What is the Retirement Bonus?
The Retirement Bonus is a tax saving for the fund. We pass this saving on to you when you transfer your super money into the tax-free pension environment and meet the eligibility requirements.
How does it work?
When your money’s in a super or TTR account, Rest sets aside some money to pay for future capital gains tax if we sell investments at a profit.
When you move your investment into a tax-free environment, capital gains tax is no longer payable. So the money that we’ve put aside to pay this tax can now be passed to your retirement savings as a Retirement Bonus.
If you’re eligible and the Retirement Bonus is available, it’s paid straight into your Rest Pension Retirement account when you open it, and at no other time. There’s no need to apply.
Am I eligible?
You’ll be eligible if you held a Rest Super, Rest Corporate or TTR account for the full 12 months prior to opening your Rest Pension Retirement account.
How much Retirement Bonus will I get?
The amount of Retirement Bonus can vary but the amount you may receive is based on:
- Rest’s tax position over time
- How much has been in your Rest super or TTR account for the 12 months prior to opening a Rest Pension Retirement account; and
- Your investment option/s over the previous full 12 months.
