Your beneficiary options
There are a few options when deciding what happens to your money in the event of your death.
Binding nominationYou provide formal written direction to AustralianSuper to tell us who you want your account balance paid to, so that it’s legally binding. A binding nomination comes into effect from the date we accept it, and expires three years from the date you sign the form.
You can set up or change your binding nomination by completing a valid Binding death benefit nomination form.
You nominate who you’d prefer your account to be paid. However, your nomination is not legally binding and although we’ll consider who you choose, ultimately we are legally responsible and will need to consider relevant laws when making a decision.
You can make a non-binding nomination through your online account at any time, or by calling us on 1300 300 273 8am to 8pm AEST/AEDT weekdays.
Reversionary nomination for retirement accounts
If you nominate a reversionary beneficiary, this person will receive regular income payments from your account until the balance reaches $0.
You can only nominate one dependant as your reversionary beneficiary at the time you open your account. You’ll need to close your pension and commence a new one if you want to change your reversionary beneficiary. If you nominate a child over 18 years old, they must be:
- permanently disabled, or
- younger than 25 and financially dependent on you immediately before your death