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Have you made a Binding Nomination with your Superannuation Fund?

Check your last superannuation statement to see if you have made a nomination as to who is going to benefit from your superannuation entitlements after you die.

There are 2 types of nominations one may make: A binding nomination and a non-binding nomination.


What is a Non-Binding Nomination?

A non-binding nomination may be made online and does not expire. However, the trustee of your superannuation fund is not bound to distribute your superannuation to your nominated beneficiary upon your death. The trustee may take your nomination into account, however, if it determines that you have dependants who need the funds and who are not your nominated beneficiaries, it has the power and discretion to allocate some or all of the funds to those dependants.

What is a Binding Nomination?

A binding nomination binds the Trustee of the superannuation fund to distribute your superannuation, upon death, to your nominated beneficiaries.

A binding nomination must be made in the form of a Statutory Declaration.

Binding nominations generally expire every 3 years – some superannuation funds allow for “non-lapsing binding nominations” which do not expire.

Alternatively, you may give your Attorney [in your Enduring Power of Attorney], the power to make a binding nomination on your behalf.

If you and your spouse/partner have separated, you may wish to change your nominated beneficiaries from your spouse/partner to your children.

You should speak to your superannuation fund about these options or alternatively contact us to find out more.


This article provides information that is general in nature and is not a substitute for legal advice.