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How to switch an investment option

Rest realises your investment needs may change over time, so you have the option to change your investment choice at any time (switching).

You may invest in a single option, or in a mix of the Core StrategyStructured and Member-tailored options. If you’ve decided to change your investment option, you will also need to decide if you want to switch:

  • your current account balance only
  • the way future transactions are applied, or
  • both.

You can switch your investments:

  1. By using the Rest App - go to My Investments in the Menu and select Manage investments, or
  2. Online by logging into Member Access - go to Investment and select Change investments 

What else do you need to know?

How your switch is processed

There are changes coming to the effective date given for investment switches as follows.

Until 28 October 2021

  • Your switch will become effective two business days after Rest receives your request. (A business day is a work day other than a national public holiday or weekend).
From 29 October 2021

If we receive your switch request:
  • before 4pm AEST/AEDT (Sydney time) on a business day, your switch will take effect two business days later.
  • at or after 4pm AEST/AEDT (Sydney time) on a business day or receive your request on a weekend or public holiday, your switch will take effect three business days later. 
AEST/AEDT (Sydney) time means Australian Eastern Standard Time and Australian Eastern Daylight Time observed in Sydney.

Other information
  • Your switch will be confirmed in writing once processed. If you switch online, you will receive a printable confirmation.
  • There is a separate buy and sell unit price for each option. When money is invested in an option it will generally use the buy price. When money is withdrawn from an option it will generally use the sell price.
  • When you switch out of an investment option, the unit price used is the price at the time your transaction is processed.
Your current balance includes any transfers and contributions received prior to the date the switch becomes effective. Any transfers and contributions received after that date will be considered a future transaction, so you should check your account balance before you switch, as it may change by the time the switch becomes effective.

Switches may be delayed

We may delay or suspend switches from your account if:
  • there are delays by third parties in processing our requests
  • if an underlying fund delays or suspends issuing unit prices
  • a switch or withdrawal would adversely affect the fund
  • we cannot realise sufficient assets to satisfy your payment due to circumstances outside our control for example, markets have been restricted or suspended.
The delays or suspension could be significant. We are not responsible for any losses caused by these delays.

Switching to the Property option
  • If you choose to invest in the Property option, there are certain conditions that you need to know about.  Please refer to the Investment Guide for further information. For Rest Pension members, please refer to the Rest Pension PDS.

Switching and your insurance
  • If you receive any Death, Total and Permanent Disablement or Terminal Illness insurance benefits these will always be invested in the Cash investment option.
  • However the super component of any Income Protection benefit you receive will be invested in option you nominate for future transactions.

MySuper and Choice
If you are a member of Rest Super or Rest Corporate, switching investments will determine whether you are in the MySuper product, or the Choice product.
  • If you choose to invest all your super in the Core Strategy or don’t make an investment choice you will be in the MySuper product.  The MySuper product has a single diversified investment option (Rest’s Core Strategy) and simple features to help keep costs low.
  • If you make an investment choice and choose not to invest all your super in the Core Strategy you will be in the Choice product.