Membermagazine. Nursing s night of nights. Are you covered? See page 6 & 7. Don t leave your super behind. GROW YOUR SUPER FASTER, find out how!

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1 Membermagazine MARCH 2007 Inside: Nursing s night of nights Don t leave your super behind GROW YOUR SUPER FASTER, find out how! Are you covered? See page 6 & /07

2 CEO Message This is a very exciting year for HESTA marks 20 years since our inception. We are delighted that throughout our history we have never delivered a negative annual return on our default option, Core Pool, where the majority of our members have their super. Not many funds can say that. On another note, we are thrilled to be presenting the 2007 HESTA Australian Nursing Awards in May. Australia is fortunate to have such a highly skilled nursing workforce, with both registered and enrolled staff working in many areas of specialisation. CONTENTS Nurses don t generally look for thanks or glory, and there are a myriad of unsung heroes in the profession, worthy of accolades. So the HESTA Australian Nursing Awards is a great opportunity to thank our nurses, recognise their commitment and skill, celebrate their achievements and the significant contribution they make to our nation s wellbeing. Member Magazine March 2007 This year we are also continuing our strong focus on member education. As a fund, HESTA takes its responsibility to provide information and advice to members very seriously and we hope to help you feel more confident in making your decisions about super. We are continuing to develop our new education team and hope to be providing a greater level of financial information and education to our members than ever before. HESTA s Member Education Managers in each State are offering HESTA members even more access to additional education about superannuation and finance matters generally. Rewarding Australian nurses 5 Are you covered? 6 Making your way into retirement 8 Grow your super faster 10 Caring for the super of over 580,000 of us. Give your super a booster shot 11 Out and about in your industry 12 Contact HESTA In addition, we have continued to lobby for improvements in the superannuation system, particularly in relation to women members who comprise 85% of our Fund. HESTA will continue to strive for strong investment returns, provide quality services to members and support health and community services as we have only one end-goal and that is to increase your retirement incomes. Anne-Marie Corboy Disclaimer While we re busy taking care of others, HESTA is busy taking care of us. A TOP RATED FUND H.E.S.T. Australia Ltd RSE No. L HESTA Super Fund Reg. No. R Consider our Product Disclosure Statement when making a decision about HESTA call or visit for a copy. online hesta@hesta.com.au phone Freecall mail PO Box 600, Carlton South, Vic, 3053 What you need to know about this Member Magazine and HESTA s products. HESTA s Member Magazine is produced by H.E.S.T. Australian Limited ACN , AFSL No , RSE 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 is not intended as personal financial advice. For up to date information, please call or from outside Australia call or visit 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 judgment 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. Call or visit for a copy. 6 2 MemberMagazine March MemberMagazine March 2007

3 Investment News Looking to the long-term Superannuation is generally a tax-effective way to save, but usually cannot be accessed until retirement, which for many people may be over a decade away. So it makes sense that investment strategies for superannuation should not usually be focused on the short term. However, some people do consider changing their investment strategy from one investment to another if the short term returns for one are better than the other. HESTA CEO Anne-Marie Corboy says superannuation investment performance generally needs to be judged over the long term. Taking a short-term approach to super generally will not lead to a larger account balance in the longer term. HESTA Investments and Governance Manager Rob Fowler stresses the importance of thinking long term when it comes to super. You may wish to structure your super investment choice for the long term and not let the short term differences in yearly returns across different investment choices cause you to change from that strategy. It is however prudent to regularly review your situation. Obviously if your circumstances change and you reassess your investment goals, that may be a sound reason to review your investment choice. A short term strategy may sometimes be appropriate. HESTA structures its asset selection (eg overseas shares, Australian shares etc) aiming to achieve strong long-term returns. Some years HESTA s returns won t be top of the charts (particularly when Australian or overseas shares deliver strong returns) but in individual years AND over the long term (ie 5+ years) HESTA aims to be high on the charts, Rob said. Anne-Marie points out that HESTA has a record of strong long-term investment returns and that if you are considering changing your investment strategy you should consider seeking the assistance of a financial adviser to make sure you are sticking to your overall investment plan and not chasing last year s winner. As a HESTA member you are able to access some advice about your super through our superannuation service Advisers. You are also able to access commission-free broader financial planning advice through Industry Fund Financial Planning, Anne-Marie said. Please note that investments can go up and down. Past performance is not necessarily indicative of future performance. Industry Fund Financial Planning (IFFP) is an operating division of Industry Fund Services (IFS), AFSL No HESTA owns shares in IFS. Rewarding Remarkable Nurses Nurses are the heart of the world-renowned Australian health system. There are a quarter of a million of these health professionals working tirelessly to save lives and provide physical, mental and emotional care to patients and their families. Australia is fortunate to have such a highly skilled workforce, with both registered and enrolled staff working in many areas of specialisation. In support of the health and community services industry, HESTA is proud to present the HESTA Australian Nursing Awards. There are three categories and a finalist from each category in every State/ Territory will be flown to Melbourne as the awards culminate in a gala evening at Palladium at Crown Casino. The categories are: Nurse of the Year Award Graduate Nurse of the Year Award Innovation in Nursing Award HESTA CEO Anne-Marie Corboy encourages nurses and members of the general public to make a nomination. CATEGORIES Nurse of the Year Award The Nurse of the Year Award recognises the achievements of individual nurses in the delivery of outstanding patient care. Nominations for this award may be made by nurses, patients, families and friends of patients or colleagues who wish to acknowledge the provision of care they considered to be exceptional and above standard nursing practice. Graduate Nurse of the Year Award The Graduate Nurse of the Year Award recognises the outstanding performance of a registered nurse in their graduate year. Coordinators of the Graduate Nurse Program in hospitals and healthcare facilities are encouraged to make nominations for this award. Innovation in Nursing Award The Innovation in Nursing Award acknowledges nurses, midwives and personal care attendants who have created innovative products and services or processes that benefit patients and/or the community. Nominations for this award may be made by individuals or teams, seeking support in further developing an innovative product, service or process, that has not yet been commercialised. Changes to the strategic asset allocation of HESTA s Ready-Made Investment Pools To enable earlier adoption of investment opportunities, from 1 April 2007 HESTA may change the strategic asset allocation (SAA) of the Ready-Made Investment Pools prior to notifying members. HESTA has always followed this approach for Core Pool. In the past HESTA has notified members in advance of making changes. In future members may be notified after changes have been made. This enables any refinements in SAA to be made simultaneously across all of the affected Ready-Made Investment Pool options. Changes to the SAA of all pools will be reported immediately on the HESTA website and then highlighted in the Annual Report or Member Magazine. Eco Pool is diversifying From April 1, 2007 the strategic asset allocation (SAA) of the Eco Pool will be diversified to include a 10% allocation to Australian property that demonstrates appropriate green credentials.the SAA of Australian shares and international shares have reduced by 5%. The revised SAA for the Eco Pool will be 45% Australian shares, 35% international shares, 10% property and 10% cash. Nurses don t generally look for thanks or glory, and there are a myriad of unsung heroes in the profession, worthy of accolades. So the HESTA Australian Nursing Awards is a great opportunity to thank our nurses, recognise their commitment and skill, celebrate their achievements and the huge contribution they make to our nation s wellbeing. Nominate today. There are $25,000 worth of prizes up for grabs (kindly provided by third parties) for the winners and you could even win a prize just for nominating. (Authorised under Permit Nos. NSW TPL06/14308 & ACT TP06/05219) Prizes Nurse of the Year Award $5,000 scholarship $5,000 travel voucher Graduate Nurse of the Year Award $2,500 scholarship $2,500 travel voucher Innovation in Nursing Award $10,000 development grant Nominations close 31 March To make a nomination visit The HESTA Australian Nursing Awards will culminate in nursing s night of nights on Friday 18 May at Palladium at Crown Casino in Melbourne with Melissa Doyle and David Koch from Channel 7 s Sunrise program hosting the evening. 4 MemberMagazine March 2007 MemberMagazine March

4 Are you covered? Your new insurance benefits at a glance Death Cover An extra unit of cover automatically for members who have one unit of cover at 31 October 2006 More cover per unit (after age 35) You can still apply for extra cover - up to $2 million Income Protection (IP) Cover More cover per unit - now $400 per month (was $365) Even more cover available - up to $20,000 per month to a maximum 84% of your salary (was 75%) Insurance Examples These examples are designed to demonstrate how insurance may suit individual circumstances and are illustrations only. JENNY JOHN A lot of people don t realise that they may have access to death and disability insurance cover through their super fund. Eligible HESTA members are automatically provided with insurance unless they specifically decline it. Often having insurance through a super fund is cheaper than buying it directly from an insurer, and having the payments made directly from a superannuation account is a lot easier than having to find the money from your take-home salary. According to Rainmaker Information data, HESTA s insurance can provide up to twice the cover of other super funds for the same price. This is because HESTA purchases the insurance cover from the provider in bulk and passes the savings onto members. HESTA CEO Anne-Marie Corboy encourages people to have a look at their personal circumstances and consider whether they have the appropriate level of cover. Insuring against death and disability means thinking about negative things that most people would prefer not to think about, but the problem is that after something happens it s too late. More choices Income Protection (IP) Cover or Lump-Sum Total and Permanent Disablement (TPD) Cover options to fit your needs Option of fixed Death Cover or TPD Cover (high benefits for longer with increasing premiums) Access to advance payment of Death or TPD Cover benefit for terminal illness We wanted our new insurance to better reflect our members requirements and changing personal circumstances, whether it be taking on a mortgage or improving levels of income. Jenny, 45, has had insurance through HESTA for the past 15 years. A food services worker, Jenny plans to keep working for as long as possible and enjoys the peace of mind her insurance cover brings. John, 32, works as an orderly at a regional aged care facility. He lives with his wife, Wendy, and two children, Ben and Kate. John and Wendy have a mortgage of $70,000. John has insurance through HESTA. He took it out after thinking about what would happen to his wife and children, if something happened to him. He wanted his wife to be able to pay the mortgage and his children to be able to attend their current school. John wanted to make sure his family would be able to continue the life they were accustomed to, even if he died. HESTA has introduced insurance upgrades for members which improve the default cover and help keep pace with the changing needs and profiles of our members. The group policies available through industry super funds tend to have lower premiums than those of retail super funds. It s best to think about it now and make sure you re prepared, just in case. Anne-Marie points out that the new insurance available through HESTA offers even better value than before. For further information call or visit for a copy of our insurance kit. The new death and disability insurance is provided by ING Life Limited (ABN AFSL ). CINDY MELISSA Snapshot: new Automatic Cover for eligible members from 1 November 2006 (total cost per week = $3.00) Type Units Cover Weekly cost Maximum Benefit How this benefits you available NEW Death Cover (pays your estate or dependants a lump sum if you die before age 70) 2 $160,000* $1.20 $2 million (higher benefits ($0.60 per unit) than previously offered are available after age 35 ) An extra unit of cover If you were a member of HESTA at 31/10/06 and had one unit of Death Cover you automatically received an extra unit of Death Cover. (This cover is subject to the At Work requirement) OLD Death Cover to age 70 NEW Income Protection (IP) Cover to age 60 OLD Income Protection (IP) Cover to age 60 1 $80,000 * $0.56 $2 million ($0.56 per unit) 2 Up to $800 $1.80 $20,000 / per month ($0.90 per unit) Maximum 84% of salary 2 Up to $730 $1.94 $20,000 / per month ($0.97 per unit) Maximum 75% of salary More cover per unit Your benefit per unit of IP cover has increased to $400 per month, so HESTA s basic two units can pay you up to $800 per month. You can also apply for even more cover (up to $20,000 per month). All benefits are limited to 84% of predisability salary. Cindy is 32 and works as a nurse in a small, private hospital on the outskirts of a capital city. She has a daughter, Molly, 4. Cindy rents her house, but one day hopes to buy a place of her own. Cindy recently joined HESTA and when choosing her level of insurance considered not only protecting her income but also looking after Molly financially, should Cindy die. Melissa is 23, has just finished her university degree and is working as a lab technician at a busy metropolitan hospital. She still lives at home with her parents but is considering moving out soon. Melissa chose HESTA as her super fund and took up insurance straight away. Even though she has no liabilities, she knew it could be easier to get insurance while she is young. Melissa also decided it could help to have income protection so she would be covered if she was injured and couldn't work. * Before age 36; benefits decrease with age from 36 to zero at age 70 See your HESTA Insurance kit at for more information 6 MemberMagazine March 2007 MemberMagazine March

5 A friendly reminder - Don t leave your super behind Almost one in four people will change jobs at least five times over the period of their working life, according to the Australian Bureau of Statistics. Sadly, many people forget to tell their new employer which super fund they belong to and this can lead to the employer setting up another account with a different super fund. As your national industry super fund for health and community services, HESTA allows its super to move with its members. HESTA has more than 50,000 employers across Australia, so a member s new employer may already be contributing to HESTA. Staying with HESTA even when you retire Recent changes to legislation mean that HESTA members are able to leave their super in HESTA even after they retire. HESTA CEO Anne-Marie Corboy says many people don t know what to do with their super balance on retirement. They now have the option to leave it in HESTA until they want it. Rather than being forced to withdraw their super when they reach age 65 and stop working, our members can now leave it with HESTA and draw it out when they need it (conditions apply). So rather than putting their super into a low cash-rate bank account or locking it away in a term deposit or pension, members can simply leave it in HESTA to continue taking advantage of HESTA s investment options and returns. HESTA CEO Anne-Marie Corboy says HESTA has made the joining process simple for employers. When one of our members starts a new job there is a high possibility their employer will be able to pay their super contributions to HESTA straight away. If a member s new employer is already with HESTA there are no additional application forms to complete. To retain HESTA, members need to provide their member number to their employer. HESTA members have been issued with a member card for easy access to this number. Or members can phone HESTA on to get their member number. The advantages now available: You can stay with HESTA, the fund you know and trust when you retire The option to stay gives you greater flexibility with what you do with your money You can get your money when you want (conditions apply eg; government requirements) You can keep receiving your HESTA investment returns and have access to member investment choice You can get advice about your super from HESTA HESTA intends to introduce products and services to make it easy for members to stay in HESTA and get access to their money. HESTA is also looking at introducing products and services to assist members to maximise their super in their transition from work to retirement this also includes while continuing to work part-time in retirement. There are advantages to remaining with HESTA including: member s retain their insurance cover, don t have to fill out extra forms, keep their investment options, know how to access the extra services offered by their fund and come statement time, will still only have to read one superannuation statement. Anne-Marie encourages people changing jobs to consider retaining HESTA to avoid excess paperwork and multiple accounts. HESTA members are generally able to take their super with them when they change jobs even if they leave the health and community services industry. Life s too busy to be filling out more forms than you need to, said Anne-Marie. Are you leaking thousands of dollars? You could be losing money right now and not even know it. If you have more than one super account, you may be paying unnecessary fees that you re not aware of. Those fees could be draining away your hard earned savings. Say you have money in another super fund and are charged $200 in fees each year. In only five years you ll pay out $1,000 and in 30 years you ll have paid a whopping $6,000. According to the Australian Consumers Association, in 2006 Australians were paying at least $525 million in unnecessary fees each year by having more than one super account. If you have multiple superannuation accounts and you want to stop paying unnecessary fees by moving the money from your other accounts into HESTA, fill out the easy, 3-step transfer form enclosed with your statement. Before you transfer your super: 1. Check the exit fees charged by your other fund. Some funds charge an exit fee which means you may not benefit from the transfer. 2. Review your death and disability insurance. Generally when you leave a fund the insurance cover is cancelled. Also review any other member advantages offered through your old fund. 3. Remember it s important to consider your own circumstances when consolidating your super funds because it may not be for you. You may wish to consider seeking financial advice. Don t wait for your statement HESTA members don t have to wait for their paper statements to arrive in the post anymore because there s a much quicker way to check your super account balance. On any one day, on average, over 1,000 HESTA members check their superannuation account details online. Members can access their details through Member Online on HESTA's website. HESTA, here for everyone With over $11 billion in assets, 580,000 members and 50,000 employers, HESTA is the largest health and community services industry-specific super fund in Australia. What you may not know is that HESTA is also a public offer fund. This means that people who work outside the health and community services industry are able to join and enjoy the benefits of having their super with HESTA. HESTA CEO Anne-Marie Corboy says HESTA members know their super is being looked after by specialists. HESTA offers low fees, with no entry or exit fees or commissions paid to With Member Online you can access your super account to: Change your personal details Change your investment options Make an extra contribution Advise HESTA of your tax file number Change your nominated beneficiaries Check your account balance and transactions Check your level of insurance cover To access your super account online you must obtain a Personal Identification Number (PIN). You can obtain a PIN by visiting or calling us on agents and a history of strong long-term returns. Over the years more and more people have joined HESTA from outside the health and community services industries. While HESTA always has and always will exist for the health and community services sector, your friends and family who work outside of the sector are able to take comfort in the fact that their super can be looked after by HESTA, just like yours, Anne-Marie said. Investments can go up and down. Past performance is not necessarily indicative of future performance. HESTA will announce any additional products or services as soon as they re available. 8 MemberMagazine March MemberMagazine March 2007

6 Help is just a click away Give your super a booster shot On HESTA s website you can access interactive Calculators that can help you compare fees, check the benefits of salary sacrifice, analyse your insurance needs and much more! To use the interactive calculators visit and click on the Members button, select Calculators from the menu and then select the calculator you would like to use. Each calculator has a Help function if you get stuck on what information to fill in and where to put it, look for the? in the top right hand corner. There are seven calculators to choose from: Super Calculator you can enter different scenarios to help you estimate what your super balance may be in the future Fee Comparison Calculator use this calculator to assist you in finding out how even a small difference in fees could make a big difference to your super balance Salary Sacrifice/Co-Contributions Calculator find out how salary sacrificing into your super differs from personal investing, and what you may gain through the Government Co-contribution Grow your super faster! Did you know that if you earn less than $58,000 a year and you top up your super account with aftertax money, the Government will also top up your super. The amount the Government will contribute depends on the amount you put in and how much you earn. For contributions made in the 2004/05 year, the Government paid a contribution to over 1 million super accounts and in total paid $934,127,510. If you weren t one of those people receiving some of that money, you may want to get in on the action. For the 85% of HESTA s members who are women the scheme is particularly worth looking into because women often have lower account balances than men due to lower wages and time spent out of the workforce. To give your super a healthy boost, why not consider making extra contributions to take advantage of the Government Co-contribution scheme? Here s a summary of how the Government Co-contribution works: The Federal Government contributes up to $1.50 for each $1.00 of after-tax super contributions. The maximum annual Cocontribution of $1,500 applies to incomes of $28,000 or less a year. It is reduced by 5 cents for each dollar of income over $28,000, stopping at $58,000. Income is assessable income and reportable fringe benefits. Disability & Death Cover Calculator Check what your Death Cover, Income Protection (IP) Cover and Lump-Sum Total and Permanent Disablement (TPD) Cover options, benefits and costs are Risk Profiler fill in this questionnaire to help determine how comfortable you are with investment risk Investment Comparator the comparator has a description of each HESTA investment option and provides information on investment performance, date of inception and asset allocation. It has been developed as a guide to help you understand the different investment choice options available to you as a HESTA member Budget Tool use this tool to find out where your money is going so you can start saving more for the things you really want For example, if you are eligible, earn $27,000 a year and contribute an extra $300 to your super from your aftertax income, then the Government will contribute a further $450 to your super. If you make a $1,000 contribution, then the Government will contribute $1,500. Salary sacrifice contributions do not attract a Cocontribution. For more information about eligibility and the Government Co-contribution visit From 1 July 2007 the lower income threshold of $28,000 will be indexed on an annual basis. The higher income threshold will be the lower income threshold plus $30,000. The self employed may also be eligible for the Government Co-contribution if they make extra after-tax contributions. CASE STUDY Susan is 40 and has 20 years left until retirement. Susan works as a nurse at a large hospital and earns $50,000 a year. Susan s HESTA account balance is $50,000. Susan has decided that she will need more money in retirement. So she has decided to contribute an extra $10 a week. That amount over 20 years, coupled with compound interest (6.25%) means that Susan could retire with an account balance of $430,607. If Susan doesn t add $10 a week, her account balance on retirement could be $397,622. By adding just $10 a week and qualifying for the Government Co-contribution (see page 10) Susan has boosted her account by $32,985. Assumptions Calculations start from today and calculate yearly from this date to the year of retirement It is assumed that there is a continuous working life with no breaks Includes Government Co-contribution The additional $10 a week has come from Susan s after tax salary Calculations include deduction of HESTA s weekly administration fee ($1.25 a week) and $3.00 a week for insurance premiums There is no allowance for salary or contribution increases This is merely an illustration and not a guarantee of Susan s account on retirement. Could you live on $13,300 a year? That s what you might receive if you retired today on the single age pension.* With 9% Superannuation Guarantee (what your employer must generally contribute) on average earnings, in 30 years (if you anticipate working full-time on average wages in total for 30 years) you can expect to use your lump sum of approximately $167,000 to obtain around $19,800, in today s dollars, per year in retirement income (which includes a part pension).** It s generally accepted that retired singles need around $36,000 a year to live comfortably, and couples need around $48,000**. That s assuming you own your home. About 85% of HESTA members are women and many may need to increase their retirement income because their current savings are low due to part-time work or having spent time out of the workforce raising children. If your super balance is looking a little unhealthy, you can give it a boost by making your own extra contributions. How do I make after-tax extra contributions? After-tax extra contributions can be made in three ways: Through your employer as an after-tax deduction from your pay As a direct debit from your bank account or As an ad hoc payment made by you directly to HESTA You can stop or start payments at any time. These contributions may even entitle you to a Government Co-contribution (see page 4). Pending regulations mean that from 1 July 2007 funds will only be able to accept your extra contributions if you have provided your Tax File Number (TFN). Before-tax extra contributions (salary sacrifice). Salary sacrifice is an arrangement between you and your employer where you consent to reduce your salary by a nominated amount, and your employer uses this amount to increase their super contributions to your account, before income tax is paid.*** In effect, you would be putting some of your gross salary into your HESTA account, which: Reduces your taxable income, and Adds to your super savings Pending regulations will modify the limits on total contributions that can be made, and from 1 July 2007 will also require funds to deduct tax at the top marginal rate (on taxable contributions) if you have not provided your Tax File Number (TFN). For more information about making extra contributions to your super visit For further information about the proposed budget changes visit * This refers to the approximate maximum single age pension as at September The payment may be less after income and asset testing. ** Source: Westpac-Association of Super Funds of Australia Retirement Living Standard calculated as at September 2006, based on retirement in Sydney. *** There are legal requirements to make a salary sacrifice arrangement effective and you may also be affected by award or industrial agreements. 10 MemberMagazine March 2007 MemberMagazine March

7 Out & about HESTA believes those at the frontline of health and community services do a remarkable job. That s why we support your industry, attending conferences, running educational seminars, supporting awards that recognise dedication and professionalism and providing encouragement for further training. Mother s Day Classic Last Mothers Day, over 30,000 people braved the elements across five capital cities to participate in the Mothers Day Classic fun run/walk to raise $712,000 for breast cancer research marks the 10th year of this event and hopes to attract record crowds. The event is being held on Mothers Day in Melbourne, Sydney, Brisbane, Perth Adelaide, Hobart, and regional areas. HESTA s involvement in the Mothers Day Classic helps to support our members who are involved in cancer care and research and those who have been affected by breast cancer. The majority of our members are women and HESTA is pleased to be involved in an event that works to raise awareness of the impact of breast cancer on the lives of those affected and contribute to finding ways to treat and, hopefully, cure this disease. For more information on the Mothers Day Classic visit Awarding excellence The annual Aged and Community Services Australia Awards were held in September. HESTA was proud to support the 2006 Employee Award, won by Sue Sammartino, Lutheran Aged Care, NSW. The awards celebrate best practice and the outstanding achievements and continuous improvement in the care and support of older people, people with disabilities and their carers. Don't forget to nominate a remarkable nurse for the HESTA Australian Nursing Awards at: Nominations close 31 March 2007 Promoting learning HESTA representative Helena Higginbottom with Aged Care Provider MECWA CEO Judith Congalton. The 7th annual Community Services and Health Industry Training Board Awards were held on 20 July. Almost 500 people attended the awards at the Plaza Ballroom in Melbourne. HESTA was proud to support the award for Employer Achievement in Creating a Learning Culture Open Category. Aged Care Provider MECWA was the recipient of the award. Helena Higginbottom, Client Relationship Manager (Victoria) presented the award to Aged Care Provider MECWA CEO Judith Congalton and Training Manager Trish Gerritsen. HESTA voted best on customer service HESTA Super Fund has been named Best Super Fund for its outstanding customer service as determined by the 2006 SMILES poll. The poll was run by Australian Financial Review s Smart Investor magazine and asked over 3,500 Australians to rate customer service attributes by Australian Companies and nominate their favourite institution in a web survey. The survey is conducted to provide a unique insight into which institutions don t just talk the service talk but also walk the service walk. According to Chris Morris from AFR s Smart Investor magazine the survey aims to discover which companies are providing customers with the best experiences. Unlike other awards which are based on technical data, the SMILES research is concerned with customer satisfaction, Chris said. HESTA CEO Anne-Marie Corboy says HESTA is thrilled with the win. Because HESTA s fees are low, the average person might naturally think our service standards are low too. But HESTA has the scale to deliver great service despite having such low fees. We put a lot of effort into helping members and we are thrilled that people see HESTA as the leader in customer service. What really makes this significant is that it s the only award judged by real super fund members, rather than by ratings agencies. Anne-Marie says part of HESTA s appeal is not only its low fees but also the Fund s history of strong returns, good service and support for the health and community services industry. We hope our members have enjoyed our service and know that we won t rest on our laurels. We will continue to provide the best customer service possible. We are committed to supporting the industry that has supported us so well. We have only one goal - to increase the retirement incomes of our members.