Who’ll get your super if you die? 

It is highly likely that your superannuation benefit will become one of your most valuable assets. However, what you may not realise is that this benefit on death does not automatically form part of your estate and therefore is not covered by your Will. A valid binding death benefit nomination can help alleviate any concerns you may have regarding how your superannuation benefits will be distributed following your death.

Under the current Fund arrangements, members can nominate to whom they would like their benefit paid in the event of their death by either making a binding or non-binding death benefit nomination.

To date, only 9.5% of Fund members have made a binding death nomination.

In the event that you die without a valid and 'in effect' binding death benefit nomination in place, the Trustee of the Fund will be required to exercise its discretion to decide on payment of your death benefit to any one or more of your dependants or to your estate.


What’s the difference between binding and non-binding nominations? 

Binding nomination 

If you make a valid binding death benefit nomination the Trustee will pay your benefit as nominated. This allows members to plan with certainty, knowing how their superannuation benefit will be paid in the event of their death (provided all requirements are complied with, including that any individuals nominated remain within the 'dependant' definition). 

See the Beneficiary factsheet for an explanation about who can be a dependant. 

Binding nominations are valid for three years. However, a binding nomination should be reviewed if your circumstances change (e.g. birth of children, marriage or separation etc), as the Trustee has no discretion when paying a death benefit that is subject to a valid binding nomination. 

Generally, a valid binding death benefit nomination will expedite the release of your superannuation benefit relative to a non-binding nomination. 

Non-binding nomination 

This type of nomination is not binding on the Trustee. That is, the Trustee will take your nomination into account but is not bound to follow it. As with a binding nomination, if you have made a non-binding nomination it should be reviewed if your circumstances have changed. 

You may amend or revoke your death benefit nomination at any time. 

How to make or update a nomination 

You can make death benefit nominations (binding or non-binding) and update your beneficiaries at any time. To make a binding nomination, complete and return a Making a binding death benefit nomination form. Be sure to follow the instructions on the form to ensure your nomination is valid. Or you can make or change a non-binding nomination on the Beneficiaries page in your online account or complete and return a Making a non-binding death benefit nomination form. You can call the Helpline on 1800 025 026 for assistance with making a death benefit nomination. 

Your annual Member Statement shows your nominated dependants and the proportion of your death benefit that you want them to receive in the event of your death. It also shows if your nomination is binding or non-binding. 

Please note you should seek financial advice before making any decisions in regard to your superannuation.

31 January 2024