Rest welcomes today’s announcements from Assistant Treasurer and Minister for Financial Services the Hon Dr Daniel Mulino MP, and says progress on financial advice and superannuation consumer protection reforms are important steps towards improving outcomes for super fund members.
Rest’s General Manager of Public Policy & Advocacy, Enrico Burgio, says the fund has long advocated for reforms that make high-quality, affordable financial advice much more accessible to Australians through super, while ensuring strong consumer protections are in place across the system.
“Everyone, regardless of their income, should have easy access to simple financial advice,” says Mr Burgio.
“The Delivering Better Financial Outcomes reforms, if passed, would bring us one step closer to making simple financial advice available to more Australians through their super fund.
“Many of our members might find it hard to be able to get financial advice if it wasn’t provided through super. If these changes become law, we will be able to help more members make informed decisions about their retirement
“Combined with the introduction of the New Class of Adviser regime for super funds, these reforms will allow super funds to substantially expand the financial advice and guidance they can provide to members, including the type of advice offered.
“The ability to more deeply engage our members at key decision points and life stages through personalised ‘nudges’ is also imperative.
“It’s important these advice reforms progress hand in hand alongside targeted reforms to strengthen consumer protections and governance requirements across the superannuation system.
“Recent failures have caused significant financial harm to Australians and highlighted that existing consumer protections have not kept pace with evolving business models and sales practices, including harmful lead-generation models. Today’s announcements provide improvements that contribute to safeguards against similar losses and strengthen the frameworks within which entities can operate.”
Rest is also pleased to see plans to introduce mandatory trustee education for self-managed super funds (SMSFs), as this should see improvements in SMSF trustee ability to assess advice and make decisions about their superannuation savings.
“We welcome today’s announcements from the Government and look forward to engaging with them and the industry to work though the detail of the reform proposals to ensure strong and practical consumer protections are in place for members,” says Mr Burgio.
About Rest
Established in 1988, Rest is one of Australia’s largest profit-to-member superannuation funds, with more than 2 million members and around $113 billion in funds under management as at 30 June 2026.
For more information, please visit our media centre or contact:
Natalie Kitchen
Head of External Communications
natalie.kitchen@rest.com.au | m: 0439 046 442
Michael Mills
Senior Manager, Communications – Media Relations
michael.mills@rest.com.au | m: 0428 499 722
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