Nominate who gets your super when you die

You can nominate your spouse as a reversionary beneficiary when you first open your Cbus Super Income Stream account. This means that when you die, your payments will revert to your spouse.

They must be a dependant legal or de facto spouse (including a partner of the same sex) at the date you start your income stream and at the date of your death.

Once it’s accepted, a reversionary beneficiary nomination is generally binding on the fund and is irrevocable. To change or remove your beneficiary at a later date you must start a new income stream then transfer your account balance into it.

At the time of a claim, your beneficiary can choose to continue the income stream or request a lump sum payment.

If you make a binding beneficiary nomination, Cbus is required to pay your nominated person/s, regardless of whether your circumstances have changed. This is on the proviso you’re still a member when you die and your nomination is valid at the time of your death.

Contrary to its name, a binding death benefit nomination only lasts three years before it lapses. If you decide to make a binding nomination, it's your responsibility to keep the nomination up to date.

In the instance you forget to renew a nomination, it will expire. Your nomination will also become invalid if your beneficiary is no longer a dependant at the time of your death or has predeceased you.

Cbus will confirm your nomination/s on your annual Super Income Stream Statement. You can confirm or change it at any time by completing a Binding death benefit nomination form, available from cbussuper.com.au/forms.

It’s important you have a reversionary or a legally valid binding nomination. If not, Cbus will distribute your benefit to your dependants and/or legal representative in the proportions and manner it determines, at its sole discretion.

Cbus has obligations under super and tax laws around how your super benefits are paid when you die. This includes considering any nomination of non-binding beneficiaries you may have made, and/or any will you may have in place. While we'll consider your nomination/s, we may pay someone else based on your circumstances and those of your dependants at the date of your death.

Unlike binding nominations, a nomination of a non-binding beneficiary does not need to be regularly confirmed unless your circumstances or preferences change.

If you don’t want to nominate a dependant as your beneficiary (binding or non-binding) you can nominate a legal personal representative. This refers to the executor of your will or administrator of your estate. The benefit will then be distributed in accordance with your will or the State intestacy laws if you do not have a will.