Largest industry fund to join MySuper

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REST Industry Super has announced it has become one of the largest industry super funds by membership to receive its MySuper authorisation from APRA.

The authorisation will allow REST to offer members a MySuper option that includes a single diversified investment option; with low fees that meet legislative requirements and default levels of death and disability insurance from 1 July 2013. 

More than 150,000 employers will use REST to meet their obligations to contribute to a MySuper offering next year.

REST Industry Super CEO, Damian Hill says, “REST Industry Super has been a contributor to the development of MySuper in consultation with the government. Our existing flagship product is already similar to the Government’s MySuper offering requirements. We will continue to work with employers and members to inform them of these important changes as they occur to ease the transition.

“The introduction of MySuper is a very welcome development because it will result in a simpler set of product features enabling members to compare funds more easily.”

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  • Fedup on 17/04/2013 10:31:48 AM

    What have the Industry funds been doing with the extra profits up to now. If they can now offer MySuper products with lower fees. I thought Industry funds were already doing this. No Profit funds only operating for members benefits. MrSilk is obviously a member as he is most certainly operating for his benefit. No doubt the administrators of Rest super are members as well as they are most definitely operating for their benefit. Huge wages, cars, buildings all the trappings of a capitalist with the benefit the socialist system of forcing people to use them at gun point. All the time claiming to be the good guys!!! Not bad boys you even keep a strait face when you say it.

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