REST Super is an industry fund with an authorised MySuper product, competitive fees, automatic insurance and multiple investment options.
REST Super from industry fund REST is a MySuper authorised product that is designed to help you save for your retirement. As a member you can choose from 13 different investment options, including a default option which has a history of good performance. The product automatically comes with death, total and permanent disability and income protection insurance. REST Super allows you to keep track of your super and insurance online or via their mobile app.
Read on to learn more about the ways you can invest.
- Low fees
- 13 investment options
- Default insurance cover
- Good investment performance
- Member benefits program
- MySuper authorised
- Education hub
- Online and mobile services
- Access to face-to-face advice
REST Super offers 13 ways to invest your super depending on your risk tolerance and financial objectives. You can choose one or a combination of different options to create your portfolio. These options are detailed below:
Option 1: Core Strategy
Once you apply to become a REST Super member, the fund will automatically place you in the Core Strategy option. This is the default option that is MySuper compliant. This option will give you a balance between risk and return, with a wide asset allocation range. The strategy is actively managed, meaning that REST will review the asset allocation on an ongoing basis and adjust as appropriate to consider current and expected market conditions.
This option is MySuper compliant and aims to achieve a return of CPI +3% p.a. over ten years.
|Product||Risk level||5-year average return*||Asset allocation (by target)|
|Core Strategy||Medium to high||10.68%||Cash securities 8%|
Defensive alternatives 10%
Growth alternatives 19%
Australian shares 17%
Overseas shares 23%
Option 2: Structured options
REST’s structured options offer a predetermined mix of asset classes based on investment objects. Unlike the Core Strategy, this option is not actively managed and reviewed annually.
|Product||Risk level||5-year average return*||Asset allocation|
|Cash Plus||Very low||2.67%||Cash securities 90%|
Defensive alternatives 10%
|Capital Stable||Low to medium||6.76%||Cash securities 32%|
Defensive alternatives 14%
Growth alternatives 10%
Australian shares 8%
Overseas shares 11%
|Balanced||Medium||8.77%||Cash securities 20%|
Defensive alternatives 13%
Growth alternatives 14%
Australian shares 13%
Overseas shares 18%
|Diversified||Medium to high||11.25%||Cash securities 7%|
Defensive alternatives 9%
Growth alternatives 17%
Australian shares 19%
Overseas shares 25%
|High Growth||High||12.84%||Defensive alternatives 7%|
Growth alternatives 20%
Australian shares 24%
Overseas shares 32%
Option 3: Member-tailored options
If you’re feeling more confident, you can take a hands-on approach with your investments via the member-tailored product. This option allows you to create your own portfolio by choosing the percentages you want in one or more investment options. Your money will stay in your chosen investment option(s) until you switch it to another option.
|Product||5-year average return*||Asset allocation (by target)|
|Basic Cash||2.05%||Cash securities 100%|
|Cash||2.42%||Cash securities 100%|
|Shares||15.6%||Australian shares 40%|
|Australian Shares||12.97%||Australian shares 100%|
|Overseas Shares||16.19%||Overseas shares 100%|
*The investment performance and asset allocation was correct as at June 2017. Past performance is not an indicator of future performance.
REST Super charges a number of fees and other costs which will be deducted from your account.
Fees relate to the administration of your account and the management of your investments. Other costs may be charged for additional services including personal financial advice and insurance.
The following is a breakdown of the fees charged for the Core Strategy option.
|Type of fee||Amount|
|Investment fee||Estimated to be 0.69% p.a.|
|Administration fee||$1.30 per week plus 0.1% p.a. of your account balance at the end of the month|
|Buy-sell spread||Buy spread: 0.8%|
Sell spread: 0%
|Exit fee||Nil for the first withdrawal then $25 per withdrawal after|
|Other fees and costs||Personal advice fees if you agree to a fee with your adviserInsurance fees if you have insurance cover in REST Super|
|Indirect cost ratio||Estimated to be 0.07% p.a.|
Example of annual fees and other costs for REST Super (based on a balance of $50,000)*
|Type of fees/ costs||Amount|
|Investment fees||$345 (0.69%)|
|Administration fee||$57.20 plus $50|
|Indirect costs||$35 (0.07%)|
|Total cost of product||$487.20|
*Fees are based on REST Super's Core Strategy option. Fees vary between investment options. For a more detailed breakdown of fees and charges, always read the PDS available on the website.
REST Super offers a single insurance option which will be automatically applied to your account.
REST Super’s default insurance cover automatically includes death, total and permanent disability cover, and long-term income protection.
You will automatically receive default insurance cover when your employer makes your first compulsory super contribution.
REST’s default cover is life-stage based, meaning that cover is lowest when you’re young and automatically increases as you get older.
Your default death, TPD and IP insurance cover and costs will automatically adjust each year on your birthday.
|Death Cover||Provides a lump sum for your beneficiaries if you pass away|
|Income Protection Cover||Provides financial protection that replaces your income if you’re unable to work due to illness or injury for more than 60 days|
|TPD Cover||Provides a lump sum benefit of $28,600 (for most age groups)|
The below table is an example of the default cover, costs and benefits received as of December 2017, as stated on REST’s website. These figures may have changed since this time.
|Age||Amount covered Death||Amount covered TPD||Max. amount covered per month IP||Total cost per week|
To be eligible to receive cover you must be:
- An Australian resident; and
- Be over 18 years of age
You can increase, reduce or cancel each component of your insurance online or via REST Customer Service.
If you’d like to apply for additional insurance cover you can without the need to provide any health information up to 120 days after joining.
Insurance offered through REST Super is provided by AUA Australia Limited.
Note: there may be exclusions and/or restrictions that apply to your insurance cover – check the ‘REST Super Insurance Guide’ available via the website.
Pros and cons
- MySuper authorised
- Low fees
- Mobile app
- Good investment returns
- REST will consider environmental, social and governance factors in their investments but the product does not have an ethical investment commitment
How do I apply?
If you’ve decided to select this fund you can apply online by clicking the green "Go to Site" button at the top of this page.
Make sure you have with you:
- Your personal details, including your name, address, date of birth and contact information;
- Your tax file number (you do not have to give your super fund your TFN but if you don’t it won’t be able to accept certain types of contributions from you and your benefit payments may be taxed at a higher rate than would otherwise apply); and
- The details of your employer
Consolidating your super
If you’ve changed jobs or moved industries it’s likely that you’ll have multiple super accounts and be paying fees on all these accounts.
You can find and consolidate all of your super into REST Super via the website.
Managing your account
You can access your super balance, make extra contributions into your super and change your investment options online 27/4.
Nominate your beneficiaries
Once you sign up for an account you’ll be asked to nominate your beneficiaries. This person or people will receive your super and any insured death benefit if something happens to you. You can nominate one or more dependents.DISCLAIMER: This article may contain general advice. You should consider your own personal circumstances before deciding if a superannuation product is right for you. Superannuation is a long term investment and past performance is not indicative of future performance.