Helping members through severe financial hardship

Rest is pleased to announce that members can now access their super when they are experiencing severe financial hardship. This recognises the needs of our members in times of financial distress and is designed to assist your employees at times when they most need it.
 
What is severe financial hardship?

Sometimes individuals go through a tough time in their lives and may find themselves in a situation of severe financial hardship. Depending on their personal situation, when they can’t meet reasonable and immediate family living expenses, they may be able to access some of their super.
 
Why have we changed our policy?
 
At Rest, we understand that super is for the long term and are aware of the impact that early withdrawals can have on member’s retirement balances. However, after listening to our members, many of which come from less advantaged backgrounds, we know how much of a difference this can make. Our decision to help members access their super under critical circumstances, truly speaks to our desire to support them through every stage of their life, including their retirement.
 
What does this mean for your employees?

Employees who are members of Rest experiencing severe financial hardship and meet the eligibility criteria can now apply to withdraw between $1,000 and $10,000 from their Rest account in any 12-month period. There may be no withdrawal limitations where a member has met certain age and eligibility criteria. In both scenarios, employees can expect to receive the funds in just a few days to help them in their time of need.
 
We’re here to help your employees
 
If your employees need more information about financial hardship, they can contact us on Live Chat or call us on 1300 300 778 from 8:00 am to 10:00 pm AEST/AEDT.




 
As we have not taken into account your circumstances, please consider whether this information meets your needs. Go online for a PDS to consider before deciding.  This information is provided by Retail Employees Superannuation Pty Ltd ABN 39 001 987 739 as trustee of Rest (Retail Employees Superannuation Trust ABN 62 653 671 394).
 
The cost of providing financial services is included in the fees as disclosed in the relevant PDS.  Rest and the Fund do not charge additional fees or obtain commissions for the advice provided.  Rest employees are paid a salary and do not receive commissions.  They may receive a performance related bonus that takes into account the financial services provided.  Super Investment Management Pty Limited, a wholly owned subsidiary of Rest, manages some of the Fund’s investments. Rest has no other relationships or associations with any related body corporate or product issuer that might reasonably be expected to influence Rest in providing financial services.  For more information, contact us at rest.com.au/contact-us