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Rest update on remediation

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Rest will be contacting and remediating current and past members who experienced a delay in the transfer of their superannuation from Rest Super into another superannuation fund between 1 January 2014 and 2 May 2018.

What happened?

Between 1 January 2014 and 2 May 2018, Rest required members to provide an employment termination date or separation certificate before a request to rollover to another superannuation fund was processed. This led to the delay in processing the rollover requests for some members.

What has changed?

From 3 May 2018, Rest no longer requires members to confirm the termination of their employment before processing a rollover request.

What we need from you

Rest will contact all affected members by mail and will inform them of the remediation process, including how to contact Rest if there are any additional questions or concerns.  If we have a mobile number or email address on record, we’ll also use these contact details to let members know a remediation letter has been sent by post.

If you haven't changed your postal address since you left Rest, you don't need to contact us - we'll send the letter to the address we have on our records.

If you have changed address, please contact us by 19 March 2021 to let us know your new address details. Contact us via Live Chat or call us on 1300 300 778 - listen for the remediation option and press 1.  

If you have any concerns or complaints about this matter, we are here to help. Should you have any questions or need any further information, please contact us via LiveChat or call on 1300 300 778.

Your questions answered

Who is being compensated?

Rest is contacting and remediating current and past members who experienced a delay in the transfer of their super from Rest Super into another superannuation fund between 1 January 2014 and 2 May 2018.

Between 1 January 2014 and 2 May 2018, Rest required members to provide an employment termination date or separation certificate before a request to rollover to another superannuation fund was processed. This led to the delay in processing the rollover requests for some members.

This requirement was removed in May 2018.

What do I need to do?

We’re sending a letter to all impacted members with information about the remediation process. We expect to contact all impacted members by the end of March 2021.

To help make sure our letter reaches you please ensure your postal address with Rest is up to date by contacting us on 1300 300 778 or via Live Chat.

When will you pay me?

We’re working to make payments to affected members as soon as possible.

Rest will process compensation payment by mid to late May 2021 provided we have a completed electronic benefit payment form by late April 2021. The letter we send to you will provide more details on how to access and complete this form.

How much will you pay me?

Each member’s circumstance and compensation will vary. The letter we send to you will include information on when and how much you will be compensated.

How is the compensation calculated?

Rest is compensating impacted members according to their individual circumstances. This may include lost investment earnings and other fees and costs.

Who do I call for further information or if I have questions?

You can contact us on 1300 300 778 or via Live Chat if you have any questions or need any further information.