NOMINATE A BINDING BENEFICIARY
Nominating a binding beneficiary is important
You’ve worked hard to build up your super, so it’s important to nominate who you wish to receive this benefit in the unfortunate event of your death. You can do this by making a ‘beneficiary nomination’, which lets us know who you want your super and any insurance benefit, known as your death benefit, to go to. Otherwise, it can be up to the Trustee of the Fund (the people who manage your super fund) to decide for you.
What is a beneficiary?
It's simply a person or the people you want to nominate to receive your death benefit when you die.
How to nominate who gets your super?
You can nominate your beneficiary by making either a non-binding nomination or a binding nomination.
A non-binding nomination is when your wishes about who should receive your death benefit when you die are a guide only and are not binding on the Trustee.
A binding nomination however means the Trustee is bound by the nomination(s) you make when paying your death benefit, as long as your nomination is valid.
How to make a binding nomination?
To make a binding nomination, you must complete and sign a Binding Death Nomination form in the presence of two witnesses. The completed form needs to be returned by mail to BUSSQ.
When filling in the form, it's important to:
Make no mistakes – crossed out information of changes can be disputed. If you make a mistake, please start a new form.
Have valid witnesses – your witnesses must be 18 years or older and not be the beneficiary. The witnesses must witness and sign on the same date as you.
Use whole percentages – nominated amounts must be in whole percentages only and total 100%. For example, if you have three children you can not distribute 33.3% to each child.
Request your binding nomination form
Submit the pre-filled form below if you would like a Binding Death Nomination form posted out for you to complete. If your details aren't right, you can update them here so we send it to the right address.
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