Yes. Rest is an APRA-regulated fund, meaning it’s registered and regulated by the Australian Prudential Regulation Authority (APRA).
Most types of superannuation funds, except self-managed superannuation funds and exempt public sector funds, are APRA-regulated funds.
Any entity seeking to operate an APRA-regulated fund must apply for and hold a licence called an RSE licence. The process to apply for the licence is rigorous. Key parts of our business – from management, reporting, governance, to risk management - were assessed and checked by APRA as part of this process. Also, there are ongoing compliance and reporting requirements that must be met by licensees to help ensure we’re meeting the high and legally binding standards APRA demands.
Also, as one of Australia’s leading super funds, it’s important that we follow the highest financial, operational, and governance standards. Our Members expect nothing less. Our commitment to put our Members’ interest first is part of why almost two million Aussies trust us to keep their retirement savings safe.
What is APRA?
APRA, or the Australian Prudential Regulation Authority, was set up in 1998 as an independent statutory authority to supervise banking, insurance, and superannuation companies. It’s accountable to the Australian Parliament, and works together with the Tax office, the Australian National Audit Office, and other government departments to ensure appropriate systems, standards, and practices are upheld.
According to APRA, it regulates about 1,790 financial institutions, including Rest, and is responsible for ensuring that Australia’s financial system is stable, competitive, and efficient and that everybody’s financial interests are protected.
