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Let's start with the basics

  • What is a beneficiary?

    A beneficiary means the person you choose to get the money from your super accounts and insurance payout (death benefit) when you die.

  • Why do I need to name a super beneficiary?

    Your super doesn't automatically form part of your estate and your Will.

    So, the only way to make sure your money goes where you want it to is to tell us.

  • What happens if I don't have a beneficiary?

    We make the decision on who gets your death benefit money. It might not be who you want.

    It may also mean delays in payouts, adding extra stress to your loved ones.

    What happens to super when you die
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Got it, what else should I know?

Different types of beneficiaries

We offer 3 options for nominating beneficiaries for superannuation.

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Binding beneficiary nomination

This makes sure your super and insurance benefits go to the person, or people, you've chosen. It's legally binding.

But you must renew a binding nomination every 3 years to keep it active.

Name or update beneficiaries
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Preferred (non-binding) beneficiary nomination

We'll use this as a guide for who to pay your super and insurance benefits to when you die.

It's not legally binding. But it will be an important factor in our decision.

Choose your beneficiaries
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Reversionary beneficiary nomination (for Income accounts)

This option lets you redirect your Income account payments to your spouse or de facto after you die.

A reversionary nomination takes priority over any binding nominations.

Name your spouse or de facto

How do they compare?

Binding beneficiary nomination Preferred (non-binding) beneficiary nomination Reversionary beneficiary nomination
Is the nomination legally binding? Yes No. But we'll use it as an important guide in our decision. Yes
Who can be named a beneficiary? Your dependants or your legal personal representative Your dependants or your legal personal representative Your spouse or de facto when you die
When can I make a nomination? Any time Any time Any time
Can I change or update it? Yes Yes Yes
Will my nomination expire? Yes, every 3 years No No
Are your loved ones covered?
Are your loved ones covered?

Insurance in super can help give financial security to your family. Check your options with us today.

Who can be a beneficiary?

For binding and preferred nominations, you can name:

  • Your spouse
    Your spouse

    The person you're married to or your de facto partner (includes same-sex partners).

  • Your children
    Your children

    Includes natural, adopted and stepchildren of any age.

  • Your financial dependant
    Your financial dependant

    This means anyone who gets regular financial help from you for things like money, clothes, or food.

  • Someone in an interdependent relationship with you
    Someone in an interdependent relationship with you
    • You have a close personal relationship
    • You live together
    • One or each of you gives the other financial support, domestic support, and personal care.
  • Your legal personal representative
    Your legal personal representative

    You can name the executor of your Will or administrator of your estate to deal with your death benefit.

Who can be a reversionary beneficiary?
Who can be a reversionary beneficiary?

You can only choose your spouse or de facto as your reversionary beneficiary.

How to make someone a beneficiary

The easiest way to tell us who you want your super to go to if you die is through Member Online.

You can also download a form. If you're making a preferred nomination, you can use our app, too.

Get started in Member Online
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Prefer to download a form?

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Make a binding nomination

You can also change or cancel a binding death benefit nomination online.

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Make a preferred (non-binding) nomination

Fill out the Change of Details form.

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Make a reversionary nomination

Only use this if you have an Income account.

Your choices may impact tax and things like Centrelink entitlements for your beneficiaries. It's a good idea to speak to a financial adviser before making a decision.

What if I’m a beneficiary?

If you're named as a binding or preferred beneficiary on an Accumulation or Income account, you'll get their account balance all at once (lump sum) or as a pension, including any insurance payout.

Depending on your age and personal circumstances, you can get the money as regular income payments.

I’m a reversionary beneficiary

If you're a reversionary beneficiary, you can either choose to get income payments from their account as long as the balance lasts or take out money all at once.

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What about tax if I'm a beneficiary?

What about tax if I'm a beneficiary?

The tax on super death benefits depends on your relationship to the person who died. It's worth getting financial advice about your inheritance.

How to claim a death benefit

How to claim a death benefit

A death benefit is when you get someone's super and any insurance they had on their super account when they die.
Use our 3 steps to making a claim for super and insurance death benefits.

Learn more about who gets your super

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For your super account

For your super account

Download our Super Savings Accumulation Guide for all the details about beneficiaries.

Frequently asked questions about beneficiaries

Can't find the answer you're looking for? Give us a call.

Contact us

If you pass away before getting payments equal to your Lifetime Pension purchase price, what happens depends on which option you’ve picked.

Single option

If you have the single option, we pay the difference to your beneficiaries (if they're eligible).

Sometimes limits apply under super law known as the capital access schedule (CAS).

Spouse protection

It’s different if you have a spouse protection option. With this option, your spouse is your reversionary beneficiary. That means they’ll get your payments after you die.

Learn more about Lifetime Pension beneficiaries.

You can add a beneficiary through Member Online anytime - just choose the type of beneficiary and the account it's for, and follow the prompts.

You can also use our app if you want to add a preferred beneficiary.

You can replace, renew, or cancel your existing nomination, at any time. It's easy to do this through Member Online or by using one of the forms on this page.

The benefit we pay depends on your account type:

  • Accumulation account: The benefit is the sum of your account balance plus any eligible insurance at the time of your death.
  • Transition to Retirement or Retirement Income: The benefit is your account balance at the time of your death.
  • Defined Benefit or Corporate Lifetime Pension account: We pay any benefit according to the rules of your plan at the time of your death.

Making a Will is one of the best things you can do for those you leave behind. It outlines how you want your estate (also known as your assets or net worth) to be shared.

If you'd like to leave your super to someone who's not a dependant (for example, your parents, siblings, or a charity), you can:

  • name your legal personal representative in your binding death benefit nomination
  • then use your Will to name who you'd like your super to go to.

Remember, you'll likely need to update your Will throughout your life as your situation changes.

Think about getting legal advice and financial advice before making any decisions.

Make things a little easier for your loved ones

Add or update your beneficiaries so your money's left in the right hands.