Who can you nominate as a reversionary beneficiary?

Who can you nominate as a reversionary beneficiary?

Reversionary nominations You can only nominate one person as a reversionary beneficiary. Only spouses, certain children and dependants are eligible, and there’s no opportunity to pay any other beneficiary. A child can be a reversionary beneficiary if they are: under the age of 18.

Who is a reversionary beneficiary?

Reversionary beneficiary – the nominated person (generally a spouse) will automatically continue receiving the pension after your death. Binding death benefit nomination – gives you certainty that your superannuation benefit will be paid to the beneficiary you nominate – there is no trustee discretion.

Should I nominate a reversionary beneficiary?

Advantages. Payment certainty – Nominating a reversionary pensioner gives you a level of certainty that the person you want to receive your super benefit will get it when you die, as it’s not up to the super fund’s trustee to decide on the beneficiary.

Can a reversionary beneficiary be changed?

You may want to consider changing your nomination if your circumstances change, so that your benefit will be paid in line with your current wishes. You can only nominate one person to be the reversionary beneficiary of a pension. You can cancel your nomination of a reversionary beneficiary at any time.

What happens if a reversionary beneficiary dies?

If the reversionary beneficiary dies prior to the original pension owner passing away, the pension will automatically become a non-reversionary pension. Given that the pension will now be non-reversionary, you should consider providing the trustee of the super fund with a death benefit nomination.

How can I become a member of QSuper?

Register for Member Online and keep track of your super, download your statements, manage your investments, insurance and more. Register now

How to nominate a reduced salary for QSuper?

If you have an Accumulation account and want to nominate a reduced salary for super purposes, you should read this factsheet and complete the attached form. We’ve made it easy for you to make a surcharge debt payment. Just fill out this form and we’ll take care of the rest. Use this form to make a tax file number declaration to QSuper.

How to choose QSuper as your super fund?

Give this completed Choose QSuper as Your Super Fund form to your new employer and they will make your super contributions to your QSuper account. If you’re entering into a Family Law super agreement, you can use this form to request info about a member’s account.

Can a Downsizer contribution be made to a QSuper account?

Make a downsizer contribution to your QSuper account by BPAY®, cheque, or money order. Apply to access your super early due to severe financial hardship. Your employer needs to let us know your salary and contribution details after you leave or change employment type.

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