Retirement fees and costs
Get to know your fees
For more information, including an explanation of each of the fee types and how they are calculated, please see the Rest Pension PDS.
Rest Pension Retirement account
Rest Pension Transition to Retirement account
Rest Term Allocated Pension
| Type of fee | Amount | How and when paid |
|---|---|---|
| Administration fees and costs | The fee for administering your account: $1.50 per week plus 0.10% per annum of your account balance on the day the fee is charged (generally the last day of the month). 0.10% per annum component is capped at $300 per annum. |
Deducted from your account generally on the last day of each month and when you close your account. If you have more than one Rest Pension, the asset based fee is calculated on the combined balance of your accounts. |
| plus 0.09% per annum | Deducted from the Fund’s reserves throughout the year, and not from your account. Known as Costs met from reserves*. | |
| Investment fees and costs |
Rest Pension Retirement account and Rest Term Allocated Pension Between 0.00% to 0.58% for the 12 months to 30 June 2024, depending on your chosen investment option
Rest Pension Transition to Retirement account Between 0.00% to 0.58% for the 12 months to 30 June 2024, depending on your chosen investment option |
Accrued and reflected in the unit price of each investment option on a daily basis and deducted from the income or assets underlying the investment option. These fees and costs are not deducted directly from your account. |
| Transaction costs | Rest Pension Retirement account and Rest Term Allocated Pension Between 0.00% to 0.11% pa for the 12 months ending 30 June 2024 depending on your chosen investment option. Rest Pension Transition to Retirement account Between 0.00% to 0.11% pa for the 12 months ending 30 June 2024 depending on your chosen investment option. |
Transaction costs are incurred when assets are bought or sold and are deducted from the income or assets underlying the investment option and reflected in the unit price. These costs are not deducted directly from your account. |
| Switching Fee | Nil | Not applicable. However, a buy-sell spread applies when investing or switching into an investment option. |
| Exit Fee | Nil | Not applicable |
| Advice Fee |
Simple advice is available to you at no extra cost. |
No extra cost as it’s included in your administration fee. |
| More complex personal advice may incur an additional fee that you will need to pay for directly. | This is paid for directly, not through your Rest account. | |
| Buy-sell spread |
Rest Pension Retirement account and Rest Term Allocated Pension Sell spread: 0.00% |
Included in the unit price for each option when we issue units to you upon receipt of a contribution or rollover, or redeem units for a withdrawal, or when switching between investment options. Set by the Trustee and may change without prior notice. For more information visit go.rest.com.au/buysellspread |
How your fees might look
The following tables show what your annual fees would look like if you are in the Growth option (known as Core Strategy until 30 September 2024) investment option over a one-year period and have a balance of $50,000.
If your account balance is less than $6,000 at the end of the financial year, or if you leave Rest, certain fees and costs charged to you in relation to administration and investment are capped at 3% of your account balance for the year (or the period until you left).
Rest Pension Retirement account and Rest Term Allocated Pension
| Fee charged | Fee for a $50,000 balance | |
| Administration fees and costs | $1.50 per week, plus 0.10% per annum of your balance on the day the fee is charged (generally the last day of the month). 0.10% per annum component is capped at $300 per annum. | $78 regardless of your balance plus $50 per annum |
| plus 0.09% per annum deducted from the Fund’s reserves and not from your account*. | plus $45 per annum (deducted from the Fund’s reserves and not from your account*) | |
| Plus Investment fees and costs | 0.53% per annum | $265 per annum |
| Plus Transaction costs | 0.10% per annum | $50 per annum |
| Total** | $488 per annum | |
Rest Pension Transition to Retirement account
| Fees charged | Fees for a $50,000 balance | |
| Administration fees and costs | $1.50 per week, plus 0.10% per annum of your balance on the day the fee is charged (generally the last day of the month). 0.10% per annum component is capped at $300 per annum. | $78 regardless of your balance plus $50 per annum |
| plus 0.09% per annum deducted from the Fund’s reserves and not from your account*. | plus $45 per annum (deducted from the Fund’s reserves and not from your account*) | |
| Plus Investment fees and costs | 0.53% per annum | $265 per annum |
| Plus Transaction costs | 0.10% per annum | $50 per annum |
| Total** | $488 per annum | |
*For more information, see ‘Costs met from reserves’ in the Rest Pension PDS.
**Additional fees, such as a buy-sell spread, may apply.