HESTA definition
Examples of HESTA in a sentence
If the Employee does not have a ‘stapled fund’ and does not choose a complying super fund within 28 days of commencing employment, the Employer will create an account for the Employee using the Employer’s default fund, HESTA (“Default Fund”).
Where no election is made by the Employee for the payment of superannuation into a particular fund, Superannuation contributions will be paid into HESTA which complies with the Australian Governments Operational Standards for Occupational Superannuation Funds.
In the event that the Employee has not completed an application form within 28 days, the Employer shall forward contributions and Employee details to HESTA.
The employer’s default fund is the HESTA Super Fund, which is a my Mysuper product.
The Senior Notes will be issued, either alone or as part of a Unit, pursuant to the provisions of an amended and restated senior indenture dated November 1, 2004 (as may be supplemented or amended from time to time, the "Senior Debt Indenture"), between the Company and JPMorgan Chase Bank, N.A. (formerly known as JPMorgan Chase Bank), as trustee (the "Senior Debt Trustee").
The default fund for the purposes of this Agreement is HESTA or such other fund as determined by the employer at the time of registration of this agreement.
Employees will be a member of either HESTA or Health Super (or its/their successor).
In the absence of a complying nomination, Estia Health will direct superannuation payments to its default fund, being HESTA (ABN: 64 971 749 321), which contains a MySuper product, or such other fund as required by superannuation laws (for example, in relation to stapled funds).
In the event that the employee has not completed an application form within 28 days, the Employer shall forward contributions and employee details to HESTA.
Where a new employee does not notify the employer of their preferred fund as per their offer of employment, the default fund of Health Employees Superannuation Trust Australia Limited (HESTA) shall be the nominated fund by default.