In the event of your death, your super or pension can be paid as a single payment to a dependant or your Legal Personal Representative (LPR), who is the executor or administrator of your estate.
Dependants include:
- your spouse or de facto partner
- your children (including adopted and stepchildren)
- someone you are in an interdependent relationship with, or
- someone who is financially dependent on you.
Alternatively, your super or pension can be paid as a pension to a dependant. However, most adult children and your LPR are not allowed to receive your super as a pension in the event of your death.
If your nominated dependant is a child, they are only eligible to receive your superannuation as a pension if, at the time of your death they are:
- Under the age of 18; or
- 18 or over and they are also:
- under 25 and financially dependent on you; or
- permanently disabled (specific criteria apply).
In all other cases a child may only receive your superannuation as a single payment upon your death. If this is the case, you cannot nominate them as a reversionary beneficiary.
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Things you should know
Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557 and issuer of FirstChoice range of super and pension products. Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the responsible entity and issuer of products made available under FirstChoice Investments and FirstChoice Wholesale Investments.
Information on this webpage is provided by AIL and CFSIL. It may include general advice but does not consider your individual objectives, financial situation, needs or tax circumstances. You can find the target market determinations (TMD) for our financial products at https://www.cfs.com.au/tmd which include a description of who a financial product might suit. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at www.cfs.com.au or by calling us on 13 13 36.