How can I grow my super?
Whatever your future goals are, your superannuation may be one way to help you live the lifestyle you’re dreaming of down the track.
Rest is a ‘profit-to-member’ super fund. It’s also called an ‘industry’ or ‘not-for-profit’ fund.
Industry funds were originally created by trade unions and industry groups who wanted to be sure Australians had money set aside for retirement. When Rest Super began in 1988, our funds were only available to people who worked in the retail industry. Today, anyone can join Rest and we look after the super of over 1.7 million members (as at December 2020).
A retail fund is for-profit. While these funds deliver returns to members, they also pay out dividends to shareholders. They’re usually run by banks or investment companies.
Now that you know the difference between profit-to-member and retail funds, let’s compare the numbers. The lower fees and better returns of profit-to-member funds can have a big impact on your super balance over time – just look at the graph below.
According to SuperRatings, a respected Australian superannuation research and consulting company, if you’d put $50,000 into a Rest Super account 20 years ago, today you’d have $55,726 more in your account than the average retail fund.* That’s more money in your super where it belongs.