Opening up early access to super for housing would have a negative effect on the balances of even those members that don’t dig into their savings, with funds forced to adopt more conservative investment strategies and hold more liquid assets.
The circa $88 billion industry fund for workers in health and community services reckons that alleviating the affordable housing crisis will boost its other investments by easing the cost of living and inflation.
Rest chief member officer heads for the exit
Rest chief member officer Deborah Potts has made the “difficult decision” to step down from the role after nine years with the fund and is set to finish up in mid-December.
Andrew Ford, Rest general manager for brand and member experience, will step into the role on an interim basis while the fund searches for a replacement.
“As Rest’s first chief member officer, Deborah has been a passionate member advocate and leader who is deeply committed to embedding simplicity and ease across our member experience,” said Rest CEO Vicki Doyle.
“Her achievements include building Rest’s digital, personal and general advice capability; setting up our industry and employer team; and, more recently, launching our simplified investment menu changes and our new brand visual identity.”
That new visual identity was an attempt to make it easy for Rest’s members to “build a relationship with their super” through a simpler, more contemporary brand that improved accessibility scores, Potts said at the time.
Potts held a number of roles with the fund since joining in 2015, including head of member education and advice and group executive for employer and industry engagement. Before joining Rest she was national head of the Magnitude dealer group at BT Financial.
“I have loved my time at Rest and the opportunity to make a real-life difference to Rest’s 2 million members by simplifying their experience of super,” Potts said. “After nine terrific years at Rest, now is the right time to shift focus. I’m incredibly proud of the team and all we have achieved together.”
Potts’ departure comes hot on the heels of the exit of inaugural chief investment officer Andrew Lill, who announced he would be leaving the fund in October after four years.
