Many workers in the Retail and Fast Food sectors have been, or still are, locked into REST Superannuation.
We are highly critical of REST because they have paid SDA Leaders 'director fees' for many years. They paid the then National President of SDA, Joseph De Bruyn, over $500 000 in the period 2014 to 2018. The 'director fees' paid to De Bruyn were not paid to SDA but to him directly.
REST has also maintained a specific position against "divestment". Divestment is a progressive position where investments are "divested" from fossil fuel exploiting companies. Those who refuse to divest often invest in the fossil fuel companies which are notorious for the damage they do to our environment - including catastrophic climate change.
Analysis shows REST has not performed well, charges more fees than Industry Super funds and has instituted default insurance products against young workers (those under 25) which other superannuation funds have stopped.
We do not provide financial advice and you should consult a qualified financial advisor before making any decisions about your superannuation options.