HESTA vs AustralianSuper – These are two popular super funds in Australia – but do you know how they differ, or which could be the better fit for you? To make it easy, we’ve compared the key features of both funds side by side. 

AustralianSuper is the largest superannuation fund in Australia, and is a not-for-profit fund with an industry membership base. Membership is open to anyone within Australia.

HESTA Super is an Industry super fund and is linked to employees of the health and community service sectors. It is a not-for-profit fund with membership is open to anyone within Australia.

HESTA Super vs AustralianSuper: How do fees compare?

When comparing AustralianSuper and HESTA Super, AustralianSuper has lower annual percentage based fees, with a 0.67% investment based fee, compared to HESTA Super’s percentage based fees of 0.89%. AustralianSuper has a higher flat fee of $137.80, while HESTA Super has a flat fee of $65.00.

HESTA Super vs AustralianSuper: How does performance compare?

AustralianSuper HESTA Super
Type of fund Industry super fund not linked to any specific industry. Industry super fund linked to employees of the health and community service sectors.
Members 2.3 million 880K
Default Fees (Based on 50K) $472.80 $510.00
Asset Allocation (MySuper option) AustralianSuper Balanced:
International Shares - 31%
Australian Shares - 21%
Alternative - 19.5%
HESTA Super Balanced Growth:
International Shares - 30.00%
Australian Shares - 24.00%
Fixed Interest - 19.00%
Performance (MySuper option)* AustralianSuper Balanced:
1 Year: 9.80%
3 Year: 9.08%
5 Year: 9.14%
HESTA Super Balanced Growth:
1 Year: 10.32%
3 Year: 8.15%
5 Year: 8.32%
Product Disclosure Statement AustralianSuper Product Disclosure Statement HESTA Super Product Disclosure Statement

*Performance as at 28 February 2022.

How does AustralianSuper and HESTA Super insurance compare?

Insurance is also an important factor to consider when looking at superannuation options, as some funds may also provide insurance cover – such as life cover and TPD insurance. Insurance fees will affect super balance, so ensuring you’re happy with the deal you have is vital. Based on ratings from Omnilife, AustralianSuper received an insurance rating of 66/100, whilst HESTA Super received a 65/100 for its insurance options. 

Interested in seeing how AustralianSuper and HESTA Super compared to other popular Australian funds? Review My Super provides valuable insights on the best and worst performing super funds, so that you can make informed decisions on where you invest your money.

Review My Super can review every Super Fund in Australia and can help you understand what YOUR money is doing for YOU!

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