Superannuation Death Benefits
The payment of a deceased’s superannuation death benefits (whilst the member is in the accumulation phase of growing their super) is largely governed by the superannuation fund rules of which the deceased is a member. A member can direct payment of his super death benefits by making a binding or non binding death benefit nomination which nominates a person(s) who will receive the member’s death benefits. Such benefits can be directed to be paid to the member’s nominee or to the member’s executor.
Omitting or failing to make a death benefit nomination means that the trustee of the member’s super fund is placed in the position of decision maker as to how the member’s benefits will be paid.
