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It’s likely that your super and insurance cover will be one of your biggest assets. No one likes thinking about what will happen when they die, but taking a few minutes now to plan ahead will make it much easier for those you care about.

Because your super is treated differently to other assets in your estate it’s important to tell us how you’d like your benefits distributed. You do that through a beneficiary nomination.

Binding beneficiary nomination

A binding nomination means we must pay your benefit according to your nomination, provided the nomination is still valid at the time. It’s the best way to make sure your super benefit goes to the people you care about. We’re obliged to follow a valid binding nomination, so it’s important to renew it whenever your circumstances change or at least every three years for it to remain valid.

Non-binding (preferred) beneficiary nomination

If you make a non-binding nomination, we’re not bound by your nomination. We’ll use it as a guide when deciding who will receive your benefit, along with other relevant information, but can’t guarantee it will go to the people you nominate.

Reversionary beneficiary nomination

A reversionary beneficiary is an eligible dependant who will continue to receive payments from your Income account if you die. It’s only available when you first activate your Income account.

 

How to make a beneficiary nomination

You can make or update a non-binding beneficiary nomination any time by logging onto Member Online. A binding nomination can only be made or changed by completing the Beneficiary nomination form.

A reversionary beneficiary nomination can only be made when first activating your income account by completing the relevant details on the Income account activation form within the Income account guide.

 

Who can you nominate?

You can’t just nominate anyone. By law, your super (including any insurance cover) can only be paid to your dependants and/or your legal personal representative (the executor of your Will or administrator of your estate).

Dependants can be your spouse (including de facto or same sex), children or other people who rely on you for financial support or someone you have an interdependency relationship with. You can find out more from our fact sheet.

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