on 22 June 2013
Following the death of a member of a super fund the trustee is responsible for administering the members balance by way of payout to beneficiaries or by allocating to a reversionary pension.
To remove this uncertainty we recommend that members consider a Binding Death Benefit Nomination.
Many of our funds have non-binding nominations in place that can be used by the trustee as a guide when distributing death benefits. The problem is that ultimately with a non-binding nominatio...