Industry superannuation fund REST will embark on another marketing campaign to boost member co-contributions.
The campaign is part of the fund's annual strategy to encourage members to take advantage of the government's co-contribution before the end of the June financial year, according to REST chief operating officer Paul Sayer.
"We achieved success with last year's campaign where we received $64 million in government contributions," Sayer said.
The campaign will target 200,000 members, including those who have made co-contributions and members who have not yet taken advantage of the scheme.
"Members will be targeted online and through employers. We will be including posters in workplaces and information in our members' payslips," Sayer said.
He said while members might find it difficult to put $1000 toward their superannuation, the campaign will convey that such an amount represents around half a coffee a day for a year.
"It's about getting a range of messages across so that our members understand their superannuation. We will also continue our existing marketing campaign that encourages members to consolidate their superannuation as well as provide the fund with their TFN [tax file number]," he said.
Sayer said the fund expects less government co-contributions this financial year given its changes to the scheme announced in last year's budget.
Under the changes, the government will continue to match $1 for every $1000 a person contributes to their superannuation. Previously, the amount was $1.50 for a maximum $1500 contributed.
REST is one of the fastest growing superannuation funds, according to the latest research from Tria Investment Partners.
