If you die while you are a member of AUSfund, the Fund Trustee is legally required to pay your death benefit to the person/people it identifies as being your ‘dependants’ at the time of your death, or to the legal personal representative appointed to administer your estate.
If you complete the non-binding nomination, you can advise the Trustee how you would like your death benefit paid from your account. However, it is important to note that the Trustee is not bound to adopt your nomination.
Who can you nominate?
You can nominate anyone who is a ‘dependant’ according to superannuation legislation. This includes:
your spouse (including a de facto spouse, former spouse or same sex partner);
your children (including adopted, step or ex-nuptial);
a person with whom you have an ‘interdependency’ relationship. Two people may have a relationship of ‘interdependency’ if:
they have a close personal relationship;
they live together;
one or each of them provides the other with financial support; or
one or each of them provides the other with domestic support and personal care.
a person who is wholly or partially financially dependent on you at the date of your death.
You can also nominate your legal personal representative, usually the executor of your will.
Nominate your beneficiary/s by
logging in to Member Online and easily updating your member beneficiaries details, or