Rest, one of Australia’s largest profit-to-member superannuation funds, is streamlining its investment menu in line with its mission to make the super experience simpler for its 2 million members.
Rest is making 3 key changes from 30 September:
- streamlining its menu from 15 to 9 investment options to make the selection process simpler
- updating some of its investment option objectives to make them easier to understand and compare
- renaming ‘Core Strategy’ – Rest’s MySuper default option – to ‘Growth’ to better reflect its growth investment focus.
Deborah Potts, Rest’s Chief Member Officer, says these updates have been designed with Rest members in mind.
"Around half of Rest’s 2 million members are under the age of 30 and many have told us making an investment choice can be an overwhelming and confusing process. Rest has made these changes because we want all our members to feel confident about making investment choices that truly align with their retirement goals and what’s important to them."
Rest’s selection of investment options will be refined to 9 options. The streamlined menu will include the following options: Cash, Capital Stable, Balanced, Growth (formerly ‘Core Strategy’), Balanced Indexed, Sustainable Growth, High Growth, Overseas Shares - Indexed and Australian Shares - Indexed. The 6 investment options to be closed are: Bonds, Property, Diversified, Shares, Australian Shares and Overseas Shares.
The changes to the investment option objectives will include updating the objective descriptions for the Capital Stable, Balanced, Growth, High Growth and Sustainable Growth options as well as extending the objective timeframes for the Capital Stable and Balanced options.
Rest’s ‘Core Strategy’ option will be renamed to ‘Growth’ alongside these updates.
The name change and the objective updates won’t impact how the options are invested or their expected potential level of risk or return.
Potts said: "It's crucial Rest offers the right mix of investment options to our members while also making the selection experience easy.
“By making the process simpler, and the options easier to understand, we can help break down the barriers that often stop Rest members from taking an active role in their super journey. By doing this we can ultimately help them to achieve better retirement outcomes.”
"With these changes, we're not only simplifying our investment menu– we're creating a straightforward path for Rest members to feel empowered about their future," said Potts.
"Rest’s goal is to provide transparency and confidence while supporting our members to make the right personal choice about their super."
More information is available here.
About Rest
Established in 1988, Rest is one of Australia’s largest profit-to-member superannuation funds, with around two million members and around $85 billion in funds under management as at 31 March 2024.
For further information please visit out media centre or contact:
Emma Kerswell
Senior Manager, Communications – Consumer and Content
emma.kerswell@rest.com.au
m: 0411 794 206
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
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