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Choose your beneficiaries

Your super doesn’t automatically form part of your estate when you pass away – different laws apply.
If you want your super and insurance benefits to be distributed the way you want, you need to let us know. This is called nominating a beneficiary.

This video explains how it works:

Who can be nominated as a beneficiary?

You can nominate dependants to receive your super and insurance payments if you die. The four types of eligible dependants are explained below. You can select one person, or several people who meet these definitions, and assign a percentage of the payment you want them to receive.

Spouse/Partner

Includes married and de facto (same or different sex) relationships.

Children

Your children of any age (including steps, adopted, ex-nuptial or children of your spouse).

Interdependent

Someone who lives with you on a long-term or permanent basis, where one or both of you provide financial and domestic support, and personal care of the other.

Financial Dependant

Someone who relies on you (totally or partially) for financial assistance or support. For example, you pay the bills, rent, etc.

What if I want my super to go to someone else?

If you want your super to go to someone who can’t be nominated as a beneficiary, such as a sibling or friend, you can nominate a Legal Personal Representative to receive your death benefit and distribute it. This is the executor of your Will, or the person responsible for administering your estate if you do not have a Will. This gives you more options for who gets your super.

How to include super in your Will

If you want your super to be distributed as part of your Will, then it’s important to make a Binding Nomination to your Legal Personal Representative. On the form, you would put Legal Personal Representative as the beneficiary.

Your options for beneficiary nominations

Non-binding	Lapsing Binding	Non-Lapsing Binding
A preferred recipient for your super and any life insurance payable, when you pass away.	This is a legally binding request your super fund must follow, provided it is valid. The nominated person/s will receive any remaining super and any life insurance payable, when you die.	This has one important difference to a Lapsing Binding nomination. A valid Non-Lapsing Binding request won’t expire unless you amend or cancel it.
Considerations
Easy to change Doesn’t expire May forget to update if you change your mind about your beneficiary Acts as a guide for your super fund, but it can be broken if it doesn’t meet super/tax laws or is contested by family	Provides certainty so you know who will get your super Easy to set up – just fill out our form and have it signed by two witnesses Expires every three years We’ll remind you to update it	Permanent (unless you change it), so you only have to set it up once It doesn’t expire, so if your circumstances change and you don’t update us, your super may not go to your preferred beneficiary It’s convenient and easy to make your nomination online
How do I make a nomination?
Update your nominations in firstonline or complete the Nomination of Beneficiary form	Complete the Nomination of Beneficiary form. Two witnesses must sign the form.	Update your nominations in firstonline or complete the Nomination of Beneficiary form. Two witnesses must sign the form.

Make sure you review your Binding Nomination regularly

If you have made a binding beneficiary nomination, it’s important to review this when your circumstances change.

Some common scenarios where your beneficiary nomination may need to be reviewed and changed include:

if you separate from your partner
if you remarry
the birth or death of a child
if there are changes to those who are financially dependent on you
if there are changes to people with whom you have an interdependent relationship, for example you start caring for someone with a physical or intellectual disability.

Special rules for making a Lapsing Binding Nomination

a Nomination of Beneficiary form must be signed by two witnesses who are at least 18 years old and are not named as beneficiaries
the form is invalid if not received by First Super before your death
your Binding Nomination will cease to have effect if you subsequently marry, remarry or divorce. You can amend or revoke a Lapsing Binding Nomination at any time by sending us a new Beneficiary Nomination form
if a person you have nominated dies before you or is not eligible to receive a share of your Death benefit, that person’s part will be distributed equally among the surviving nominated dependants and/or Legal Personal Representative
if you do not provide all details requested in this form or if it is not properly witnessed, then First Super considers it a Non-Binding Nomination. We will contact you to advise you of this
if you fail to properly and clearly specify the percentage (%) of your benefit payable to each person, we will send the form back to you to complete correctly so that the percentages add up to 100%

Special rules for making a Non-Lapsing Binding Nomination

the easiest way to make your Non-Lapsing Binding Nomination is through firstonline. If you have not registered for firstonline, you must do this first.
you can also make your Non-Lapsing Binding Nomination by filling out the Nomination of Beneficiary form.
your Non-Lapsing Binding Nomination will cease to have effect if you subsequently divorce or your spouse dies. You can amend or cancel a Non-Lapsing Binding Nomination at any time by updating this in firstonline or sending us a new Nomination of Beneficiary form.
if a person you have nominated dies before you or is not eligible to receive a share of your Death benefit, that person’s part will be distributed equally among the surviving nominated dependants and/or Legal Personal Representative.
if you do not provide all details requested in this form or if it is not properly witnessed, then First Super considers it a Non-Binding Nomination. We will contact you to advise you of this.
if you fail to properly and clearly specify the percentage (%) of your benefit payable to each person, we will send the form back to you to complete correctly so that the percentages add up to 100%.

Tax on payments to beneficiaries (Binding and Non-Binding)

If the person receiving your death benefit is a spouse, financial dependant or children under 18, a lump sum death benefit will be tax free.

If the person receiving your death benefit is an adult child who is not financially dependent on you, they will be taxed:

15% plus Medicare levy on taxed elements
30% tax plus Medicare levy on untaxed elements

Payments to an estate or Legal Personal Representative will be paid as a pre-tax lump sum and the estate will be responsible for tax treatment of the death benefit.

Seek financial advice

As part of your membership, if you’d like to speak with someone nominating beneficiaries, our Advice team can step you through your options at no additional cost. Request an appointment online or call 1300 360 988 to arrange a consultation today.