Home' Australian Ageing Agenda : AAA Nov-Dec 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 you'd expect.
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 $142,017*
($88,500 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 $179,831* ($112,065 in
today's dollars) by the time she's ready to retire.
By contributing just $20 per week, Julie
could be $37,814 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 Make the most of your super at
hesta.com.au/boostmysuper or free call
1800 813 327 to make an appointment with
a HESTA Superannuation Adviser.
More people in health and community
services choose HESTA for their super.
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. 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.
*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 2013/14
financial year. Figures have been calculated during July
2013 and include the 2013/14 Superannuation Guarantee
(employer contribution) rate of 9.25%. This example is an
illustration only and is not guaranteed. Investments may go
up and down.
leadership and comprehension of
research and evidence.
Alongside this, students
would work in areas that have
nothing to do with healthcare
directly but where they would
experience different cultures,
religions, environments, families
and occupations that gave them
a broad development in life.
Only then would they enter their
professional discipline -- in this
The RN would, in fact, study to be
a nurse practitioner. The numbers
would be relatively fewer, and
thus the entry score could be
equivalent to those of other health
professions; but the education
would be deeper, more demanding
and more rewarding. With fewer
NPs it would be feasible to offer
more attractive work conditions.
NPs could work across boundaries
and provide their advanced
skills and knowledge to acute,
community and aged care. Large
organisations may be able to fully
employ NPs and others may share.
NPs could have private practice to
further enhance their rewards.
NPs should replace RNs
and thus address the current
and future gap where nursing
will be most relevant.
TAFEs would prepare multi-
skilled health workers who could
-- with appropriate liaison and
screening tools -- deliver many of
the services currently provided
by RNs, ENs and allied health
professionals. The educational
preparation would commence at
Cert III but progress through to
Diploma, depending on career
choices and capability. Those who
had the desire and aptitude could
gain credit toward the NP courses.
This approach would freeze
some nurses in their tracks and
I expect the outcry we had when
university education was first
announced. It is time for the next
step which will be taken by those
who can see where nursing may
contribute to healthcare. Those
who are only concerned with
'what this means for me' will
NPs would fill the ever
increasing gap between what
nursing could add and what it
is able to do with the minimalist
approach to education which
relates to the cost of preparing
too many at university level.
Quality IS better than quantity. An
entry requirement and educational
preparation equivalent to the
long-term need for excellence in
nursing will pass the cost-benefit
test, attract and retain nurse
leaders of the future and improve
outcomes for older people.
More nurses, ratios and money
have been 'solutions' for as long
as I can remember. These are
solutions that have not and will
not work in the future.
More nurses, ratios, money
will not fix the problems
Older people need a team of
staff with a range of skills, from
when the support is directed by the
older person through to the highest
level when they cannot verbalise
their wishes, have complex co-
morbidities and need the very
best end of life care. We will not
have residential facilities in 2025 --
no-one actually goes into nursing
homes to reside! Only the people
with high level care needs will be
living and dying in facilities expert
in triage, emergency support,
rehabilitation and palliation with
older people. I congratulate ACH
Group for providing leadership on
this front. n
Rhonda Nay is Emeritus
Professor at the School of
Nursing and Midwifery at La
Trobe University. She is a former
Director of the Australian Centre
for Evidence Based Aged Care.
MHW -- Multi-skilled Health Worker; PCW -- Personal Care Worker;
AIN -- Assistant in Nursing
MHW -- Cert IV/Dip (ENs)
MHW -- Entry level -- Cert III (PCW/AIN)
www.australianageingagenda.com.au | 17
Links Archive AAA Mar-Apl 2014 AAA Spt-Oct 2013 Navigation Previous Page Next Page