The new choice of superannuation fund regime is having a positive outcome for at least some industry funds, with the big health and community services sector fund, HESTA reporting that it signed on nearly double the normal number of employers during July.
HESTA chief executive, Anne-Marie Corboy said HESTA signed on 1,200 new employer members in July when it normally averages around 500.
“This means more employees are choosing HESTA and more employers are offering HESTA to meet this demand,” she said.
“We have always been confident about maintaining members through the introduction of superannuation choice but its very satisfying to see so many employers signing up,” Corboy said.
