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 spouse (including de facto or 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 death benefit 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 death benefit 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 death benefit nomination is valid at the time of your death.

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

In the instance you forget to renew a death benefit nomination, it will expire. Your death benefit nomination will also become invalid if your beneficiary is no longer a dependant at the time of your death or has predeceased you. We encourage you to set a reminder and renew your nomination every three years.

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.

You can make a non-binding nomination to tell us who you’d prefer your super and any insurance benefits be paid to.

These nominations aren’t legally binding but we’ll consider who you’ve nominated. The final decision on who to pay your super and any insurance benefits to will be made by Cbus Super in accordance with Fund rules and superannuation law.

Because we’ll need to look into all potential dependants, a non-binding nomination may mean it will take longer to pay out your super than if you make a binding nomination, which could be more stressful for your loved ones.

You can make (or update) a non-binding death benefit nomination by logging into your member account online.

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 if you don’t have a will. The benefit will then be distributed in accordance with your will or the State intestacy laws if you do not have a will.