How to switch an investment option

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

• 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 When money is withdrawn from an option it will generally use the sell price (for more information on Rest’s buy-sell spreads go to rest.com.au/buysellspread).

• When you switch out of an investment option, the unit price used is the sell unit price of your existing option and the buy unit price of your new option.

• If your switch request is received before 4pm AEST/AEDT (Sydney time), the unit price that will apply is the unit price declared two business days later.

• If your switch request is received at or after 4pm AEST/AEDT (Sydney time) on a business day, weekend or public holiday, the unit price that will apply is the unit price declared three business days later.

• This means the dollar amount of your switch may differ from the day you submit your request, due to the change in unit price of the investment option between the date of your request and the date your switch takes effect.

• Your current balance also 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.

• Your switch will be confirmed in writing once processed. If you switch online, you will receive a printable confirmation.

We may delay or suspend switches or withdrawals from your account if:

• There are delays by third parties in processing our requests for example, 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 suspensions of payment could be significant. We are not responsible for any losses caused by these delays.

• If you receive any Death, Total and Permanent Disability 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 the option you nominate for future transactions. If a new Rest account has been set up to receive the super component, the investment option will be set to Cash. You can switch to another Rest investment option at any time.

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 Growth option 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 Growth option) and simple features to help keep costs low.
• If you make an investment choice and choose not to invest all your super in the Growth option you will be a Choice member.