Beneficiaries

Your super is more than just a pot of money for when you finish work. It also has the ability to create security for those you leave behind after you die, providing it goes to the right people. These people are your beneficiaries and it’s important to let us know who they are, in case the worst happens.

There’s a common misconception you can leave your super to anyone but, legally, your super is designed to be passed to your dependants. A dependant could be your spouse, children, financial dependant, or interdependant.

If you die without nominating a beneficiary, Qantas Super will distribute your money between your dependants and/or your estate, via your legal personal representative. Leaving clear instructions about who gets your super is one of the most important things to do and the good news is that it can be done at any time.

Watch this short video to learn more about the different types of beneficiaries:

You can also listen to our podcast episode about beneficiaries here.

You tell us the names of your chosen recipients and we are legally obligated to carry out your wishes. This type of nomination protects your loved ones, as it can help ensure the people you’ve nominated get your superannuation.

This option also makes life easier for those you leave behind – from a faster, simpler claims process, to avoiding messy family arguments and potential legal battles.

Your binding nomination needs to be updated every three years and we will send you a reminder when it’s time to renew.

If you want to leave your super to non-dependants like your parents, siblings, friends, relatives, or an organisation, it’s best to nominate a legal representative in a binding nomination. That gives them the ability to distribute you super according to your wishes.

You can make a binding nomination by filling out the form below.

A reversionary nomination is also legally binding, but instead of your beneficiary receiving a lump sum in the event of your death they will receive your regular income payments from your income account.

With a reversionary nomination, you can only nominate one person, and they must be either a:

• spouse: includes married, de facto, and same sex
• child who is dependent on you:
  • under the age of 18;
  • financially dependent and under the age of 25; or
  • qualify because of a disability

You can make a reversionary nomination by filling out the form below.

A non-binding nomination gives us a guide to who you’d like to receive your super, but it’s not legally binding. ­Qantas Super will take into account your nomination, and your personal circumstances, to make the final decision on how your super is distributed.

The advantage of a non-binding nomination is that Qantas Super will consider your situation if your circumstances have changed since you made your nomination.

You can make a non-binding nomination by logging into your account.

This is a case study based on claims Qantas Super has dealt with.

Includes married, de facto, and same sex.

Includes biological, step, adopted, ex-nuptial, or your spouse’s children. Payments to adult children may be subject to tax.

A person wholly or partially financially dependent on you.

A person who you live with in a close personal relationship where one or both provide financial support and domestic support, or personal care. Other circumstances may apply.

Protecting your loved ones and your legacy by leaving a binding nomination is easy and can prevent unfortunate and distressing issues within your family when the worst happens. Here’s the story of one family whose lengthy legal battle could have been avoided.

Filling out paperwork is painful but not nearly as painful as the three-year legal battle that erupted when Qantas Super member Effie died without confirming who was going to receive her benefits in the event of her death.

Effie was married in her 20s and had two sons. During her marriage she nominated her husband and sons as her binding beneficiaries. Clear, cut and dried, right?

Wrong. Later in life, Effie divorced and remarried. As her previous binding nomination agreement had lapsed, which it does every three years unless you renew, she died without leaving legal confirmation of who she wanted to receive her super.

After her death, Qantas Super reviewed her circumstances and her current husband was deemed the eligible recipient.  Why?  As her earlier nomination was made so long ago and her family situation had changed so much since then, Qantas Super did not give it much weight.  In situations where the deceased’s wishes are not known close to the time of death, it is common practice to award a spouse or financial dependant priority over anyone who is not financially dependent on the deceased.  Effie’s sons from her first marriage were adults, not living with her, and not financially dependent on her.

Understandably, her sons were unhappy with the outcome and mounted an exhaustive battle through the Australian Financial Complaints Authority. Unfortunately, they lost.

By not updating her details to legally name her beneficiaries in a binding nomination, Effie’s sons’ distress at losing their mother was compounded by the angst and cost of a legal case, and ultimately not receiving the legacy she had intended for them.

It’s simple to avoid these situations by clearly indicating who you want to receive your super through a binding nomination that is kept up to date, as it means we are legally bound to follow your wishes.

Simply download the form, and make sure you and your witnesses sign it on the same day. Then mail it to Qantas Super and ensure protection for your loved ones, emotionally and financially.