How to nominate a beneficiary for your super

Just like your house and car, super can often be one of your biggest assets, especially if you’ve been in the workforce for a long time. But unlike some other assets, super and any insurance you may have aren’t automatically considered part of your estate. To determine where your super and insurance goes, you can make a nomination with your super fund. The person you choose to nominate is called your beneficiary.

 

Who you can nominate as a super beneficiary

This will depend on the type of beneficiary nomination you have, but generally* your nomination must be either:

  • Your spouse, including de-facto couples
  • Your child including adopted, step or ex-nuptial child
  • A person with whom you have an interdependency relationship
  • A person who was financially dependent on you at the time of your passing
  • Or your legal personal representative -someone legally recognised by you to manage your affairs, usually the legal executor or administrator of your estate.
* For reversionary beneficiary nominations, you cannot nominate your legal personal representative, and special conditions apply to nominating children.
sml_beneficiary_icon.png Tip: You can’t choose a pet or organisation as a beneficiary. 
 

What types of beneficiaries can you nominate?

In super, you can generally either make a binding or a non-binding beneficiary nomination.

 

Non-binding nominations

  • Are not binding on your super fund
  • Will act as a guide to your super fund in determining who receives your super.


Binding nominations

  • You have the final say in who receives your super
  • They are binding on the super fund.

Nominations can also be lapsing or non-lapsing.


Lapsing nominations

  • Generally valid for three years
  • You must renew it within the three years for it to be valid.


Non-lapsing nominations

  • Doesn't expire after any period of time
  • If your circumstances change, it's important to re-visit this nomination to make sure it's stillappropriate.

In pension, in addition to the above nominations, you may also be able to make a reversionary beneficiary nomination.


Reversionary beneficiary

  • You can usually choose for your beneficiary to receive ongoing pension payments or a lump sum payment.
  • Special conditions apply, so it's important to speak to your super fund and seek advice.

How do you nominate or review your beneficiaries?
 

You can review your beneficiary anytime in the Rest App or in Member Access.

The easiest way to update your non-binding beneficiary is via the Rest App or Member Access.

To make or update a binding beneficiary, please complete the "Nominate a beneficiary" form and return it to Rest.

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