La Trobe University s Lincoln Centre for Ageing and Community Care Research in Melbourne in 2004, found that retirees who had hobbies and fruitful leisure pursuits before they left work were most likely to be happy retirees. And, if you are planning to work part-time instead of giving up work completely, you will need to plan ahead. The Queensland Government Department of Communities web site suggests that you think about issues such as the following when planning your retirement lifestyle: What recreational activities do you enjoy now and can you continue them when you retire? What have you always wanted to do and not had time for? Are there things you ve always wanted to learn if you had the time? Are there activities you were involved in when you were younger that you could take up again? What skills do you have that you could use or pass onto someone else in a voluntary capacity? What type of activities would you be interested in doing on a voluntary basis? What types of organisations are you interested in assisting? (A guide to retiring - planning your lifestyle The best strategy in planning your retirement lifestyle is to consider a cocktail of the things that make your soul sing, Kaye suggests. You might think of working two days a week using skills you already have, half a day playing sport, one day a week visiting family, one day a week volunteering for your local council and a few hours learning a language. It s not that hard to come up with a mix that excites you. If you also include some physical exercise as well as some reading, crosswords or games of skill, you stand a good chance of leading a long, fulfilling and very happy life. 6 MemberMagazine September 2005

7 Funding your lifestyle Although income planning shouldn t be your sole focus when it comes to planning for life in retirement, how you ll fund your lifestyle can t be overlooked. According to the Westpac-ASFA Retirement Living Standard Index ( couples require around $44,000 a year for a comfortable retirement, while singles require around $33,000. How does this compare with your current and expected expenditure? The Victorian Government s Better Health Channel web site at suggests that financial factors to consider include: How much superannuation you have Other savings and assets Whether you have any dependants Whether you will continue to work part-time Your eligibility for the pension or part pension The kind of retirement lifestyle you re anticipating It s a good idea to write your own expected living costs budget and stick to it for a month, Kaye suggests. How did you go? Will you realistically be able to support your planned lifestyle on your expected income or do you need to make adjustments? When it comes to planning your income in retirement, HESTA can help. HESTA members have access to commission-free financial planning services through Industry Fund Financial Planning (IFFP) with a free initial consultation. Visit or call for more information. HESTA members also have access to the IRIS Allocated Pension and IRIS Term Allocation Pension, offered through Super Members Investments Limited (ABN AFSL No ). These products have no entry or exit fees and no commissions are paid to financial planners. For more information, contact IRIS on or visit IFFP is an operating division of Industry Fund Services Pty Ltd (ACN , AFSL No ). HESTA owns shares in Industry Fund Services and Super Members Investments. family garden travel study sport/ hobbies volunteer work part-time work MemberMagazine September

8 Who gets your super when you die? Keeping your loved ones out of deep water Taking out death cover through your super fund can help to make sure your family is not left in deep water financially if you die. Below are some frequently asked questions about applying for death cover and how your death benefit is distributed. What is death cover? When you take out death cover through HESTA, this amount is added to your account balance when you die to form your super death benefit. Your death benefit can provide your estate or your dependants with a lump sum payment for the amount of your cover plus your account balance (less any tax that may apply), subject to eligibility and the conditions of the policy. How much money is provided depends on how many units of cover you have. Eligible HESTA members are automatically provided with standard cover of one unit, entitling them to insurance of up to $80,000 (this amount decreases after age 35). However, you can apply for extra units of up to $2 million of cover. How much death cover do I need? The amount of cover you take out should aim to meet ongoing living expenses of your dependants, including any mortgage, loan or credit card repayments, home maintenance costs, education expenses and funeral costs. You can use the Death Benefits Calculator at to estimate how much death cover you may need. Insurance premiums are deducted from your super account, so it s important to consider the effect of these deductions on your retirement savings when deciding how much cover you require. Who receives my death benefit when I die? Under HESTA s Trust Deed, and in accordance with the Superannuation Industry (Supervision) Act (SIS), HESTA s Trustee has the final decision as to whom the death benefit will be paid. In reaching its decision, the Trustee will consider any dependants you nominate as your preferred beneficiaries. The Trustee may pay your death benefit to the following people: Your dependants - spouse, children or financial dependants; and/or A person who has an interdependent relationship with you; and/or Your legal personal representative on production of either a grant of probate where there is a valid will, or 8 MemberMagazine September 2005

9 letters of administration where there is no valid will. Charities or organisations like lost dogs homes are not considered eligible for superannuation death benefits. Who is considered a dependant? Under HESTA s Trust Deed, a dependant is: Any person, who in the opinion of the Trustee, was at the date of death, wholly or partially financially dependent on you or had a legally enforceable right to look to you for financial support or, even if not financially dependent, A spouse, including a de facto spouse A child, including an adopted child, stepchild and ex-nuptial child Any person who the Trustee considers to have been in an interdependent relationship with you at the time of your death Who is considered interdependent? From 1 July 2004, the definition of who is eligible to receive tax-free death benefits has been expanded to include an interdependency relationship. This is defined as a close personal relationship between two people who live together, where one or both provides the other with financial support, and one or each provides the other with domestic support and personal care. This means that same-sex partners, siblings and adult children caring for elderly parents may be eligible. The definition also includes a person with a physical, intellectual or psychiatric disability who may live in care but is still interdependent with the deceased on the other criteria. The change does not apply to deaths that occurred prior to 1 July In addition, the Government recently released draft regulations (which may be subject to change) setting out a list of matters that the Trustee must take into account when determining whether there is an interdependency relationship. All the circumstances of the relationship, including the following matters, are to be considered: the duration of the relationship; and whether or not a sexual relationship exists; and the ownership, use and acquisition of property; and the degree of mutual commitment to a shared life; and the care and support of children; and the reputation and public aspects of the relationship; and the degree of emotional support; and the extent to which the relationship is one of mere convenience; and any evidence suggesting that the parties intend the relationship to be permanent; the existence of a statutory declaration signed by one of the persons to the effect that the person is, or (in the case of a statutory declaration made after the end of the relationship) was, in an interdependency relationship with the other person How do I nominate my beneficiaries? You can nominate or change your preferred beneficiaries at any time by: Using Member Online at (you will need a PIN to access Member Online - visit the web site for more information or call ) Completing a HESTA Change of Member Details form (available from HESTA s web site or by calling ) Writing a signed and dated letter to HESTA stating the names of your preferred beneficiaries, their relationship to you (eg, spouse or partner, or person you have an interdependency relationship with) and the percentage of your death benefit you would like paid to each Because the Trustee will consider your preferred beneficiaries when deciding who receives your death benefit, it s important to keep your nominations up to date. If your circumstances change, such as marriage, divorce or the birth of a child, you may wish to review your beneficiaries. When nominating beneficiaries, it s also important to keep in mind the tax implications for your beneficiaries of receiving your death benefit. Death benefits paid to dependants may receive tax concessions and in many cases may result in the benefit being tax-free. Leaving your super to your estate or adult children may also have tax consequences. You may wish to consider seeking appropriate taxation advice when nominating your preferred beneficiaries. For more information on HESTA s death cover, download a copy of our Income Protection and Death Insurance Information and Application Form booklet from or call HESTA and the Welfare Rights Centre HESTA members have access to the Welfare Rights Centre, a community legal centre specialising in social security law and its administration by Centrelink. The Welfare Rights Centre can assist members who are confronted with a loss of family income by providing advice and assistance on social security matters and by liaising with Centrelink on their behalf when necessary. The Centre can also refer members who require advice on other legal or welfare matters to appropriate organisations for assistance. For more information and individual state contact details, visit MemberMagazine September

10 Meeting long term expectations Steady growth cultivates healthy returns Your superannuation is your hard-earned money growing over time for your retirement. And, naturally, you want the end results to be fruitful. When your super fund declares a positive return, it means more money in your super account. What s also important is the difference between the declared return and inflation - this gives you an idea of your real spending power in retirement. An investment option that gives you a higher return than inflation is growing your real wealth for retirement, says Rob Fowler, HESTA's Investments and Governance Manager. "For example, Core Pool's return to 30 June 2005 was 13.4%. The inflation rate was 2.5%*, therefore Core Pool grew your real wealth by 10.9%." It s typically cited by industry experts that average returns for share investments are around 8% to 9% per annum and that the extreme highs and corresponding lows of the past few years are not the norm. That s why HESTA s long term strategy aims to achieve steady growth for members over the long-term, regardless of how markets are behaving, rather than trying to outperform the share market at all times. We expect the return for Core Pool to be above the inflation rate over the long term, Rob says. The fact that it has achieved the long-term returns expected of it shows the importance of sticking to a long-term strategy rather than moving in and out of asset classes in response to the market. Trying to switch from one asset class to another, particularly in a market as volatile as it has been in recent years, is rarely successful. Sticking to a diversified longterm investment strategy instead of trying to time the market has been one of the keys to HESTA s success over the long term. What happened in ? Although the extreme volatility of recent years seemed to settle somewhat in the financial year, continued uncertainty about the global economy, especially the US economy, and increasing oil prices caused constant ups and downs in international share markets. For the Australian share market however, it seemed the only way was up until March, when it experienced its first negative monthly return since April The downturn continued into April 2005, driven by investor concern over the global and Australian economies and persistently high oil prices. However, it bounced back during May, in part because of a more positive outlook after personal income tax cuts were announced in the Federal budget. The strong returns in the Australian share market for most of the financial year has had a big impact on Core Pool s return for , as the largest individual asset class investment for Core Pool is in Australian shares, says Rob. Also, most of our small companies managers have performed well and achieved returns well above the general market. Core Pool s exposure to overseas shares was partly protected from currency fluctuations as 40% of Core Pool s assets in overseas shares were hedged (see page three of your Annual Report for an explanation of currency hedging). Returns from international equities markets have been subdued and the effect of a stronger Australian dollar is evident in the difference between the returns of the Overseas Share Pool (no currency hedging) and the Your Choice International Shares Asset Class (40% hedged). Property and Infrastructure have both performed well this year and have provided additional stability to the returns of Core Pool and Shares Plus, Rob adds. They have also provided strong returns for Your Choice investors. The strong returns from these unlisted assets reinforce the benefits of diversifying investments across different asset classes. 10 MemberMagazine September 2005

11 The price of oil and your super The price of petrol is not the only thing that is affected by rises in crude oil prices, although that s where you probably notice it first. Rising oil prices can also affect the behaviour of investment markets and, therefore, the returns of superannuation funds. Higher oil prices lead to higher costs of manufacturing, higher costs of living and, usually, higher inflation, Rob says. All these things affect the economies of individual countries as well as the global economy. Economic concerns lead to investor uncertainty about where to invest, which impacts on share and bond markets and affects returns to investors, such as super fund members. The diversification of Core Pool helps ensure that it is positioned for rising or falling oil prices, as there is some protection against possible higher levels of inflation. This comes from the ability of HESTA s fixed interest managers to invest in inflation linked bonds, HESTA s exposure to absolute return strategies whose returns are not linked to either shares or fixed income and investments in infrastructure where revenue will grow with inflation but costs are usually less affected by inflation. HESTA also constantly investigates other investment opportunities to further enhance the ability of Core Pool to weather any possible outcome of increased oil prices. In line with this, the strategic asset allocations for Core Pool and Shares Plus were recently revised to incorporate an allocation to commodities, as the returns of this asset class are often linked to the inflation rate. Given the difficulty of predicting the future behaviour of oil prices, members may wish to consider the diversification of their super investments and their ability to benefit and gain protection during both good and bad market conditions, Rob says. If you do decide on a more widely diversified portfolio, or different investment option, you can compare the asset allocation and performance history of each of HESTA s investment options using the Investment Comparator at To access, click on the Investment Info button on the home page then choose Compare investment options from the Quick Links. For more information about the returns and investment objectives of HESTA s investment options, turn to pages two and three of your Annual Report. Please note that investment performance can go up and down. Past performance is not a reliable indicator of future performance. *Inflation rate CPI Year to June Source: Reserve Bank of Australia. Your investment choices If you have not chosen otherwise, your super is automatically invested in Core Pool. However, you do have other choices. HESTA s Member Investment Choice offers six professionally managed Ready-Made Investment Pools (including Core Pool) and eight Your Choice Asset Classes to choose from. You can also mix and match between options and nominate different strategies for your current balance and future contributions. There are no fees for switching your investment choice and you can notify a change at any time. As long as we receive your completed Member Investment Choice form or notification via Member Online before the end of the month (from October 2005), your changes are effective from the start of the following month. However, think twice before making changes based solely on one year s performance. Remember that super is a long-term investment and you should consider your risk profile and retirement goals before altering your strategy. You may also wish to seek financial advice. For more information about HESTA s investment options, click on Investment Info at and choose What investment choices do you have? from the Quick Links. Owning a piece of your industry As a HESTA member, some of your savings are invested in the health and community services sector. These investments include shares in companies like: CSL Limited Resmed Sonic Healthcare Primary Healthcare Mayne Group Ramsay Healthcare DCA Group Limited Genepharm Australasia Limited Healthscope Limited Invocare Limited Mesoblast Limited So, not only are your savings growing for your retirement, they re also being used to support your industry. MemberMagazine September

12 Out and about in your industry HESTA believes that everyone is a specialist in their field. That s why we support your industry by attending conferences and educational seminars and getting behind awards that recognise dedication and professionalism and provide encouragement for further training. Mother s Day Classic Australian Nursing Awards Web Site Competition The 2005 Mother s Day Classic, organised by Women in Super and supported by HESTA, attracted over 21,000 people to the walk/run events held in Melbourne, Sydney, Brisbane and Adelaide. Fundraising events were also held in Perth and Hobart. Winner of the major HESTA scholarship award, Karen Atkinson, with HESTA Manager Carole Menere. Photo courtesy of The Australian Nursing Awards presented by HealthStaff Recruitment. HESTA was again a major supporter of the 2005 Australian Nursing Awards, proudly presented by HealthStaff Recruitment. The Awards, now in their third year, aim to provide national recognition of outstanding nurses and encourage skills advancement in the nursing profession. As part of the Awards, HESTA Professional Development Scholarships were awarded to three nurses to further their studies in the speciality of their choice. The major scholarship winner was Karen Atkinson, the Koori Midwife at Western Health, Sunshine Hospital, Victoria, who, in completing her Nurse Practitioner Endorsement, will become the first Indigenous Women's Health Nurse Practitioner in Victoria. The scholarship will help Karen foster understanding of the particular needs of indigenous women's health. The other scholarship winners were Marie Shepherd, Family and Child Health Nurse at the Family Child & Youth Health Service, Launceston, Tasmania and Nicholas Marlow, Area Manager of Acute/Post Acute Care (APAC) at Northern Sydney Health, Royal North Shore Hospital, NSW. Karen and Mark Fink near the King Leopold Range, Mornington Wilderness Camp, W.A. Congratulations to the winner of the HESTA Web Site Competition, Karen Fink of Armadale in Victoria. Karen, who works at Melbourne's Alfred Hospital, was thrilled to win a $5,000 travel voucher courtesy of Reactive Media towards the holiday of her choice. She chose an adventure holiday in the Kimberley region of Western Australia and, starting from Cable Beach in Broome, travelled up the Gibb River Road with her husband Mark, stopping at places such as the Mornington Wilderness Camp, Mitchell Plateau and El Questro Station. All proceeds from the Mother s Day Classic are donated to the National Breast Cancer Foundation, a not-forprofit organisation established to promote and support research into breast cancer prevention and treatment. The Mother s Day Classic has now raised over $1.7 million for the Foundation since 1998 and in the process has become one of Australia s largest charity events. Nurse TV HESTA is proud to be a major supporter of the new series of Nurse TV which has been airing at 8pm on Monday nights on both Channel 31 Melbourne and nationally on Foxtel Digital s Aurora channel. Covering topics such as nursing education, mental health, workplace safety and midwifery, Nurse TV features the real life of nurses at work and the challenges and issues they face in carrying out their day to day duties. 12 MemberMagazine September 2005