Who can you nominate to receive your superannuation?

You can only nominate your legal personal representative (executor or administrator of your estate) or a dependant under superannuation law to receive your death benefit from your superannuation. Under superannuation law a dependant is defined as:

  • your spouse (including a de facto spouse)
  • your children (including an adult child, adopted child or step child)
  • a person who is financially dependent on you at the time of your death; or
  • a person with whom you have an interdependency relationship at the time of your death

If you wish to nominate someone who is not a dependant under superannuation law (i.e. siblings or parents), as your legal personal representative, it is important that you update your will specifying how you want your death benefit to be distributed.

What happens if you make no nomination?

If you do not nominate someone specifically, the Trustee of the superannuation fund may:

  • pay your legal personal representative
  • look for eligible beneficiaries and pay them directly

What nomination options are available?

A number of beneficiary nomination options are available, including: 

  • Non-lapsing binding nomination – does not expire, unless another valid nomination is lodged with the Trustee. This option means that you decide who receives your superannuation benefit and in what proportions if pass away.
  • Non-binding nomination – does not expire unless another valid nomination is lodged with the Trustee. This option means that the trustee has final discretion in deciding who will receive your superannuation benefit and in what proportions if you pass away.

The option you chose depends on your individual circumstances.

Chris Chan, Head of Superannuation, T +61 3 8663 6292, E chris.chan@au.gt.com