Start your Rest Pension with a little extra

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 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 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

Your questions answered

Why do different investment options attract different Retirement Bonus rates?


Each investment option holds different investments that make up that option. The amount set aside for tax on unrealised capital gains depends on the investments held. This means the Retirement Bonus will differ between investment options and also over time as investment values change. Due to their nature, cash investments are highly unlikely to have unrealised gains and therefore the Retirement Bonus is likely to be nil for options that have a high exposure to cash investments, such as the Cash and Basic Cash investment options.

Can I receive more than one Retirement Bonus?


You may receive more than one Retirement Bonus if you meet eligibility for a second and subsequent payment. For example, if you have multiple Rest accounts for the full 12 months prior to the transfer, you may be eligible for the Retirement Bonus depending on the type of investments options you’re in.

Are there any products not eligible for the Retirement Bonus?


Unfortunately the Retirement Bonus will not be available to Acumen members including their accumulation balance transferred to the Rest Pension Retirement account.

Why is Rest only offering the Retirement Bonus now?


Rest is always looking to make fund improvements and the Retirement Bonus is a new feature that was not available previously. The Retirement Bonus is designed to reward existing Rest members who choose to stay with Rest by providing them the unrealised capital gains tax provision when moving to the Rest Pension Retirement account.

How long are you offering Retirement Bonus for?


The Retirement Bonus will apply as long as there is a difference in the tax rates between super/TTR and Rest Pension Retirement accounts. Currently the government taxes realised capital gains in super and TTR accounts. Pension Retirement accounts are not taxed, which means funds set aside to pay a capital gains tax liability are not required in the Pension retirement account.

If the Retirement Bonus is not available in the future how much notice will be provided to members?


Rest maintains the right to stop offering the Rest Retirement Bonus at any time, without notice. If there is a legislative change – if the tax treatment changes and super, TTR and Account Based Pensions are taxed the same way then a bonus payment may no longer apply. In this case we will attempt to give prior notice as the Government would usually notify us in advance.

Is there anything I can do to maximise my Retirement Bonus before I open my Rest Pension Retirement account?


It’s important to weigh up all the factors. When you switch investment options prior to moving to a Rest Pension Retirement account, your Retirement Bonus amount may be reduced to zero.
A Retirement Bonus will be paid at the discretion of the Trustee and the terms and conditions may change without notice. A Retirement Bonus will not be paid to a reversionary member.