New corporate super fund hits the market

The $27 billion industry superannuation fund REST has become the first industry fund to launch a MySuper product for the corporate sector.

REST Corporate is an employer-sponsored MySuper offering with salary-based insurance, designed to make compliance with the government’s Stronger Super regulations simple for employers.

REST chief executive Damian Hill said the MySuper rules had created a significant administration burden for many employers, with the industry already suffering from “compliance fatigue”.

“We have created a low cost solution that makes it simple for employers to meet their obligations and administer their employees’ super contributions well ahead of the upcoming government deadline,” he said.

“Additionally, REST Corporate offers a new insurance design adjusted according to employee’ income levels which, combined with the flexibility for employees to choose their own level of cover, ensures it is as appropriate as possible.”