Nominate a beneficiary

Who gets your super in the event of your death?

Nominating a beneficiary helps TelstraSuper to determine who should receive your super benefit in the event of your death.

Kids Pool Feet in Water

There are three options for how you can decide who gets your super when you die:

  • Binding 
  • Non-binding 
  • Reversionary  beneficiary (RetireAccess members only).

Binding nomination

A valid binding death benefit nomination gives you certainty about who will receive your benefit if you die. TelstraSuper must pay your death benefit according to your wishes.

Binding nominations must be updated at least every three years. TelstraSuper will advise you in writing when your binding nomination is about to expire.

You can make a binding nomination only by:

  • completing the Nomination of Beneficiaries form, which needs to be witnessed by two adult witnesses.

Nominate a binding beneficiary

Non-binding nomination

A non-binding nomination will be taken into consideration by TelstraSuper as well as your personal circumstances, at the time of your death, but it’s not binding on the Trustee. This type of nomination can be made without needing to be witnessed.

Your non-binding nomination will endure throughout your membership of TelstraSuper, unless you elect to change it. However, TelstraSuper urges you to keep your non-binding nomination up-to-date to reflect, among other things, your current family circumstances.

You can complete a non-binding nomination by: 

Nominate a non-binding beneficiary online

Reversionary beneficiary nomination

(TelstraSuper RetireAccess members only)

A reversionary beneficiary nomination can only be made at the commencement of a TelstraSuper RetireAccess account. You may only nominate a single reversionary beneficiary who must be an eligible dependant at the date of your death.

If you nominate an eligible reversionary beneficiary, TelstraSuper is required by law to pay them the remaining balance of your TelstraSuper RetireAccess account as an income stream, in the event of your death. That is, your pension payments will continue to be paid to your nominated beneficiary.

If you have a Transition to Retirement (TTR) income stream you’ll need to have satisfied a relevant condition of release and have changed to a retirement income stream for your reversionary beneficiary nomination to be valid.

If you haven’t met a condition of release, you should consider adding a valid binding death benefit nomination to your account in addition to your current reversionary beneficiary nomination. This way, if something happens to you before you meet a condition of release, your binding nomination will ensure your death benefits will be paid according to your wishes.

Before making the decision to nominate, update or remove a reversionary beneficiary, you may want to consider seeking financial advice, as there may be Centrelink or Department of Veterans Affairs implications. 

As a TelstraSuper member, you can access financial planning advice through TelstraSuper Financial Planning.

  • Who you can nominate?

    You can nominate eligible dependants or your legal personal representative as a binding or non-binding beneficiary.  These include:

    • a spouse – including de facto and same-sex
    • children of any age – including adopted and step-children
    • interdependents – someone you live with and have a closer personal relationship with where one or both of you provide for the financial and domestic support and personal care of the other
    • other financial dependants – such as someone who relies on you financially
    • your legal personal representative – the executor of your estate as stated in your Will. Note a legal personal representative cannot be nominated as a reversionary beneficiary.
  • What if you don't have dependants?

    If you don't have any dependants and you wish the benefit to be paid to a non-dependant, you could:

    • nominate your legal personal representative, and
    • draw up a Will to show how your estate and your superannuation benefit should be distributed.
  • How to update a nomination

    You can complete a new Nomination of Beneficiaries form at any time to update your binding or non-binding nomination. The most recent nomination you make will override and automatically cancel your previous nomination.

    A reversionary beneficiary nomination is binding, therefore you would need to close your existing TelstraSuper RetireAccess account and open a new one if you want to update or remove an existing reversionary beneficiary nomination.

  • How to cancel a nomination

    If you wish to have the trustee determine who receives your benefit in the event of your death, you can remove your nomination altogether by completing the Nomination of Beneficiaries form. 

    A reversionary beneficiary nomination is binding, therefore you would need to close your existing TelstraSuper RetireAccess account and open a new one if you want to update or remove an existing reversionary beneficiary nomination.

  • Where to check your nominated beneficiaries

    It's important that you review your beneficiary details regularly, to make sure your nominations are up to date and reflect your current wishes. You can check your current nominated beneficiaries on:

  • What happens if my nomination lapses or is otherwise invalid
    If your nomination has lapsed at the date of death, is otherwise invalid or is incapable of being followed, the trustee will exercise its discretion and distribute any benefit payable to your dependents and/or legal  personal representative as it sees fit and in accordance with superannuation laws.
  • What is a relevant condition of release

    A relevant condition of release includes:

    • Permanent retirement form the workforce on or after your preservation age
    • Leaving employment with an employer who has made contributions to TelstraSuper for you after turning age 60, without necessarily retiring permanently
    • Reaching 65 years of age, whether you’ve retired or not
    • No longer working due to permanent incapacity
    • Having a terminal illness

Need help with your beneficiaries

At TelstraSuper we’re here to help you build a secure financial future. TelstraSuper Financial Planning has a team of phone based Advisers who can provide you with simple advice about your TelstraSuper account. If you’d like to discuss nominating beneficiaries contact us on 1300 033 166 or by filling in our online contact form.  

Online contact form

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