Australia’s Rest penalised for misleading insurance comms

Rest allegedly activated insurance cover for over 2,000 members without authorization.

Australia's Retail Employees Superannuation Pty Ltd (Rest) has gotten two infringement notices from authorities for alleged false or misleading representations, after Rest activated insurance cover for over 2,000 members.

From June 2024 to January 2025, Rest issued annual statements and emails to affected members indicating that they held active death, total and permanent disability and/or income protection insurance in the fund, according to the Australian Securities & Investment Commission (ASIC).

However, the affected members had previously cancelled, chosen not to receive, lost or otherwise not held insurance cover in the fund, ASIC said.

The infringement notices amount to A$37,560. Rest paid the infringement notices on 22 September 2025.

Rest is the trustee of Rest Super, an industry superannuation fund with over 2 million member accounts.