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Depending on the fund you are in, you may have the option to nominate beneficiaries for payment of your benefit in the event of your death. Your beneficiaries can be changed at any time. And it’s important you nominate who they are.
Generally, there are two types of death nominations:
A non binding beneficiary nomination means that you have chosen to notify us in writing of your preference for the distribution of your death benefit although this nomination is not binding on the Board. Although this nomination is not binding, it will be an important consideration when the Board determines who should receive your death benefit and in what proportion.
A binding nomination enables you to elect who you wish to receive your benefit on your death and if your nomination remains valid, the Board is bound to act according to your instructions and cannot vary it. Binding nominations have a fixed term of three years and override any nominations you have previously made. Please note that you can amend or cancel a binding nomination at any time.
You will find the forms relevant for your fund available through 'Your next steps' to the right of the screen. These forms will also offer you more information on how each nomination works.
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