Home' Australian Ageing Agenda : AAA Jul-Aug 2013 Contents Adding a little extra into super can make a big difference
Many of us would love to save more for our
future but feel like it's all "too little, too late" to
make a real difference.
While it may be hard to believe, it's
never too late --- or early --- to boost your
super balance. And it might be easier than
Consider Julie, a 50 year old personal care
attendant earning $30,000 per year. Julie has
$20,000 in her HESTA account and plans to
retire at 66. She attends a HESTA education
seminar at her workplace --- available to her at
no extra cost.
Interested in learning more about her
options, Julie checks out the HESTA super
calculator at hesta.com.au/calculate
She discovers that, if she makes no extra
personal contributions to her super (above
the contributions her employer makes on her
behalf), she may have only around $141,758*
($88,339 in today's dollars), including
investment earnings, when she retires.
Reviewing her budget using the HESTA
budget tool, Julie realises she can afford to add
$20 per week after tax to her super account. The
extra $20 per week means Julie's super could
reach around $178,858* ($111,458 in today's
dollars) by the time she's ready to retire.
By contributing just $20 per week, Julie
could be $37,100 better off!
There are many simple ways to contribute
extra to your super. $10-$20 extra per week
can go a long way towards helping ensure your
retirement is as comfortable as possible.
Use the HESTA calculator and budget tools
at hesta.com.au/calculate to work out how
much you might need, see how you're tracking
right now and the difference before and after-
tax contributions could make to your super.
You can also attend the next Topping up
your super presentation at your workplace,
read our Make the most of your super guide at
hesta.com.au/boostmysuper or free call 1800
813 327 to make an appointment with a HESTA
More people in health and community
services choose HESTA than any other fund.
*Assumptions: Investment earnings of 6.25%
net per year, inflation of 3% per year, and
salary increases of 1% above inflation. Figures
include the government co-contribution
based on proposed income thresholds for the
2012/13 financial year. Figures calculated at 2
November 2012. This example is an illustration
only and is not guaranteed. Investments may
go up and down.
Issued by H.E.S.T. Australia Ltd ABN 66 006 818 695 AFSL No. 235249, the Trustee of Health Employees Superannuation Trust Australia (HESTA)
ABN 64 971 749 321. This information is of a general nature. It does not take into account your objectives, financial situation or specific needs so
you should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this.
Investments may go up or down. For more information, free call 1800 813 327 or visit hesta.com.au for a copy of a Product Disclosure Statement
which should be considered when making a decision about HESTA products.
clinical backgrounds or care experience to
Similarly, while the employment
of staff from non-English speaking
backgrounds is usually paramount
in CALD environments, it can create
issues associated with the interpretation
of written policies, procedures and
mandates that are usually written in
English. Survey participants referred to
the costs associated with the explanation
of resident information and the need to
closely monitor care documentation.
Managing staff and resident culture:
Services accommodating residents and
staff with diverse CALD backgrounds
will have to manage the impact of
this diversity on the living and staff
environments. While Australian aged
care services have a sound reputation
for accommodating diversity, there
is often a need for compromise and
conflict resolution. This can require
both additional resources, as well as
heavy dependence on key people - staff,
residents and families - to maintain a
positive culture within the home.
Cultural and religious activities:
Participants in the survey described
a wide variety of religious traditions,
celebrations, spiritual and cultural
activities that are specific to the delivery
of care in CALD services. Furthermore,
care services are often extended to
accommodate the special needs of people
who have been affected by crisis (e.g.
refugee support networks and Holocaust
In addition to the direct costs of
employing staff such as social workers,
ministers, Rabbis, for example, to deliver
these cultural or religious services, such
activities can also impact the efficiency in
which more traditional care, catering and
therapy services are provided.
Also, fundamental to the delivery of
these services is the support of volunteers
from the community. The CALD operational
costs presented above tend to understate
the level of resources provided through
THE COST OF CATERING
The research has also demonstrated that
the traditional preparation and presentation
of meals can be a source of great comfort
for residents with a CALD background.
There may also be limitations on
ingredients and/or preparation methods
(e.g. halal or kosher meals) that will have
an influence not only on the catering
processes, but on the equipment required
in CALD services.
Survey respondents referred to other
influences on meal costs, including:
• Religious celebrations and practices
impacting on seasonal meal preparation
and use of equipment (Passover,
Ramadan, Chinese New Year, kosher
food preparation etc);
• Recruitment of experienced chefs and
catering staff (most notably in Russian,
Danish and Jewish services); and
• Importing ingredients from countries
of origin where foods are not available
Even with the volunteer support provided
in CALD facilities, catering remains one of
the greatest areas of resource consumption.
MORE THAN LIFESTYLE
Both the personal care and catering
services provided in CALD environments
are central to the comfort and stability
of people with diverse backgrounds.
Further, the delivery of culturally --
relevant services directly influences the
physical, mental and spiritual health of
In many CALD communities, the
use of residential aged care services
is comparatively rare. The adjustment
required from family life to a nursing
home is particularly acute for these
people. In the absence of first languages,
appropriate care, and food services, the
transition to such a foreign environment
can be seriously destabilising.
The report explores how we might
tackle these issues for the benefit of the
unprecedented growth in CALD aged care
consumers in the future. The report will
be released in July. n
Cam Ansell is the aged care consultant
for Grant Thornton and principal of Ansell
Strategic. Petra Neeleman is CEO of
DutchCare in Victoria and chair of the
CALD Interest Group.
www.australianageingagenda.com.au | 25
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