Binding nominations
A binding nomination means we must pay your benefit (account balance and any insurance benefits) to the beneficiaries in the portions you set out in the form. Some restrictions apply and we can only pay your super benefits to your nominated beneficiaries if your nomination is valid.
Your nomination can be ‘lapsing’, which means you have to update it every three years. If it’s ‘non-lapsing’, it will stay valid until you change or revoke it, or it becomes invalid for another reason.
You'll need two witnesses who are not mentioned in the form and are aged 18 or older to sign the form on the same date.
Make a binding nomination
Complete the Binding death benefit nomination form (PDF, 491 KB) at the back of the fact sheet and return it to us.
Non-binding nominations
A non-binding beneficiary is the person or people you would prefer your benefit to be paid to if you die.
Remember:
- This nomination is not binding to the trustee. The trustee will decide who receives your account balance and any insurance benefit, taking into consideration your nomination, circumstances (e.g. if you have any dependants) and relevant laws at the time of your death.
- A non-binding nomination won’t expire unless you change or revoke it.
Make a non-binding nomination
Log in to your account to choose or change your non-binding beneficiaries.
Reversionary beneficiary nomination
If you’re a Flexi Pension member and you’d like your benefit to be paid to an eligible dependant as a pension, rather than a lump sum, you can make a reversionary beneficiary nomination.# This provides both you and your reversionary beneficiary with the certainty of an ongoing income stream.
Different rules apply to Defined Benefit Indexed and Commercial Rate Indexed pensions. Read more about pensions and who you can nominate as a beneficiary.
Make a reversionary nomination
Complete the Reversionary beneficiary form (PDF, 175 KB) to nominate a reversionary beneficiary.
Who can I nominate
Your beneficiary can be:
- your spouse (including de facto or same-sex)
- a child of any age (including adopted children)
- someone in an interdependency relationship with you
- a financial dependent
- your legal personal representative (the executor or administrator of your estate).
If you decide to nominate your legal personal representative, then your super or pension benefit will form part of your estate and be distributed according to your will or the intestacy laws of your state or territory if you don't have a will .
Different rules apply to reversionary beneficiary nominations.^
What happens if I don't nominate anyone?
If you don't make a beneficiary nomination, we (the UniSuper Trustee) will decide who receives your benefit. This could be one or more of your dependants and/or your legal personal representative, i.e. your estate.
Things to consider
- You can change your nomination at any time by making a new nomination, provided you have the capacity to do so.
- You need to make sure you keep your nominations up to date if your circumstances change.
- There could be tax implications for any beneficiaries you nominate. Speak to one of our financial advisers at UniSuper Advice about your plans.
- We won’t accept a nomination made under a power of attorney.
- Different rules apply to Defined Benefit Indexed and Commercial Rate Indexed pensions. Read more about pensions and who you can nominate as a beneficiary.
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Things you need to know
#A reversionary beneficiary nomination can’t be made by Term Allocated Pension members. It is also not an option for those with a BIS Flexi Pension.
^ Unlike a ‘binding’ or ‘non-binding’ nomination, you can only nominate one beneficiary for a ‘reversionary beneficiary’ nomination. Nomination of your legal personal representative is not an option when nominating a reversionary beneficiary. In the case of a reversionary beneficiary nomination, there are restrictions when it comes to a child. For instance, the child must be under 18 unless they are financially dependent and aged between 18 and 25, or disabled.