Binding death benefit form unisuper

Benefits of UniSuper. As one of Australia’s largest super funds UniSuper offers a range of benefits. You can stay with UniSuper when you change jobs, even if you leave the higher education sector.

UniSuper is on your campus to help you with information and general advice about your membership and our range. You decide who receives your super and any insurance benefits and in what portions (some restrictions apply and your nomination must be valid). Can be lapsing, which means you have to update it every three years, or non-lapsing, which means it will stay valid until you change or revoke it, or becomes invalid for another reason.

Requires two witnesses to sign on the same date. See full list on unisuper. This nomination won’t expire unless you change or revoke it. If you decide to nominate your legal personal representative, then your super forms part of your estate and will be distributed according to your Will.

Your beneficiaries can be: 1. You can change your nomination at any time by making a new nomination. You need to make sure you keep your nominations up to date if your personal circumstances change. The tax implications for any beneficiaries you nominate (which you might need to speak to an adviser about).

We won’t accept a nomination made under a power of attorney. If you need to make sense of the kinds of nominations and what best suits you, our UniSuper Advice team can help you make sure there aren’t any unintended consequences for you or those you leave behind. What are the types of binding death benefit nominations? Can I make a binding death benefit nomination?

Can a reversionary receive a binding death benefit? How do I cancel binding death benefit? A valid binding death benefit nomination (lapsing) remains in effect for three years from the date it’s first signe last amended or confirmed.

Binding death benefit nomination form. Tax file number collection form available at unisuper. SECTION — Non- binding beneficiary nomination A non- binding beneficiary nomination allows you to nominate who you’d prefer your benefit be paid to in the event of your death. The member signed and dated this binding death benefit nomination form in my presence. I am over years of age.

If you’ve made a binding death benefit nomination for your other UniSuper accounts, it won’t apply to your Flexi Pension account once you choose the reversionary option for your Flexi Pension account(s). The binding death benefit nomination will be removed from your account. You can control who can share in your death benefit by making a valid binding death benefit nomination.

A binding nomination doesn’t have to be forever. We offer lapsing and non-lapsing binding death. If you wish to revoke an existing binding death benefit nomination and not make a further nomination you need only complete Steps and of this form , leaving Step blank. At UniSuper you have the option of making a binding death benefit nomination or a non- binding beneficiary nomination.

If you want more certainty about who you would like to receive your super, you can consider making a valid binding death benefit nomination. For more information on the binding death benefit nomination, we recommend that you read the article by Denis Barlin from SBN lawyers about binding death benefit nominations by clicking on the link. A sample binding death benefit nomination (non-lapsing) To give you a good idea of what one of these documents look like, we provide a sample BDBN. The best way to ensure that your super and any insurance benefits are paid to who you intend is to nominate a binding beneficiary. Plus having a valid binding nomination reduces claim processing time.

This form replaces any previous binding death benefit nomination form received by QSuper. Signature Please hand write your signature using a blue or black pen. We do not accept any type of digital signatures. Under most SMSF deeds, payment of a death benefit is left to the trustee’s discretion in the absence of some form of binding direction, such as a BDBN or an automatically reversionary pension. Accordingly, a BDBN can play a crucial role if a member would like certainty as to who gets their super proceeds on their death.

If your death benefit is non- binding then your trustee is not required to follow the instructions you lay out – either in the death benefit or your will. In order for a binding death benefit nomination to be vali this form must be signed in the presence of two witnesses. These witnesses must be over age and not be named as a beneficiary on this form.