If you do not nominate a beneficiary, Intrust Super will need to decide how to distribute your benefit, in accordance with superannuation and trust law. We’ll investigate if you have any dependants and make a decision based on who we determine has the greatest needs.
If you would like greater certainty about the distribution of your super benefit, you should nominate a beneficiary.
Nominating a beneficiary
Your nominated beneficiary must be a legal personal representative or a dependant.
A dependant includes:
- your spouse (husband, wife or anyone you live with in a genuine domestic relationship)
- your child, adopted child or stepchild
- someone who is financially dependent on you OR
- any person you have an interdependency relationship
For an ‘interdependency relationship’ to exist between you and another person, you must:
- live with them
- have a close personal relationship with them
- provide financial or domestic support to them AND
- receive financial or domestic support from them.
There are two ways to nominate a beneficiary:
- a non-binding nomination
- a binding nomination.
A non-binding nomination acts as a guide only, as Intrust Super is bound by superannuation and trust law when making a decision about your super benefit. We’ll consider your nomination, but there’s a chance your super and any insurance benefit could go to someone other than your preferred nominee/s.
For example, in line with our legal obligations, the Trustee could determine that you have dependants with a greater need than those you’ve nominated.
A non-binding nomination doesn’t expire, so if you change your mind for any reason, you’ll need to change your nomination.
How to make a non-binding nomination:
- Log in to MemberAccess.
- Navigate to the ‘Beneficiaries’ page under the Member tab.
- Click ‘Add new beneficiary’ and fill in the details of your beneficiaries. Make sure to include how much of your benefit you wish to give each (ie 50%, 100%). Remember that the numbers must add up to 100%.
- Click submit.
A binding nomination ensures we pay your benefit to the beneficiaries nominated by you (as long as the beneficiaries you have nominated are considered dependants under superannuation rules).
To make a binding nomination, you will need to complete a Binding death benefit notice to Trustee form will need to be completed. Please note that this nomination is only valid for three years from the date you sign and date the form. You will need to submit a new binding notice once this notice has expired to keep your nomination valid.
How to make a binding nomination:
- Download or print the Binding Death Benefit Notice to Trustee
- Complete your details, and your beneficiary’s details.
- Sign and date the form in the presence of two witnesses.
- Send the completed form to:
GPO Box 1416
Brisbane QLD 4001
At your service
If you need assistance, we’re here to help. You can call our financial planning team, Intrust360°,
on 1300 001 360.