It’s not a fun topic to consider… but it’s important. Your super doesn’t automatically form part of your estate, so your will alone won’t determine who receives it. If you haven’t made a valid death benefit nomination with your super fund, that decision could be made by the super fund trustee.  

Your options 

When you open a super account, you can nominate who will receive your money when you die. Your beneficiary nomination options include: 

1. Non-lapsing binding death benefit nomination: your super fund must pay your super to the person(s) you choose, if your nomination is valid. This nomination generally doesn’t expire and stays in place until you change or cancel it. This is a new feature that all HESTA members can access and gives you certainty over who gets your super, so once it’s in place you generally don’t need to renew it.   

1. Binding nomination: your super fund must pay your super to the person(s) you choose, if your nomination is valid. Remember this type of nomination expires every three years – so it’s important you keep it up to date. 

1. No nomination: your super fund decides who receives your super. 

Who can you nominate? 

Super funds can only pay death benefits to your dependents. This includes your spouse (married or de facto), your children, anyone financially dependent on you or with whom you have an interdependent relationship, or to your legal personal representative (usually the executor of your will or the administrator of your estate).  

Take a few minutes to check 

Over time, relationships and family circumstances often change. A death benefit nomination made when you first joined your super fund may no longer reflect your wishes today. Take a moment to check yours and make sure your super goes to the people that matter most. Visit hesta.com.au/beneficiaries for more information. 

Issued by H.E.S.T. Australia Ltd ABN 66 006 818 695 AFSL No. 235249, the Trustee of HESTA ABN 64 971 749 321.  

This information is of a general nature. It does not take into account your objectives, financial situation or specific needs so you should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this. For more information, free call 1800 813 327 or visit hesta.com.au/pds for a copy of a Product Disclosure Statement which should be considered when making a decision about HESTA products and consider any relevant risks (hesta.com.au/understandingrisk). The target market determination for HESTA products can be found at hesta.com.au/tmd.