Nominating a beneficiary helps make sure your super and any insurance that might be paid through your super, is paid to the people in line with your wishes if you pass away. Setting up a nomination is straightforward and can give you peace of mind. 

You can generally nominate, review or change your beneficiary at any time.  

A beneficiary nomination records who you would like your super to be paid to, and in what proportions. There are rules around who you can nominate, and the right type of nomination will depend on your personal circumstances. 

There are different types of nominations, each offering a different balance of certainty and flexibility. 

Preferred (non‑binding) nomination 

A preferred nomination lets you tell us who you would like to receive your super. While we will take your nomination into account, it is not legally binding. 
If you die, the Trustee will decide how your benefit is paid between your dependants and/or your legal personal representative (the executor of your estate), taking your preferred nomination into consideration. This allows the Trustee to consider changes in your circumstances even if you haven’t updated your nomination. 

You can set up or change a preferred nomination online in the member portal. 

Binding nomination 

A binding death benefit nomination is a formal, legally binding instruction that tells us exactly who should receive your super and in what proportions. 

If your binding nomination is valid and hasn’t expired at the time your benefit is paid, the Trustee is required to follow it. 

Things to know about binding nominations: 

• You can only nominate people who are considered your dependants under superannuation law, or your legal personal representative. 
• Binding nominations need to be reviewed and renewed every three years. If they are not renewed, they will lapse. 

To make or update a binding nomination, you’ll need to complete a binding death benefit nomination form and submit it to us. 

What happens if a binding nomination lapses? 

Binding nominations don’t last forever. If your binding nomination expires and isn’t renewed, it automatically becomes a preferred (non‑binding) nomination. 

That’s why it’s important to review your nomination regularly, especially if your personal circumstances change. 

Reversionary beneficiary (pension accounts)  

A reversionary beneficiary is a type of beneficiary nomination that applies only to pension accounts. 

If you nominate a reversionary beneficiary, your pension may automatically continue to be paid to that person after you pass away, subject to the rules of the fund and superannuation law. 

Important things to know:

• A reversionary beneficiary can only be nominated at the time a pension is set up. 
• Once a pension is established, a reversionary beneficiary cannot be added or changed to a different person, but it can be cancelled. 
• Reversionary nominations are not managed through the beneficiary nomination options described above. 

Because this type of nomination has long‑term implications, you should consider your circumstances carefully before setting up a pension with a reversionary beneficiary. 

You can nominate: 

• Your dependants (as defined under superannuation law), and/or 
• Your legal personal representative (the executor or administrator of your estate)

Who you choose will depend on your personal situation, and you can update your nomination if things change. 

There may be taxation implications¹ arising from having your super paid to a beneficiary. It is recommended that you seek professional advice before making a nomination.  

What is a dependant under superannuation law?

Under superannuation law, a dependant is someone who, at the time of your death, was: 

• Your spouse, including a de facto partner; 
• Your child, of any age; 
• A person in an interdependency relationship with you; or 
• A person who was financially dependent on you. 

Interdependency relationships

An interdependency relationship exists where two people (whether related or not): 

• have a close personal relationship; 
• live together; 
• provide financial support to one another; and 
• provide domestic support and personal care. 

An interdependency relationship may also exist where these requirements are not fully met because one or both people have a physical, intellectual or psychiatric disability. 

This category recognises close, supportive relationships that are not marriages, such as caring relationships between relatives or companions. 

To update a preferred (non‑binding) nomination online:

1. Log in to your member portal. 
2. Select 'More' from the top menu. 
3. Choose 'Beneficiaries'. 
4. Follow the prompts to add or update your nomination. 

To make or change a binding nomination:

1. Log in to your member portal. 
2. Select 'More' from the top menu. 
3. Choose 'Beneficiaries'. 
4. Download the Binding death benefit nomination form from the ‘Nominate binding beneficiaries’ section. 
5. Complete the form and submit it to us: 
   • Upload it via 'Send us an enquiry or document' in the ‘We’re here to help’ section of the portal, or
   • Post it to the address listed on the form.

It’s a good idea to review your beneficiary nomination if: 

• Your relationships or family situation change 
• Your financial responsibilities change 
• Your nomination is approaching its expiry date, or has expired (where applicable); or 
• It’s been a while since you last reviewed it 

Checking your nomination only takes a few minutes and helps ensure your super is paid as you intend. 

If you have insurance through your super, any insurance benefit is generally paid to your nominated beneficiaries. 

Keeping your beneficiary details up to date helps ensure both your super and any insurance benefits are paid in line with your wishes as long as the nominations are considered valid under superannuation law.