Introducing our new Retirement Bonus
Transfer your existing Rest Super, Rest Corporate or Transition to Retirement (TTR) account to a Rest Pension Retirement account, and you could be eligible for a boost to your account balance.
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 Transition to Retirement 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. There’s no need to apply.
Am I eligible?
You’ll be eligible if:
- You held a Rest Super, Rest Corporate or Transition to Retirement account (TTR) for the full 12 months prior to opening your Rest Pension Retirement account and;
- You move your Rest Super, Rest Corporate or TTR account to a Rest Pension Retirement account from 1 November 2020
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
- Your investment option/s over the previous full 12 months
