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make sure your super

make sure your super

goes to someone you love

goes to someone you love

 

As your super doesn't form part of your will or estate, it isn't automatically paid to your loved ones. That's why it's important to nominate your beneficiary, so that if anything happens to you, your super will go to the people you love.

nominating your super beneficiaries

To make your wishes known about who you want to get your super, you need nominate your beneficiaries on our Non-lapsing Super Beneficiary Nomination Form. It is called “non-lapsing” because your nomination stays valid until you revoke it or make a new one.

 

FAQs


  • You may have received this letter and new form because you do not have a nominated beneficiary on your account. Your super savings can have a major impact on your family should you pass away, so keep your beneficiary details up to date.

  • A non-lapsing super benefit nomination is a request by you to the trustee of the fund to pay your death benefit to the person or persons nominated on your non-lapsing death benefit nomination form. The trustee may consent to your nomination if your nomination satisfies the requirements described. We are required to follow your nomination if, prior to your death, you complete and we receive your valid non-lapsing death benefit nomination, and we consent to that nomination. The nomination remains valid until you revoke or make a new nomination. This can provide you with greater certainty on who will receive your super benefit when you pass away.

  • No. CFS will provide confirmation that a nominated beneficiary form has been completed correctly, however it is your responsibility to ensure the beneficiary is eligible, based on who you can nominate. We will only check to see whether your nominated beneficiary is a valid beneficiary at the time of your death.

  • No, it is optional and a choice for you to make.

    Even if you’ve written a will, super isn’t automatically included in your estate assets. ‘Estate assets’ are assets that are distributed by your will when you pass away.

    Different laws apply to your super. Which means super isn’t treated the same as your house, car, savings or other possessions.

    For peace of mind, you should make a written death benefit nomination. Otherwise, in most circumstances, your super will be paid to your estate.

  • Even if you’ve written a will, super isn’t automatically included in your estate assets. ‘Estate assets’ are assets that are distributed by your will when you pass away.

    Different laws apply to your super. Which means super isn’t treated the same as your house, car, savings or other possessions.

    For peace of mind, you should make a written death benefit nomination. Otherwise, in most circumstances, your super will be paid to your estate.

  • You can only nominate your legal personal representative and/or your dependants. It’s important to get this right so that your nomination is valid. Read more about who you can nominate.

  • Your nomination will not be treated as being valid at the time of claim, and the super fund trustee may use their discretion to pay the appropriate person, or direct your super to your estate depending on your personal circumstances and evidence received.

  • You can nominate your legal personal representative as your beneficiary so that your super is paid to your estate. You will need to include your preferred person in your will to receive your super death benefit from your estate.

  • It is important to review your nomination regularly to make sure it is still appropriate. If you marry, separate or divorce, start a de facto relationship, have a child, or if someone you nominate has died, or is no longer dependent on you, then you should update it.

  • No - by nominating a beneficiary, this person will only receive your super in the event you pass away. If you want someone to be able to help you with your financial affairs, this requires you to appoint a power of attorney. You should speak to your legal adviser if you wish to do that.

  • The form provided here is just for your Super. If you have a pension product, please review and complete the correct form as can be found on our website.

  • Any alterations to the completed form must be initialled by you and both witnesses. Both witnesses must sign this form on the same date as you.

  • No. The date you sign must match the date of your two witnesses. Do not sign until you are in the presence of two (2) witnesses otherwise your nomination will be invalid.

  • You need to take care in completing the form correctly. The super fund trustee will only check to see whether your nominated beneficiary is a valid beneficiary at the time of your death, when it is too late for you to correct it. If a valid beneficiary has not been nominated, the super fund trustee may use their discretion to pay the appropriate person/s or direct payment to your estate depending on your personal circumstances and the evidence received.

  • Advisors are able to assist you to complete the form but ultimately it will require your signature and two (2) witnesses. The witnesses must be present at the time you sign the form.

  • You will receive a confirmation that your beneficiary has been updated and you will be able to check your nominated beneficiaries by logging into FirstNet or in the CFS App. You can also see your beneficiaries on your statement.

This is general information only and does not take into account your personal circumstances. Please talk to your financial adviser for more information on non-lapsing death benefit nominations and your personal estate planning needs.

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Disclaimer

Colonial First State Investments Limited ABN 98 002 348 352, AFS Licence 232468 (Colonial First State) is the issuer of interests in FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. The PDS and FSG can be obtained from or by calling us on 13 13 36.