Where does the super fund goes to when one is dead?

October 28, 2008 2:22 AM

(In australia) Where does the superannuation fund goes to if one dies?

Where does the super fund goes to when one dies?
I'm a student that is currently studying for my exam tomorrow and wish to know the answer for the above question. According to my knowledge in estate planning, the superannuation funds is regarded as a non-estate asset and could not be included in the will of the person.

Thus, if one dies does the funds in the superannuation will be allocated using the state's formula of a person who dies intestate or something else?

Thanks

posted by red_rika to Education (1 answer total)

Best answer: My understanding is that superannuation can't be 'willed' directly to somebody.

technically, it is up to the fund's trustee to decide who can receive it.

But you can overrule the trustee by making a Binding Death Benefit Nomination where you can explicitly overrule the trustee's discretion in the event of your death

Have a look here.
posted by TheOtherGuy at 2:43 AM on October 28, 2008