Your investment update - May 2024
In our latest Investment Update, we give you a quarterly performance recap, an update on market news and volatility, and showcase one approach we’ve taken towards investing in AI.
At HESTA, we believe the $450 threshold has perpetuated ongoing inequity for casual and part-time workers, usually women, who often have lower pay and are in insecure or precarious work. This threshold has meant these employees, particularly those working a small number of irregular shifts for a range of employers, can miss out on the benefits of super, leaving them more vulnerable to poverty as they age.
Removing the $450 threshold helps make our super system fairer for women and those on lower wages. It’s a great result for HESTA members, and indeed for all Australians who work multiple, part-time or casual roles.
Other changes to super effective 1 July 2022 are:
An earlier Federal Budget
With an election slated for May, this year’s Federal Budget will be handed down on Tuesday 29 March 2022. We’ll be sure to communicate any relevant promises and changes to you soon after that date.
In our latest Investment Update, we give you a quarterly performance recap, an update on market news and volatility, and showcase one approach we’ve taken towards investing in AI.
With inflation and currently high interest rates continuing to hit household budgets, this year’s Federal Budget contained some important changes for super.
Your super is invested in the future of health, aged care and the community.