Are you a member of Retail Employees Superannuation Trust (REST)?

What is REST?

The Retail Employee Superannuation Trust (REST) is one of Australia’s largest superannuation funds with around 1.7 million members and around $54 billion in managed funds.

Traditionally REST Super members have been those employed in the retail industry, including shop assistants, fast food workers and other employees covered by a retail industry award.

Insurance with REST

REST offers default insurance to all members, specifically:

Death: a lump sum paid to your beneficiaries or estate if you become terminally ill or die. Under some conditions, this can also be paid as a pension;

Total and Permanent Disability (TPD): a lump sum payment to help relieve the financial pressure if you’re unlikely to ever work again due to illness or injury; and

Income Protection (IP): a monthly payment to live on if you can’t temporarily because of illness or injury.

REST is one of the few industry super funds that offer income protection by default to its members, paying up to five (5) years of benefits after a 60 day waiting period.

Who is covered by REST insurance?

If you are over 25 years old, have over $6,000 in your super account and receive a mandatory employer contribution, you will receive default cover for death, TPD and IP as a member of REST.

If members do not meet age and account balance criteria, they can apply for any of the REST insurance products.

Additionally, members can apply for a specific type and amount of cover that suits their needs, though you may have to make medical disclosures to receive additional cover.

What can I claim for?

If you’re off work temporarily or permanently because of an injury or illness, regardless of how it occurred, you may be entitled to claim the insurances you hold with REST.

Remember, if you’re a REST member you’ve likely been paying insurance premiums for many years without realising it, so you are entitled to make a claim if you’re a good candidate!

What now?

Many Australians are members of REST, however understanding your insurance entitlements and how they intersect other medico-legal disciplines can be complex.

Know your rights.

If you are yet to make a claim for your REST Super entitlements, you are entitled to legal representation and Littles can help you.

If you have already lodged a claim and it has been rejected by a superannuation fund or insurer, you may be entitled to have the decision reviewed through an internal resolution procedure.

If your complaint has been upheld, you may be able to litigate in a court or lodge a complaint with the Australian Financial Complaints Authority (AFCA).

There are strict time limits to challenge an insurer’s decision, so it’s important you seek legal advice as soon as possible.

What is the Littles difference?

Put simply, Littles are experts in superannuation and insurance law matters.

Our insurance team has helped thousands of consumers claim their entitlements, and our Head of TPD and General Insurance has extensive industry knowledge and insight on how to maximise your prospects of success.

We also speak your language, at sixteen languages and counting. Forget paying for a translator or for a lawyer who doesn’t understand you and your cultural background.

All our superannuation and insurance law matters are conducted on a no win, no fee basis, and we don’t charge you upfront for any disbursements necessary to prosecute your claim.

If you would like superannuation and insurance law advice, reach out to Littles today by using our free Claim Checker.

About the author

Rowan Mcdonald

Littles’ Head of TPD and General Insurance, Rowan McDonald, is an expert in insurance and superannuation law. Rowan has over thirteen years of experience in the industry and has prosecuted thousands of successful insurance claims for consumers.

Having worked in the industry for over a decade, Rowan has an extensive industry contact list and regularly presents to disability support groups, financial industry professionals and multicultural organisations.

Rowan has also advised some of Australia’s top insurers, giving him unrivalled insight into the claim process from all perspectives. Rowan takes a pragmatic and common-sense approach to the advice he provides his clients.

For your free, personal consultation get in touch with Rowan today.

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