Rest Pension Retirement Bonus - Super Tips

What is the Rest Retirement Bonus and how does it work?

When you’re working and accumulating money in a Rest super account or Transitioning to Retirement (TTR) account, Rest sets some of that money aside to pay for future capital gains tax on any investments we sell that make a profit.

When you move your Rest super into a tax-free environment like our Pension Retirement Account, that capital gains tax is no longer payable. So, the money we’ve put aside to pay it can now be passed to you as a Retirement Bonus.

If you’re eligible and the Retirement Bonus is available, we pay your one-off, lump sum bonus at our discretion straight into your Rest Pension Retirement account when you open it. There’s no need to apply.

Horses for courses. Do different investment options mean different Retirement Bonus rates?

Yes. When you choose how and where Rest invests your super, you’ll know that each option is made up of a collection of various investment types, from company shares, bonds, cash and so-on.

The amount we set aside for tax on unrealised capital gains depends on the investment options you are invested in and which investments have been bought and sold. This means your Retirement Bonus will differ between investment options and also over time as investment values change. It’s also important to note that depending on Rest’s tax position at the time you open your Pension account, some of the options you’re invested in may not pay a Retirement Bonus. Switching between investment options will also affect the amount of the bonus you receive.

*Things you should know.

Retirement Bonus is only one factor to consider and it’s important to weigh up all the factors before deciding how to invest your super.

When you switch investment options prior to moving to a Rest Pension Retirement account, your Retirement Bonus amount may be reduced to zero.

We’ll keep offering the Retirement Bonus as long as there is a difference in the tax rates between super/TTR and Rest Pension Retirement accounts and until Rest decides to stop offering it. If the government changes legislation that may affect Rest and our customers, they usually give us notice in advance, so we’ll try to give you prior notice too. But we also maintain the right to stop offering the Rest Retirement Bonus at any time, without notice.

Rest may, at its discretion reduce the Retirement Bonus payable or determine not to pay a Retirement Bonus. We may do so without prior notice, even if you meet eligibility criteria and have received an estimate of the amount payable from us. You can find updated information here.

A Retirement Bonus will not be paid to a reversionary member.