Rest, one of the nation’s largest profit-to-member superannuation funds, representing more under-35s than any other fund, has welcomed the announcement of the Housing Accord in tonight’s Federal Budget 2022/23.
“We exist to help our members achieve the best-possible retirement outcome, which means we will always put our members’ needs at the centre of what we do,” said Vicki Doyle, Chief Executive Officer, Rest.
“Rest has been an investor in institutional residential developments overseas since 2014. In our experience, these assets have been valuable in enhancing the financial interests of our members.”
“We are interested in exploring how the development of domestic residential investment opportunities at scale can provide similar value to our 1.9 million members.
“We represent more than one million Australians under the age of 35 who are decades from retirement, and more than one million women. We are always open to opportunities that can provide them with long-term financial benefits.
“Access to affordable housing also makes a significant difference to the financial outcomes of all our members in retirement.
“We support the consultation that has occurred to date and look forward to further opportunities to work with the Government, our industry peers and other stakeholders to address the barriers to investment and explore opportunities in this sector.”
Rest also welcomed the expansion of the Paid Parental Leave Scheme to 26 weeks and called for Superannuation Guarantee payments to be added to the scheme as soon as possible.
“We support improvements that encourage women’s workforce participation, and a more equal division of domestic and caring responsibilities. These can have a positive impact on retirement outcomes,” said Ms Doyle.
“We continue to urge the Government to add Superannuation Guarantee payments to the scheme without delay. This improvement will make retirement outcomes more equitable and address the gender gap that continues to disadvantage women, including many of our members.”
For further information please visit our media centre or contact:
Michael Mills
Senior Manager, Communications – Media Relations
media@rest.com.au
m: 0428 499 722
This information has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant PDS and TMD which is available at rest.com.au/pds. Issued by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003 (Rest), trustee of Retail Employees Superannuation Trust ABN 62 653 671 394