Eligible Rollover Fund
REST has a broad power provided by legislation to roll over a member’s benefits to another fund, called an Eligible Rollover Fund or "ERF".
Effective May 2007, the trustee appointed AUSFund, Australia’s Unclaimed Super Fund as the Eligible Rollover Fund (ERF) for REST and Acumen. Prior to 2007 REST's ERF was the Australian Eligible Rollover Fund.
When REST will rollover your benefits to AUSFund
- REST has attempted to contact you and correspondence has been returned unclaimed (i.e. you are a ‘lost member’), and you have an account balance that is insufficient to pay REST’s fees; OR
- REST has been advised that you:
- have left your employer
- have an account balance that is insufficient to pay REST’s fees (Note that this will change depending on your investment returns relative to your fees), and
- have not contacted REST where you would like to roll over your benefits.
How your benefits are affected
When your benefits are transferred to an ERF, your benefits may be affected because:
- You will cease to be a REST member and will no longer have any insurance cover
- You will become a member of AUSFund and will be subject to its governing rules. If REST can provide AUSFund with your contact details, AUSFund will provide you with their Product Disclosure Statement
- AUSFund is required to ‘member protect’ your benefits. Generally, this means you will not be charged administration fees if your investment returns are insufficient to cover cost, however government taxes are still deducted
- AUSFund will invest your benefits in a balanced strategy, which may provide lower returns than the investment option(s) in which your account is invested in REST
How to contact AUSFund
AUSFund
PO Box 2468
KENT TOWN SA 5071
Telephone: 1300 361 798
Email: admin@ausfund.net.au
Web: http://www.unclaimedsuper.com.au
ERF prior to May 2007
Before May 2007, the Fund’s ERF was Australian Eligible Rollover Fund (AERF). The AERF can be contacted as follows:
The Secretary
The Australian Eligible Rollover Fund
Locked Bag 5429
PARRAMATTA NSW 2124
Telephone: 1800 677 424