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Find out what happens to someone's super when they die
It's important for you to tell us who you want to receive your super when you die - your beneficiaries - because your super is not automatically included in your Will.
This can give you peace of mind that your loved ones can have more financial security after you're gone.
When you die, your beneficiaries can claim your death benefit. This is your account balance which may include any death cover (life insurance) you may have had through your account.
A binding death benefit nomination lets you decide who will receive your super (which includes any insurance you have) in the event of your death.
You can choose one or more of your dependants, or your legal personal representative. Your nomination will be valid for three years and your annual statement or Member Online account will show whether you currently have a valid nomination in place.
Find out more about who you can choose to receive your super or read the Binding Death Benefit Nomination fact sheet and form (pdf).
Nominate who gets your super
A reversionary beneficiary is someone who will receive the money in your Income account if you pass away. You can choose one dependant to continue to receive regular income payments from your account.
Your reversionary beneficiary nomination will be taken into account over any binding death benefit nomination you have in place.
Find out more about who you can choose to receive your super or nominate a reversionary beneficiary by logging into Member Online.
Nominate a reversionary beneficiary
If you don't choose who will receive your super, or your nomination is invalid or out-of-date, in most cases your benefit is paid to your dependants if you have any, or your legal personal representative (e.g. the executor of your Will).
One main disadvantage of not choosing who gets your super ahead of time is that it may take us longer to find out who will receive your benefit and how to pay them.
A financial adviser can help you make a nomination. Find out more.
When we pay your super to your chosen beneficiaries, it will include any death cover you may have had through your Accumulation account. If you have a Defined Benefit account and are under age 55, your beneficiaries will be paid your projected benefit to age 55.
You can check whether you currently have death cover in Member Online.
If you are diagnosed with a terminal illness, you may be able to access your account balance including any insurance you have.
To make a claim, send us a completed Terminal Medical Condition Claim form (found at the back of the Claiming a Terminal Medical Condition Benefit factsheet (pdf)).
If you've chosen the spouse protection option for your Lifetime Pension, your spouse will continue to receive regular tax-free income payments for life after your death.
If you die before receiving income payments equal to the original purchase price, then our money-back protection means a death benefit may be payable to your estate or beneficiaries (subject to the government’s capital access schedule).
Because the spouse option on your Lifetime Pension takes priority over your binding death benefit nomination and you can't change this choice after your purchase, it's important to consider your choices carefully.
Find out more
It may take us longer to find your beneficiaries if we don't have their most recent contact details.
So let them know you’ve nominated them. This makes sure they can claim your death benefit as quickly as possible.
If you have lost a loved one, we understand this may be a difficult time, so we aim to make the process of claiming their super as simple as possible.
When someone leaves you their death benefit when they die, this means we pay you their superannuation account balance, which may include any death cover (life insurance) they had through their account.
If your spouse has passed and they had the spouse protection option on a Lifetime Pension, you will continue to receive regular tax-free income payments for the rest of your life.
There are a few ways you can access a death benefit if you are eligible:
Each of these options has different benefits and disadvantages, and the amount will be taxed differently depending on which you choose. A financial adviser can help you decide which option might be best for your circumstances.
We aim to make the process as simple as possible. To make a claim:
For more information about how to make a death benefit claim, read our Death Benefit Claim Guide (pdf).
If you'd like any help with nominating who gets your super or making a death benefit claim, please get in touch.