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Rest Superannuation
I have never experienced anything so inhumane.
My experience with rest was nothing short of disgusting & inhumane. Attempted to access the superfund on compassionate & Financial hardship grounds as my partner is stuck in Greece due to COVID-19. has been stuck for over a year now. Greece is currently in month 3 of the lockdown & my partners flight has now been cancelled & Australia denying them entry. with no access to the ATO center link or any means of financial assistance. We attempted to lodge with Rest so my partner has money to live in another country that wont allow them back! ( rest ...Read more
are very aware of this). Rest are the only avenue for my partner to get money to live, and according to rest if my partner needed a tooth pulled it would be a more appropriate excuse. I am truly disgusted, please make sure you are not in dire need of your funds when choosing rest, They would honestly rather watch you commit suicide before releasing your funds. they have a 3 dot point criteria and if one point is not met. you are automatically not eligible. READ THE REVIEWS - This company is full of negative reviews & can Guarantee Im taking this to channel 9 news This super is a fraud - AFC here i come1 comment
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YvonneSydney, NSW
Insurance taken out of superannuation without my direct authorization or being advised I could opt out!!
REST has deducted insurance from my superannuation WITHOUT my direct authorization. They also have not advised me that I could opt out of this insurance, and had not sent me my annual statements for a few years! Their own staff have confirmed that insurance was deducted from my superannuation without my authorization/consent, as it is their practice to just take out insurance as a default (even without their clients direct authorization!). They suggested I email REST to seek a refund as other clients had similar issues!
I called and emailed, a...Read more
7 comments
Ash F.Rest Superannuation
Hi Yvonne,
Thank you for reaching out with your feedback. I'm sorry to hear this has been your experience with us thus far.... Read more
The Government's MySuper legislation requires that default super funds protect members against Death, Total and Permanent Disablement. This was a requirement for us to provide our members with. As such, Rest offers as a basic default cover protection for Death, Total and Permanent Disablement and Income Protection. Please note that upon joining as a new member we advise of your insurance details within your welcome letter, along with your statements each year advising of all your insurance details these are sent out to your most up to date address on file. You can also view your insurance details, via the Rest website once logged in to MemberAccess or via the Rest App. We now have the Putting Members Interest First (PMIF) legislation this is to prevent super balances (and therefore your retirement savings) from eroding because of insurance arrangements which may not be right for you. This took effect 1 April 2020. 1. If on 1 November 2019 your super account balance was less than $6,000 and at any point up to 1 April your balance hadn’t gone over $6,000, all your insurance would automatically be cancelled from 1 April - unless you told us you’d like to keep it. 2. Any new members joining Rest from 1 April under the age of 25, or anyone aged 25 and over with an account balance less than $6,000, will need to opt-in to obtain default insurance cover through their super. 3. When a member is both over 25 and their super balance becomes greater than $6,000, they become eligible for default Death and Total and Permanent Disablement and Income Protection. Cover starts when Rest receive your first employer Super Guarantee contribution after they become eligible (known as the Insurance Start Date). They can opt out of this if they choose. Once again, I am sorry to hear of your experience with us, we are committed to providing the highest standard of client service and maintaining our reputation for honesty and integrity. If our service or product quality fails to meet your expectations, please feel free to PM us so we can best assist. Thanks, RobertHi, Thanks for the reply. However, the issue is that REST claims that they send a Welcome letter to indicate that cover for insurance will commence, however nowhere in this letter do they clearly advi... Read more
se their clients that they had an option to opt out!! This is quite misleading. Also, in between my time with REST there were years where insurance was taken out (my balance had not fallen below threshold) and then resumed again, but REST staff don’t even know why!! So none of the scenarios you mentioned would be valid in my case! REST also changed my setting preferences, so for a number of years I did not get my statements, as it would have prompted questions earlier. I am seeking refund of insurance taken out without my consent or even being advised on the Welcome letter I had an option to opt out (which I believe is not honest business practices).Ash F.Rest Superannuation
Hi Yvonne,
Thank you for your response. I am sorry to hear your experience with us.... Read more
I would like the opportunity to look further into this for you. Unfortunately, due to the public nature of social media, I am unable to provide any account related details. I have sent you a private message to discuss this further. Hope to hear from you soon. Thanks, RobertSimilar opinion? Write a review on ProductReview.com.au!
BonorvaDarling Downs, QLD
Terrible experience
They transferred my money to ATO and closed my account without any notifications! The reason they closed my account was “there no activity for 13 months .” But I have been using it for last one year, my employer did contributed every three months, I can still see in my transaction history. I used online chatting service, they couldn’t even active my existing account but asked me to re-open a new one. It’s terrible service.
Now I have to waste time to get my money back.
1 comment
Makealah C.Rest Superannuation
Hi Bonorva,
Thanks for reaching out to Rest.... Read more
I am very sorry to hear that you have had this experience with our team. We do try our best to provide members with notification of account details however, sometimes it is not possible if details are not correct. Under the legislative act Protecting Your Super, we must close an account after 13 months if there has been no contribution made into it. You can find out more information in the link I have provided below: https://rest.com.au/why-rest/about-rest/news/protecting-your-super Due to security reasons, we are unable to also 're-open' accounts. If an account has been closed, a new one can be created. If funds have also been transferred to another super company or the ATO, these can be rolled back into the new account in some cases. I can see that you have mentioned that your employer was making contributions. I have sent you a private message to discuss this further. Thanks, MakealahSimilar opinion? Write a review on ProductReview.com.au!
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RobertPeel, WA
Rest Super is the "Worst" Superannuation Fund in all Australia - Beware!
I was with Rest Super for 2 years, referred to them by Snap Fitness Clubs. They tried ripping me off, taking Insurance Premiums from my Fund when I "never" gave them "Written" or "Verbal" permission to do so. I was trying to access the $10,000 (Tax Free) Super, but Rest Super kept monies for themselves. I ended up getting only $7,676 (Tax Free) and fought for the further $2,800 (Which was taxed). Disgusting!
Read the fine print with this fraudulent super fund:
"Rest Super" doesn't need permission to take out "Extra Fees" from your hard earning...Read more
1 comment
Alysha B.Rest Superannuation
Hi Robert,
Thanks for reaching out to us and I'm sorry to hear of the issues you have endured with us. ... Read more
Due to the public nature of Product Review, I am unable to view or address account information on this platform so can only give general information based on what you've outlined in your review. There are two different early releases this year for hardship; the first is severe financial hardship and the second was introduced purely as a reaction to COVID-19. The severe financial hardship withdrawals are subject to 22% tax rate, which sounds like the application you went through, while the COVID-19 claim has no tax deducted. I'm sorry to hear if you had not been given all options or the tax implications had not been outlined to you prior to release, Robert. It sounds like this caused you and your family significant stress and this is not our aim. While my reply to your review might not influence your views on Rest, I do hope you can accept our sincerest apologies for the grief you went through. If you need any assistance at all, please send through a private message to us with your member number and contact number and we'll do what we can to help. All the best, Alysha.Similar opinion? Write a review on ProductReview.com.au!
TeensSouth East Queensland, QLD
- 3 reviews
- 2 likes
Worst experience with a super fund.
Since becoming sick from a job environment I had to deal with rest super for the first time and it’s been the worst experience ever. So much so I have had to go to Afca.
Why would a super fund like Rest think having an insurer in this case Aia who no longer have a contract with Rest but are still their insurer for certain claims before a date could possibly benefit rest super fund members is absolutely ridiculous.
Took ages to get my income protection sorted as all you do is get the run around and you feel like your getting absolutely nowher...Read more
2 comments
Robert A.Rest Superannuation
Hi Teens,
I am sorry to hear of your experience and appreciate you reaching out to us. I can assure you that this is not the experience we wish our members to have.... Read more
Rest used to have AIA Australia as our insurer, but have now switched to TAL for our insurance. Any ongoing claims or claims that were made before this change in insurers, may still need to be handled by AIA. I would like the opportunity to look more into this for you and hopefully see if I there is anything I might be able to do to help you. I have sent you a private message to discuss this and hope to hear from you soon. Thanks, RobertThanks for your message Robert.
The issues I’ve had are never ending and absolutely nothing you could help me with.
This matter is ongoing with AfCA now and that’s never ending also. People need to... Read more
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sesw
- 9 reviews
- 9 likes
INEFFICIENT
kept changing assessors, each 4-5 months and had to provide & explain again and again, they might not hand over properly, some of them were incompetent too, it used to be a good one, shocking!!
1 comment
Ash F.Rest Superannuation
Good morning Sesw,
Thank you for providing your feedback, I’m very sorry to hear that your experience with us is not as you had hoped it would be.... Read more
I have sent you a PM to discuss this further with you. I look forward to hearing from you. Thanks, MakealahSimilar opinion? Write a review on ProductReview.com.au!
Dom
- 3 reviews
Excessive fees & abominable returns.
Thankfully, I have finally transferred my Super away from REST
Year on year, the fees they charged, grossly outweighed the return on investment. I genuinely believe a blindfolded monkey could throw a dart at a few investments and get a better return that what REST have delivered.
Fees extortionate.
Returns abysmal.
Investment transparency very very unclear.
They really do deserve 0 stars and I would never ever recommend REST to anyone.
2 comments
Alysha B.Rest Superannuation
Hi Dom,
We appreciate you leaving your feedback for us. ... Read more
I'm sorry we have not met your expectations in regards to investments or fees. Rest is committed to keeping fees as low as possible, and even with the recent change in our fee structure, we will still be among the lowest in the industry. The estimated investment fees for most of our investment options were also reduced on 1 July 2020, including our default Core Strategy option. According to SuperRatings, the median fees charged by the super industry on account balance of $50,000 were $660 (as at 30 June 2020). From 28 November, the combined administration and investments for a Rest member in Core Strategy will be $433 per annum. This is within the top quartile for the industry. We understand that you may have not been satisfied with Rest as a superannuation fund and we respect your change of super provider. We wish you all the best, Dom. Thanks, Alysha.Fees may be in the lower quartile compared to industry peers, however, when REST is unable to deliver any positive return on investment, or even pay dividends to account holders, the fees become total... Read more
ly extortionate. Maybe REST should consider voiding all fees when a negative return is realised in a financial year? But then how would you make money without ripping off users? When average fees outweigh annual average return, something is severely wrong don’t you think? REST Fund Managers get a -100/10 for me.Similar opinion? Write a review on ProductReview.com.au!
CyberJackHobart, TAS
- 6 reviews
- 12 likes
REST - Brought to Account in 2020
When I wrote my original beef about Rest 3 years' ago it was a personal issue. They were exploiting part-time employees (Me) at Coles, where I then had worked for a couple of years. I was forced to join Rest to gain employment. They added what I believe to be 'Junk Insurance'; that meant there would be no Superannuation at all!
Today, the media report that A 25-year-old man from Brisbane has successfully sued REST, one of Australia's biggest super funds, over its handling of climate change, forcing it to commit to net-zero emissions for its in...Read more
vestments by 2050. The old, out-of-touch fogies in the boardroom have been forced to concede they owe a responsibility to the World and their members, not exploit them, as I had been. For the record, REST, after intervention by the Ombudsmen, refunded my exploited dollars. A warning to all - check your super and your super fund!Similar opinion? Write a review on ProductReview.com.au!
Useless Liars
They will put your technical issues (caused on their end, not my end) in the 'to hard basket' then push the blame onto the end user. Poor excuse of a 'technical' team. Wasted 6 months of my time to be told it was my fault.
Not recommended at all.
1 comment
Robert A.Rest Superannuation
Hi Zapphello,
I am sorry to hear about your experience with Rest. I can assure you, this is not the experience we wish our members to have.... Read more
I have sent you a private message to be able to discuss this further. Thanks, RobertSimilar opinion? Write a review on ProductReview.com.au!
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Andy
- 32 reviews
- 46 likes
High vague fees
REST recently emailed members with their annual statements. This must have been very embarrassing for REST who charged thousands of dollars in fees (using very vague descriptions), yet only returned hundreds of dollars in interest, even for their better performing options.
2 comments
Lauren C.Rest Superannuation
Hello Andy,
Thank you for taking the time to leave us a review and to highlight your concerns with the fees reported via your recent annual statement.... Read more
We know that the fees you pay on your super account today can make a big difference to what your tomorrow might look like. That is why we work hard to keep our fees low. The total annual fee and costs cover the different components that keep your super working for you. When looking at an interactive version of your annual statement, you can hover over any transaction and it will provide you with a description of that transaction. Further details about the fees on your Rest account can also be found on the Rest website: https://rest.com.au/member/products/fees-and-charges We have also sent you a direct message with some additional information that may assist further. Thanks, LaurenYour low rating on product review suggests a great deal about REST
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Maxwell F.Central Queensland, QLD
- 2 reviews
- 2 likes
Terrible
I have been a Rest member for 5 years but will be changing due to recent experiences. I have been attempting to claim a compassionate release for medical procedures and Rest have been terrible. I was originally told my super was escalated and paid. A week later no funds were released. Upon calling, I was then told that the claim was not even processed despite having it in writing that it was. I was then denied the ability to speak to a supervisor and told that they would contact me within 48 hours. At the time of writing this review my claim was still not processed. Not good enough Rest!
1 comment
Mikaela L.Rest Superannuation
Hi Maxwell,
Thank you for bringing this to our attention, I am really sorry to hear that you have had this experience. ... Read more
Our social media team is here to assist, I have sent you a private message to discuss this further with you. Thanks, Mikaela.Similar opinion? Write a review on ProductReview.com.au!
Tony
- 23 reviews
- 3 likes
The Best Super Fund I have ever invested in is REST.
I have been with REST Super since 1993 and I'm very pleased with the excellent performance and low fees offered to its members. There's about 14 investment options to choose from or if your not sure how to invest you can opt for the Core Strategy, which is an excellent choice also.
Since I have been with REST, they have really helped me grow my Super and I know I'm in good hands. Thank you REST for really looking after your members.I can highly recommend them as the profits go back to there members and they are an industry Super Fund.
1 comment
Mikaela L.Rest Superannuation
Hi Tony!
Thank you for those kind words! We truly enjoy hearing the positive stories from our members! We are so glad we have been able to assist you with growing your super and you have had such a positive experience over the years.... Read more
Please do reach out to us if there is anything else we are able to assist you with, Tony! Thanks, Mikaela.Similar opinion? Write a review on ProductReview.com.au!
PareeSydney, NSW
- 2 reviews
- 5 likes
Reconsider your super/insurer
Started looking around for a new super company after having to make an insurance claim (in May). I have been off work for 16 months already so didn’t think income protection would take any time at all. Let me tell you it’s been most disappointing and frustrating services I’ve ever dealt with. The process of this claim has actually worsened my injury. It’s causing me more anxiety and undue stress than any other company I’ve ever dealt with. Complaining to Rest are unable to help they just guide you back to AIA. I would seriously consider withdrawing your insurance with them and taking elsewhere. I am changing my whole super company after being with Rest my whole life. Extremely disappointing and upsetting service.
1 comment
Rhiannon S.Rest Superannuation
Hello Paree,
Thank you for providing your feedback to us today, this helps us to improve on our service quality. ... Read more
I am sorry to hear that your insurance claim has been a difficult process, this is not the service level we aim to provide to our members. We regularly review our services we provide to members, and have recently changed our insurer to TAL Life Limited. I have sent you a private message to discuss this in detail, so that we may best assist you. Thanks, Rhiannon.Similar opinion? Write a review on ProductReview.com.au!
Felicity G.Greater Melbourne (Metropolitan), VIC
- 2 reviews
Terrible Customer Service
Trying to change my surname as I have recently been married so that I can roll over my super to another fund. I have emailed them documentation and have had no follow up, it seems to be up to me to call them and ask why it hasn't gone through. Only to find out I need to provide something else. If I hadn't have called it would not have move forward at all...a simple process made painfully long and hard thanks to Rest.
1 comment
Makealah C.Rest Superannuation
Hi Felicity,
I appreciate you reaching out to us today and wish to congratulate you on your recent marriage.... Read more
I am sorry to hear that you have had this experience with us. In the case of a rollover being performed, we do require documentation to be able to process this and when a name change needs to be performed, this documentation may need to be certified. I have sent you a private message to be able to discuss this further. Thanks, MakealahSimilar opinion? Write a review on ProductReview.com.au!
Isabelle T.Greater Melbourne (Outer), VIC
- 2 reviews
- 4 likes
REST is the WORST
REST outsourced one of their key services - income protection insurance - to another company called AIA, and failed to continuously monitor the quality of the services delivered by this company.
It's evident from my own experience and from many of the other reviews on this website that REST's lack of monitoring of AIA caused untold amounts of pain and suffering to one of the most vulnerable groups in our society - individuals with permanent disabilities. This negligence caused an insane amount of stress to my family, and I'll remember it for t...Read more
3 comments
Makealah C.Rest Superannuation
Hi Isabelle,
Thank you for reaching out to us and I am sorry to hear about your experiences with us so far.... Read more
AIA was an insurance company which we had previously used for members Income Protection, Total and Permanent Disability and Death cover. Recently, we have changed to a new insurance company; TAL, however we still liaise with AIA regarding members ongoing claims. Claims are assessed on a case-by-case basis and do require regular check in's with our insurance company handling the claim. Rest reports contributions to the ATO on a regular, ongoing basis, once a contribution is active in a members account the ATO will then be notified of this. The Government Co-Contribution is also paid on a yearly basis, between the months of November and January. Rest believes that environmental, social and governance (ESG) issues are important when investing because they represent risks that could influence the performance of our investments over the long term. We have a dedicated team who looks into what investments we make and continue to assess our investments portfolio. We also have a Collgar Wind Farm in Western Australia which will be one of Australia's Biggest Energy Projects, which we are excited about. To find out more information,I have included a link below: https://rest.com.au/member/investments/approach-to-responsible-investing I would like to look into your contributions with you and confirm what has happened. I have sent you a private message to discuss this further with you. Thanks, MakealahDisregarding REST's responsibility for this situation by implying that it was AIA's fault and you've now switched to TAL is concerning. If you outsource some of your work to someone else, you need to ... Read more
do your research on the company that you're outsourcing this work to, and continuously ensure that the third party delivers service of appropriate quality. REST obviously failed to do this. For all members know, REST could monitor TAL as poorly as they did AIA, resulting in the same issues. I don't trust REST to deliver quality insurance anymore. In regards to the ATO situation - the ATO told me, word for word, that I needed to "contact REST, as [I'm] definitely entitled to Super Co-Contribution, but REST has made an error and not given the ATO the appropriate notification for [me] to receive government co-contribution". I've spent hours calling back and forth between the ATO and REST, but REST don't seem to comprehend what I say. They just repeat the same message that you typed without taking into account the fact that they may have made a mistake, with no effort made to fix it. Their service is almost as bad as Telstra - I'm incredibly frustrated.Rhiannon S.Rest Superannuation
I can certainly understand your frustration in this matter Isabelle.
We are continuously working on improving our services, and as such this is why we make changes such as the recent change of insurers. ... Read more
Unfortunately, as we are a Superfund and not an insurance company, we are still legislatively required to provide insurance as part of a MySuper product. As part of this we do need to outsource these services in order to provide them to our members. We do our best to ensure our service providers are the best we can offer to our members. In regards to your Co-Contribution, I am sorry to hear that this has not been resolved for you, however our social media team is more than willing to assist you with this. We regularly liaise with our specialist teams to ensure a better outcome for our members, and we would love the chance to rectify this issue for you. Furthermore, we entrust our investments to our experienced investment managers, who strive to find a balance between working towards a greener future, but also keeping risk low to ensure that we are able to provide growth to our many valued members. We will be sorry to see you go, however we respect all members and any choice they choose to make. It is important to remember that your super savings are your own, and you are entitled to choose how they are managed. Once again, I apologise profusely for the distress you and your family have endured, and I hope we will be able to rectify this issue for you as soon as possible. Thanks, Rhiannon.Similar opinion? Write a review on ProductReview.com.au!
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Kristy G.Hobart, TAS
REST are destroying my life !!
am so so upset with rest its always the way the make me sicker and sicked Aia granted my tpd claime its in my super i have recieved no correespondence apparently the trustees need a medical report that has already been sent to aia i was told to ring in ten days ten days ago and now they are saying i need more !! Aia has already submited that i am entitled to it i have been dealing with them for 18 months and now it starts again im so so so desperate for help i would never ever reccomend rest to anyone !!!!
2 comments
Makealah C.Rest Superannuation
Hi Kirsty,
Thanks for getting in touch with us.
I am so sorry to hear that this has happened to you.... Read more
I have sent you my details
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Still_waiting_4_my_moneySydney, NSW
- Verified customer
Questionable delay techniques, high fees and terrible customer service
Three reasons why I recommend you stay away from this super fund:
1) unsolicited high fees
I joined rest over 2 years ago because it was my employer's default super fund. They charged me over au$1500 in insurance fees that I never signed up for and I had to fight for over a year to get my money back. They used every possible excuse to avoid paying me back until I threaten to report them to afca.
2) delay techniques:
Now that I requested early release of my super it's been over a month and I still have not received my money even though their...Read more
3 comments
Rhiannon S.Rest Superannuation
Hi there,
Thank you for providing your valuable feedback. ... Read more
We're sorry to hear of your poor experience with Rest, this is certainly not the customer service that we aim to provide. The account type that is created by employers is part of the 'MySuper' products suggested by the Australian government, a key part of a MySuper product is to provide a basic level of Income Protection, Total and Permanent Disability, and Death cover. We do all we can to ensure our members are aware of this insurance cover, for example by including insurance details in member welcome letters and the Rest Super Product Disclosure Statement (PDS) we send to new members, in insurance commencement letters, and annual statements. Members can also view their account details, including insurance coverage and cost at any time by logging in to MemberAccess or via the Rest app. We do also recommend employers provide the Rest Super PDS and Insurance Guide to new employees when creating accounts for them. I can assure you that our lines are now up to date and we are available and happy to assist you with any enquiries! We also offer flexible contact methods, including an additional phone service that is available through our Rest App and is also available to members over the weekend, between the hours of 9:00am - 6:00pm Saturday and 10:00am - 6:00pm Sunday, AEST. Unfortunately another result of the pandemic was an increase of fraudulent activity within superannuation, and as such we have increased our security protocols to ensure the utmost safety and security of members accounts, we sincerely apologise if this has caused a delay in your payment. Like many financial institutions, we have internal processes that must be strictly adhered to, which ensures the safety and security of your account, and also ensures equality and fairness between members when processing claims. Despite our best efforts, there will sometimes be hurdles that may cause delays in payments, however please be advised that we continue to work towards getting payments out to our members as soon as possible. We have also sent you a private message to follow up with your claim, so that we may assist you in ensuring this is processed. Thanks, Rhiannon.more excuses....
Mikaela L.Rest Superannuation
We have sent you a private message to discuss this further with you and would like to assist you with your withdrawal.
Thanks,
Mikaela.
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Huseyin
- 2 reviews
- 10 likes
Stay away
I requested to have my Rest contributions consolidated with my Host Plus super account; this never happened, instead all my contributions of almost $2000, were eventually depleted down to $0 due to insurance and other fees. Apparently the funds were not consolidated because my identity was unverified. Also, that's some insanely high fees you got there!
Customer service has not been helpful at all. I've called and sent many emails over the last 6 months and not one single person has attempted to rectify this.
2 comments
Alysha B.Rest Superannuation
Hi Huseyin,
I'm sorry to hear that you've had such a poor experience with Rest. ... Read more
We do attempt to keep our fees as low as possible and we make sure our profits go back to members, not shareholders. Our administration fee is $1.30 per week plus 0.1% of your account balance per annum (capped at $800 per annum). You can always find more information about the fees we charge on our website here: https://rest.com.au/member/products/fees-and-charges We would like to review this for you and have sent you a message to discuss further. Thanks, Alysha.Oh Really!!! Yeah, you guys really care about your members. Suddenly I'm getting help am I?
?
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Worse superfund.
Superannuation management fees are way too high.
Customer service is non understanding. I would not Tec come to anyone to deal with them as your money will disappear very soon.
Reviews show everything
1 comment
Rhiannon S.Rest Superannuation
Hello Dean,
Thank you for providing your feedback. ... Read more
I am sorry to hear of your unpleasant experience with our Customer Service Representatives, this certainly is not the standard of service we aim to provide to our members. Rest offers some of the lowest fees among major Superannuation providers. Our administration fee is a combination of a flat rate and percentage fee. You are charged a flat rate of $1.30 per week, then an additional 0.1% of your account balance (capped at $800). Any fees charged above this cap are appropriately refunded to accounts. Up until recently, government legislation dictated that Superannuation providers must provide a basic level of Income Protection, Total and Permanent Disability and Death insurances. We provide average prices in our Product Disclosure Statement (PDS) which we provide to members upon signing up, and encourage employers to provide to their employees when creating new accounts for them. This insurance cover is still part of Rest's products, however as per the government's new 'Putting Member's Interest's First' (PMIF) legislation, this is now provided on an opt in basis. We also ensure that our profits are distributed to member accounts, and not our shareholders. This is part of Rest's member centered approach. Once again, I apologise for your poor experience with Rest Dean, if there is anything we can do, please feel free to reach out to us on one of the below methods. You can chat to us online via rest.com.au/contact-us between 8am – 10pm weekdays, 9am – 6pm Saturday and 10am – 6pm AEST Sunday. And if you have the app, you can also message us or use the click-to-call function. Or, if you’d like to speak with our administration team, you can call us on 1300 300 778 between 8am – 10pm AEST weekdays. Thanks, Rhiannon.Similar opinion? Write a review on ProductReview.com.au!
DavidSydney, NSW
- 3 reviews
- 10 likes
Forgettable, truly forgettable
Turned more than $1550 in contributions into a nice little nest-egg of $74 in a matter of 2 years. Refuse to answer requests as to which T&PD insurance and/or Income Protection insurance wall(s) my money was sprayed up against.
Endless invitations to "ID myself" when approached by telephone by their off-shore call centre despite the nauseating TV advertising stating "we're keeping your money at home"
I earned contributions whilst employed overseas by a charity and had never seen an account statement until I returned and I saw I had money with...Read more
these people on Mygov website. Then we had a dispute over an incorrectly entered (by REST) date of birth. This lead to even more delays. and expenses. I now see reading other people's experiences here that I am far from being Robinson Crusoe in my dealings with these people. I just hope that, unlike me, a potential investor reads these comments before committing their retirement savings to these incompetents.....5 comments
Hannah C.Rest Superannuation
Hi David,
I am truly sorry to hear you have had a poor experience with Rest. This in not the experience we wish for our members and appreciate your feedback.... Read more
Once an account is opened and contributions are made, this is subject to fees and taxes as is standard across all super funds. If you are not going to be receiving contributions on going, this can result in the money being reduced by fees. Rest does it is best to ensure members are aware of their accounts and the fees associated with them, by sending out an initial welcome pack and ongoing annual statements. Unfortunately, when a contribution is made, your account details are automatically set up in our system as per how the employer entered these. I am sorry to hear having this resolved was not an easy process for you. We are always working to improve our experience for members and making this as easy as possible. However, we do have strict privacy guidelines we need to follow to update members account details. My apologies again for negative experience you had with Rest, I hope this helps clarify why this may have occurred Thanks, Hannah.Ho hum.... more meaningless platitudes. Your reply has been copied and pasted from every other unfavourable review REST have received.
And there is no shortage of them......... Read more
But it is all too late for me.... My money is gone! Again, I hope anyone reading this can see exactly how REST operate. In my humble opinion, REST needs to stop pretending to have anyone but their own interests at heart, get their snouts out of the trough, and leave the important business of managing other peoples retirement funds to people who actually have a clue - other more capable, proper financial managers. I will continue to shout your unsuitability and incompetence from the roof-tops to all who will listen..... I can claim my first success already - my daughter has already started the whole "dial 9 to go around in circles" debacle of the off-shore third world call centre shuffle and will shortly grab the tiny sum left in her account and move it elsewhere....Makealah C.Rest Superannuation
Good Morning David,
I am sorry to hear that you feel this way about our company. ... Read more
We are limited with the information we can ask on Social Media platforms to keep our members information safe and as such, our replies may look similar. In the case that a member has asked for our assistance, we will private message them to launch an investigation. Here at Rest, we have a dedicated team who assists with handling members funds and assists them into retirement. We have a pension team who is specifically dedicated to Pension accounts for members. We also have an advice team who are able to assist you with any questions in which you may have or would like to know the options which are available to you. We do not 'hide' any fee's and are open about what is charged to our members and when these chargers are applied to an account. You can read information about possible deductions on your account throughout your annual statements, through the Fee's page on our website, by asking our staff and looking on our two online platforms which show your transaction history. Our offices are based in Sydney as well as having staff around Australia. This allows us to assist members in any state with queries they may have and provide seminars We do also have a LiveChat, Messaging and Email service available to everyone to use, if you have been unable to get a hold of a member of our team through calling. These services are available from 8AM-10PM weekdays, 9AM-6PM Saturday and 10AM-6PM Sunday, AEST. If you have any further questions, please feel free to message us. Thanks, MakealahSimilar opinion? Write a review on ProductReview.com.au!
Questions & Answers
Wazzaasked
I'm over 60. If I retire fully from work force. How do I go about getting some of my money as cash into my bank?
1 answer
Anthony F.Rest Superannuation
Hi Wazza,
Thank you for reaching out to us.
Members are able to access their funds between 60-64 if they cease current employment to retire, or are already retired, or change employers. An alternative can be to setup a Transition to retirement (TTR) until reaching 65 or plan to retire from your current employer.
Rest advice can help with planning for your retirement to ensure you are financially prepared when work stops – this might include making sure your super works hard for you, and seeing if you are eligible for any Government benefits such as the age pension.
Just dial 1300 300 778 between 8am and 6pm AEDT on weekdays, and ask to receive personal advice on setting up your super for retirement.
You can also book a phone call back with this link here: https://rest.com.au/member/advice/restadvice-phone
When declaring retirement, you can commence a withdrawal request using our online benefit payment form. Here is a link to it: https://rest.transactcentral.com/RESTSuper/servlet/SmartForm.html?formCode=benefitpaymentformpu
If you prefer, you can also find a printable PDF version of the form on the same page linked above.
If you decide to print the form, you can email it to contactus@contact.rest.com.au, or post these documents to:
Rest Industry Super
PO Box 350
Parramatta NSW 2124
You may also be required to provide certified proof of ID. For information on how to get your ID certified, here is a link to our proof of ID fact sheet: https://www.rest.com.au/NEW-Document-library/Factsheets-and-Brochures/Member/Proof-of-Identity_FactSheet_WEBSAFE.pdf?ext=.
Once you've submitted your forms, please allow up to 5-7 business days for the process to be completed, and then an additional 1-3 business days for the funds to be cleared into your nominated bank account.
For posted documents, please allow additional time for it to be processed as the amount of time it can take to be received by Rest is dependent on the postal services.
If you have any further queries, you can reach us via the secure live chat service on our website (http://rest.com.au/contact-us). If you have the Rest mobile app, you can also get in touch using the 'Message us' and 'Click to call' features.
Our team is available 8am-10pm weekdays, 9am-6pm Saturdays and 10am-6pm Sundays AEDT.
I hope you find this information useful.
Thanks,
Anthony
Kerrie Elmerasked
Can I apply for my super on the grounds of hardship when on income protection payments.
1 answer
Jessie H.Rest Superannuation
Good morning Kerrie,
Thank you for reaching out to us in regards to this.
I am sorry to hear you are going through a difficult time and hope that we can assist you moving forward.
The criteria for withdrawing under financial hardship, though quite strict, does not bring into account any source of income except for Centrelink.
To be eligible you must meet criteria under either Case 1 or Case 2; which I will explain below:
Case 1-
You must have been receiving Commonwealth income support payments for 26 continuous weeks and be unable to meet reasonable and immediate family living expenses
Case 2-
You have reached your preservation age, plus 39 weeks and you have been receiving Commonwealth income support payments for a cumulative period of 39 weeks since reaching preservation age.
For this case you must also not be gainfully employed at the date of application (unemployed or employed for less than 10 hours a week)
The applicable payment types are as follows:
- Age Pension
- Austudy
- Bereavement allowance
- Carer payment
- Disability support pension
- Farm household allowance
- Newstart allowance
- Parenting payment
- Partner allowance
- Sickness allowance
- Special benefit
- Widow allowance
- Wife pension
- Youth allowance
If you are a full-time student, you must not be receiving ABSTUDY, Austudy or Youth allowance to qualify.
Should you not meet either of these Kerrie, we have other options that we can discuss.
In order to withdraw your super you must meet one or more of our conditions of release.
Please see below for Rest's Conditions of Release:
- Reach age 65, or stop working on or after age 60
- Retire permanently from the workforce after reaching your "preservation age"
- Reach your preservation age and receive super benefits in a pension whilst still working (TTR)
- Become permanently incapacitated
- Are diagnosed with a terminal illness with a life expectancy of less than 24 months
- Leave or change your employer and your preserved benefit is less than $200
- Are a temporary resident permanently leaving Australia
- Satisfy the relevant Australian regulatory body that your money should be released for compassionate reasons.
- Financial hardship as defined by the ATO
- Early release due to hardship brought on by covid-19
Because I am not fully aware of your situation, I am not able to provide the relevant information at his time. If you could please go to the link below, this will take you to a web page that outlines our criteria and eligibility for early release of super:
Alternatively, if you would like to send us a private message, I would be happy to assist you further.
You can also chat to us online via rest.com.au/contact-us between 8am – 10pm weekdays, 9am – 6pm Saturday and 10am – 6pm AEDT Sunday.
And if you have the app, you can also message us or use the click-to-call function.
Or, if you’d like to speak with our administration team, you can call us on 1300 300 778 between 8am – 10pm AEDT weekdays.
Thanks,
Jessie
Why do you keep using delay techniques to hold on to people's money? Why does your phone lines keep customer waiting for more than 1h without an answer?
1 answer
Makealah C.Rest Superannuation
Hi there,
I am very sorry to hear that you feel this way.
I can assure you that we do not use delay techniques to hold onto members money. Our phone lines may currently be busy, however we have other platforms which you can contact us on to assist you.
You can use the 'Click-to-Call' or 'Message Us' function in the Rest App, using our LiveChat feature on the Rest Website (rest.com.au) or I can get a few details off you today and assist you with your enquiry.
Thanks,
Makealah
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Lauren C.Rest Superannuation
Hello Dija,
We are truly sorry to learn of yours and your partner's situation and thank you for bringing this matter to our attention.... Read more
There are strict rules around when your super benefits can be paid, these are known as conditions of release and are set by the Federal Government. To access your super, you must satisfy one of the conditions of release. The most common conditions of release for paying benefits are when a member: - has reached their preservation age and retires - has reached their preservation age and begins a transition-to-retirement (TTR) income stream - ceases an employment arrangement on or after the age of 60 - is 65 years of age (even if they haven't retired) There are some special circumstances where at least part of your super benefits can be released before you have met a condition of release, this is known as early release. To be eligible to apply for early access to your super under severe financial hardship, you must be currently receiving an eligible income support payment from Centrelink and have been receiving that payment for 26 continuous weeks or more. To be eligible to apply for early access to your super on compassionate grounds for unpaid expenses, you must meet the criteria for at least one of the compassionate grounds determined by the Australian Taxation Office (ATO) which include: - medical treatment and medical transport for you or your dependant - making a payment on a home loan or council rates so you don't lose your home - modifying your home or vehicle or buying disability aids to cater for the severe disability of you or your dependant - palliative care for you or your dependant - expenses associated with the death, funeral or burial of your dependant We would like the opportunity to look into this for you Dija and have sent you a private message to obtain further details. Speak with you soon, Lauren