Important changes

Rest takes our responsibility to keep our members informed about any important changes or significant events to the Fund seriously.  This page provides further detail on our recent changes, for your information.

Changes in asset allocation for Rest’s Investment options effective 1 October 2015

The benchmark asset allocations for Rest’s investment options are reviewed annually.  This means that we review the mix of asset classes for each investment option with the aim of better achieving the investment return objectives.

New benchmark asset allocations for Capital Stable, Balanced and Core Strategy investment options were effective 1 October 2015 and are shown in the table below. These asset allocation changes included:
  • decreased allocation to Bonds
  • increased allocation to Cash (Capital Stable and Balanced)
  • increased allocation to Defensive Alternatives
  • increased allocation to Growth Alternatives.

There will be no further changes to asset allocations as from 1 October 2016.

Asset classes Capital stable Balanced Core Strategy
Australian shares 8 14 19
Overseas shares 12 21 29
Property 5 7 11
Infrastructure 4 5 11
Growth Alternatives 6 to 9 8 to 10 10 to 13
Total growth assets  35 to 38 55 to 57 75 to 78
Defensive alternatives  11 to 14 11 to 13 9 to 10
Bonds 27 to 16 17 to 10 10 to 6
Cash 27 to 32 17 to 20 6
Total defensive assets 65 to 62 45 to 43 25 to 22

 

Age 25 Insurance Re-instatement Changes

When you join Rest you are automatically provided with Death TPD and IP insurance cover, the cover you are provided with is referred to as “5 units of Basic Cover” (5 Units for Death, 5 units for TPD and 5 Units for IP). Many members choose to retain this insurance cover; however some members opt to reduce the number of units of cover they have from 5 Units down to 4, 3, 2 or 1, whilst others choose to remove this cover completely.

Under our insurance offering we offer our members who are under 25 an “Automatic Reinstatement” of Insurance Cover on their 25th Birthday if they have previously chosen to cancel their cover.

We have under taken a review of this option with our insurer (AIA Australia) to ensure it continues to meet our member’s needs.

From 1 December 2015, Rest will now only automatically reinstate your Insurance Cover (Death TPD and IP) if you have zero units of Death, TPD and IP Cover (i.e. no active Insurance Cover)). If you have opted to alter your insurance by cancelling some of your cover but not all of it, we will no longer reinstate the inactive insurance options, as we have deemed that you have made an active choice in how you want to structure your Insurance Cover.

Examples

Death units TPD units IP units Reinstatement Description
No cover No cover No cover Yes 5 Units of Death, TPD and IP will be reinstated
No cover 5 units 5 units No Death cover will not be reinstated
No cover No cover 5 units No Death and TPD cover will not be reinstated
5 units 5 units No cover No IP cover will not be reinstated.

The policy terms and conditions for our Age 25 Reinstatement offering are now as follows:

For members who turn 25, if you have no insurance cover, irrespective of your employment status, we will automatically reinstate default Basic Cover (5 units of Death, TPD and IP cover) upon receipt of the first mandatory employer contribution received for you that relates to a period of employment beginning on or after the beginning of the month in which you turn 25 and before you turn 26.

You must be in Active Employment on the day your cover starts. If you are not in Active Employment on this date, Limited Cover will apply until you return to being in Active Employment for 2 consecutive months.

If we don’t receive a mandatory employer contribution before you turn 26, then this offer will expire and be unavailable to you in the future.  This means that to obtain insurance cover, you will have to apply and provide the required information to the insurer who will assess the request for cover.

If you have any questions on this option please don’t hesitate to contact us.

See other important change notices.

We’re here to help. If you have any questions contact us on
1300 300 778  (Monday to Friday, 8am – 8pm).

This website is provided by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003, trustee of Retail Employees Superannuation Trust ABN 62 653 671 394, of which Rest Super, Rest Corporate, Rest Select, Rest Pension and Acumen are part. It contains general advice that has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant Product Disclosure Statement (PDS), which is available on this website.

Rest Advice is provided by Rest advisers as authorised representatives of Adviser Network Pty Limited AFS Licence 232729 ABN 25 056 310 699

Awards and ratings are only one factor to consider when deciding how to invest your super. Further information regarding these awards can be found at Rest.com.au/about-Rest/awards. Past performance is not an indicator of future performance. SuperRatings Pty Limited does not issue, sell, guarantee or underwrite this product. Go to www.superratings.com.au for details of its ratings criteria. For further information about the methodology used by Chant West, see www.chantwest.com.au