Super is one of the biggest assets you can accumulate in your lifetime, so it's important to make sure you get to decide what happens to it.
If you don't nominate how you want your super distributed, the trustees of your super fund will pay out your death benefit in accordance with the fund's rules. This could include your benefit being paid to your estate, or the trustee may decide who your super goes to – and it may not be the person or the people that you had in mind.
You can nominate specific beneficiaries to receive your super benefit by making a binding death benefit nomination. However, you can only nominate your dependants. This means:
- your current spouse (including de facto and same sex spouses)
- your child (biological, adopted or stepchild)
- any person who is financially dependent on you, or
- any person with whom you have an interdependency relationship.
You will generally need to renew your binding nomination every three years. Alternatively, some funds, like CFS, offer non-lapsing death benefit nominations, which never expire.
Download the non-lapsing death benefit nomination form