Review Time
The other REST reviews provided are an extremely accurate depiction of this miserable company.
REST’s customer service is terrible and completely flawed. Whilst processing a rollover request, the constant delays and lack of information as to why the request gets rejected caused far too much stress. I had to continually call and message up to see why my rollover does not go through. All the while, receive conflicting information from their own support channels. The lack of ownership taken to assist their customers is simply outrageous. They will seriously just pass you off and you will speak to x20 representatives to solve your ONE single problem. Great system.
They really don’t have any incentive to put money toward customer support channels to people leaving the fund, which explains why their support is terrible I guess.
I would urge anyone to NOT join with REST if you are considering this as your retail fund. They’re all well and fine to keep taking your money through fees when you don’t need them to action anything, but as soon as you might require them to actually do work for you (such as process a rollover or payout) their useless customer support will let you down without fail.
Do NOT join up with them if you’re on the fence.
The other REST reviews provided are an extremely accurate depiction of this miserable company. REST’s customer service is terrible and completely flawed. Whilst processing a rollover request, the constant delays and lack of information as to why the request gets rejected caused far too much stress. I had to continually call and message up to see why my rollover does not go through. All the while, receive conflicting information from their own support channels. The lack of ownership taken to assist their customers is simply outrageous. They will seriously just pass you off and you will speak to x20 representatives to solve your ONE single problem. Great system. They really don’t have any incentive to put money toward customer support channels to people leaving the fund, which explains why their support is terrible I guess. I would urge anyone to NOT join with REST if you are considering this as your retail fund. They’re all well and fine to keep taking your money through fees when you don’t need them to action anything, but as soon as you might require them to actually do work for you (such as process a rollover or payout) their useless customer support will let you down without fail. Do NOT join up with them if you’re on the fence.
Awful company. Refuses to release your money, even when you have everything you need for a successful claim. Instead, they drag it out and pass the ‘claim’ on to another person and constantly do this. This is whilst they keep charging you almost a $100 a month for your inactive account. My advice is to change your provider or sign up with another if you are setting up your rest.
Trying to get my super rolled over to another funds. Constant delays, have contacted REST on 6 occasions trying to find out what is going on. Each person tells me a different date and timeframe. All dates have passed and still no transfer. Complaint now lodged with AFCA as this fund is dishonest and unreliable
Joined Rest and their subsequent actions likely involve financial fraud to limit losses on their Core Strategy fund by milking new rollovers . . .Email today 2/7/2024:On 29/6 Rest’s negligence left me with no option but to instigate a switch from Core Strategy to Cash.Rest’s refusal to address the urgent issue and/or freeze my account shall not release Rest from its obligation to repay the loss in value of my rollover which loss has increased from $700 to $846 today. Please also note the following arising from our reading of “We’ve set you up in our Core Strategy investment option”. If the decreases in my rollover value from 165,502 to $164,802 then $164,656 today is due to a decline in Core’s value:1. Rest fully know the minute status of Core and would fully know if value is declining in real time.2. Setting-up new members in a declining fund is wilfully negligent and immoral.3. At the very least, Rest must give reasonable notice to a new member rolling-in that Rest’s defaultfund Core is losing money.4. No one of sound mind would roll into a losing fund.5. If the above is what’s occurring then it’s a strategy with criminal intent to lessen Core’s declining value.6. The ‘Default Option’ listed twice on Rest website clearly seeks to impress new members thatRest’s decision to “set you up” in Core is good for you. No warning or caution accompanies theseimages (see attached).3rd Email of 29/6 (in response to computer generated acknowledgement of switch):The reason I just switched from core to cash is to lower the risk of further fraudulent or unauthorised deductions from my newly rolled funds. Transaction History attached clearly show there is illegal activity on my account because fees total $3.75 not $700! Given the switch will not take effect until 3/7/24, please immediately freeze my account until the missing $700 is returned and my account is secure. I’ve also changed my password (likely pointless as the wrongdoing appears to be internal at Rest).Regards,2nd email of 29/6:I Just switched from core to cash to lower risk of further fraudulent or unauthorised deductions from my newly rolled funds. Will you immediately freeze my account until the missing $700 is returned and my account is secure. Transaction History attached clearly show there is illegal activity on my account as fees total $3.75 not $700! Also why are there two admin fees on the same day?Regards,1st email of 29/6:Just logged in to choose my investment and found $700 missing from yesterday’s rollover (from SMSF ABN _ _ _ _ _ _ _ _). Please return the money immediately!Regards,-Rest haven't responded to the above as of 3.55pm 2/7.-Rest live chat and phone support are a fob-off including "here's a link to APRA if you're not satisfied".
THREE REASONS WHY I RECOMMEND YOU STAY AWAY FROM THIS SUPER FUND: 1) UNSOLICITED HIGH FEESI 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 confirmation sms said it'd take 3-5 days. Every time I try to contact them they have a different excuse and say that it will take another 7 days to process it again. 3) POOR CUSTOMER SERVICE: Their website and telephone line say they are experiencing delay because of COVID, but that is probably just an excuse for their poor customer service. I have been dealing with them for over a year and they have always used questionable delay techniques way before the pandemic started. I often waited over 1h on the phone and nobody answered. Their live chat is often unavailable. Their customer service will tell you they are escalating or prioritising the matter and then don't contact you for a long time until you chase them again.
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Retail Employees Superannuation Trust is an Australian public offer industry superannuation fund established in 1988.
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