CHILD INCOME ACCOUNT
Protect your child’s financial future with a BUSSQ Child Income account.
BUSSQ is one of only a few super funds that provides a Child Income account product, which in the event of your death, allows your dependant children to be paid the balance of your super account.
In the event of your death, the Child Income account will be opened, and regular payments to your child or children will then begin based on the options you choose.
Payments will continue until the money in the account runs out, or the child turns 18 when they must have the balance of their Child Income account paid to them as a cash lump sum, unless continuing to live with the primary carer and studying full time until they reach age 25.
The benefits of a BUSSQ Child Income account:
- Pays a regular income to your child’s primary carer to help with your child’s living expenses.
- Does not impact government assistance or support available to your child’s primary carer.
- Boosts the account balance with BUSSQ’s Headstart Bonus payment.
If you would like to choose a Child income account as your beneficiary you can complete our Binding death benefit nomination to a child income account form and a Child Income account join form for each child detailed on your Binding Death Benefit Nomination to Child Income Account form.
Our team are also available to help you with any queries you have about our Child Income account. Call us on 1800 856 722 to speak to a BUSSQ member representative or complete the form below and we will be in touch.