HESTA Vs Aware Super – Which Fund to Choose?

When it comes to choosing a superannuation fund in Australia, two popular options are HESTA and Aware Super. Both funds offer a range of benefits and investment options, but there are also key differences between them that can make one more suitable than the other depending on your individual circumstances. In this blog, we’ll take a closer look at HESTA Vs Aware Super, comparing their features and benefits, as well as exploring user reviews to help you make an informed decision about which fund might be the right choice for you.

HESTA Vs Aware Super
HESTA Vs Aware Super

About HESTA

HESTA is a superannuation fund designed specifically for workers in the health and community services sector. It was established in 1987 and currently has over 870,000 members and manages over $65 billion in assets.

One of the key features of HESTA is its focus on ethical and sustainable investing. The fund has a strong commitment to investing in companies that have a positive impact on society and the environment, and it actively engages with companies to encourage them to improve their sustainability practices.

About Aware Super

Aware Super is one of the largest industry super funds in Australia, with over $135 billion in funds under management and over 1.2 million members. It was established in 2019 through the merger of First State Super and VicSuper, and it offers a range of investment options across different asset classes.

Aware Super has a strong focus on responsible investing and has been recognized for its commitment to sustainability and ethical practices.

Similarities and Differences

While HESTA and Aware Super are both superannuation funds, there are some key differences between them. Here are some of the main similarities and differences:

Similarities

  • Both funds offer a range of investment options across different asset classes, including shares, property, and fixed interest.
  • Both funds offer insurance options to protect members in the event of death or disability.
  • Both have online portals that allow members to manage their accounts and track their investments.

Differences

  • HESTA is focused on the health and community services sector, while Aware Super is open to all Australians.
  • HESTA has a stronger focus on ethical and sustainable investing than Aware Super, although Aware Super also has a strong commitment to responsible investing.
  • Aware Super offers a wider range of investment options than HESTA, including options for self-managed super funds (SMSFs).
  • HESTA generally charges lower fees than Aware Super, although the exact fees will depend on the investment options chosen.

Recommended Read: GESB Vs Australian Super

✅ Also Read: CBUS Vs AustralianSuper

Table of Comparison: HESTA Vs Aware Super

To help you compare HESTA and Aware Super more easily, here is a table summarising some of the key features of each fund:

FeatureHESTAAware Super
MembershipOpen to workers in the health and community services sectorOpen to all Australians
Investment optionsRange of options across different asset classesWide range of options, including SMSF options
Ethical and sustainable investingStrong focus on ethical and sustainable investingStrong commitment to responsible investing
FeesGenerally lower fees than Aware SuperFees vary depending on investment options chosen
InsuranceOffers a range of insurance optionsOffers a range of insurance options
Customer serviceGenerally high levels of customer serviceGenerally high levels of customer service
PerformanceGenerally strong performance, although this can vary depending on investment options chosenGenerally strong performance, with a strong track record of delivering solid returns to members

User Reviews

To get a sense of how members feel about HESTA and Aware Super, we looked at user reviews on a range of platforms and portals. Here’s a summary of what we found:

HESTA
1. Positive reviews praised the fund’s strong ethical and sustainable investing focus, low fees, and high levels of customer service.
2. Negative reviews tended to focus on difficulties with the online portal and issues with processing withdrawals.

Aware Super
1. Positive reviews praised the fund’s wide range of investment options, strong customer service, and solid returns.
2. Negative reviews tended to focus on high fees and difficulties with the online portal.

Overall, both received largely positive reviews from their members, with most users expressing satisfaction with the fund’s performance and customer service. However, there were some complaints about fees and difficulties with the online portal, which is worth taking into account when making a decision.

Conclusion

Choosing a superannuation fund is an important decision, as it will have a significant impact on your financial future. While HESTA and Aware Super are both popular options, they have different features and benefits that may make one more suitable than the other depending on your individual circumstances.

If you work in the health and community services sector and are looking for a fund with a strong focus on ethical and sustainable investing, HESTA may be the right choice for you. On the other hand, if you’re looking for a wider range of investment options and the flexibility to manage your own super through an SMSF, Aware Super may be a better fit.

Ultimately, the best way to choose between HESTA Vs Aware Super is to do your own research and consider your own needs and preferences. Visit ThinkMoneyTrader for more financial bytes like this.

5/5 - (1 vote)

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *