Protecting Your Super

To ensure that low balance and inactive super accounts are not inappropriately eroded by fees and insurance premiums we:

Cap our fees for accounts with a balance below $6,000.
Cancel insurance cover when an account has been inactive for 13 continuous months.
Transfer ‘inactive low balance’ accounts to the Australian Taxation Office (ATO)

We will communicate with you prior to cancelling insurance or transferring money to the ATO.

Your insurance may be cancelled

If your account has been 'inactive' for a period of 13 continuous months, your insurance may be cancelled unless you’ve let us know that you’d like to keep it.

What does inactive mean?

We haven't received any money in your account such as a rollover or a contribution for 13 continuous months.
You haven’t let us know that you’d like to continue to have insurance cover.

We’ll contact you when your account has been inactive for 6, 9 and 12 months, so you have an opportunity to choose to keep your insurance cover if you’d like to.

Keep your insurance active

If you'd like to stay covered:

you or your employer can make a contribution into your Rest account before it becomes inactive; or
you can let us know by selecting the 'Insurance' tab in MemberAccess, and just follow the prompts.

If your insurance cover is cancelled due to being inactive, it can be turned on again if you contribute to your account within 28 days of your cover being cancelled, or by letting us know you want to keep your insurance within 60 days of it being cancelled by completing and returning the Reinstate my insurance cover form to us.

The same type and amount of cover you had will be reinstated. In addition to the above, you’ll need to have enough money in your account, or top up your account to pay for any premiums and fees owed before we turn your cover back on.

Your account may be transferred to the ATO

If your account is considered ‘inactive’, Rest will transfer your account to the ATO. This occurs in April and October and we’ll write to you prior to this occurring so you can take action.

Generally, your account will be considered an inactive low-balance account if all the following criteria are met:

your account balance is below $6,000
your account has no insurance cover
you have not satisfied a prescribed condition of release; and
we have not received a contribution or rollover to your account within the last 16 months

How to keep your account at Rest

Your account will stay at Rest (and will not be transferred to the ATO) if before the transfer date you:

have over $6,000 in your account;
make a contribution into your account or a rollover from another fund;
have insurance cover or make a change to your insurance cover;
make changes to your investment options;
make or amend a binding death benefit nomination; or
let us know you want to keep your super with us by completing and returning the Inactive low balance account authorisation form to us.

If your Rest account balance is transferred, the ATO will try to consolidate it into an ‘active super account’ you might hold. An eligible ‘active super account’ is one where you've made a contribution in the current or previous financial year, and has a balance of $6,000 or more including any ATO-held super accounts.

If you have an account with another super fund, you can transfer any ATO-held super to your other fund. You can do this through your myGov account, or by contacting your other super fund.