STEPS Group Australia's default superannuation plans are changing

Hesta logo

We (STEPS) have reviewed our superannuation plan, to assess the services, terms and overall competitiveness of our current arrangements. Our key criteria included fees, investment performance, insurance cover, member and employer services and connection to our sector.

We are pleased to announce that we have appointed HESTA as our new default fund. This will take effect from September 2020.

HESTA members get one-on-one advice — at no-extra cost – to review their investment options, determine the adequacy of income in retirement, determine the most tax-effective way to make additional contributions to super or consider their insurance needs.

As the only industry fund dedicated to people working in health and community services, they work purely for members – not for shareholders.

 

What does the change mean?

Are you a member of MLC? Unless you instruct us otherwise, you will automatically become a HESTA member. All contributions from September 2020 will be paid to your new HESTA account.

-Once your HESTA account is created, you can transfer your existing superannuation account and any other accounts, into your HESTA account at any time if you choose to. Simply combine through your myGov – ATO portal and follow the prompts.

-If you choose to have your contributions paid to our previous default fund, MLC, please complete the Choice of Fund form (link at bottom of this email) and provide to the HR team at STEPS Group (HR-payroll@stepsgroup.com.au) by 7 September 2020.

 

Already made a Choice of Fund nomination?

If you have previously nominated another fund, there will be no change for you. Your contribution will continue to be paid to your nominated fund. You can however join HESTA at any time. Just visit hesta.com.au/join or speak to one of the HESTA staff during the upcoming webinars.

 

Next steps

HESTA will run daily information sessions via webinar for a week commencing 24 August 2020.

The sessions will run at the following times:

Monday 24th – 12pm and 3pm
Tuesday 25th – 10am and 7pm
Wednesday 26th – 12pm and 3pm
Thursday 27th – 10am and 7pm
Friday 28th – 12pm and 3pm

Further details and links are provided in the PDF Invitation below. To register for a webinar, simply click on the Register Here link in the PDF Invitation below.

You can find out more about HESTA at hesta.com.au

 

Choice of Fund

The standard ATO choice of fund form is found at:

https://www.ato.gov.au/Forms/Superannuation-(super)-standard-choice-form/

 

If you have any questions regarding this announcement, please contact our Human Resources team at STEPS Group on 07 5458 3096.

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