Making a binding death nomination
Triple S members and Flexible Rollover Product and Income Stream investors can now nominate for their death benefit to be paid to their nominated Legal Personal Representative (LPR) (ie estate), allowing them more flexibility on how their death benefit will be distributed.
LPR - death benefit paid to estate
By nominating their legal personal representative, the death benefit will be paid to their estate rather than their spouse and distributed according to their Will, or if they do not have one, the Statutes. Members will need to ensure that their Will reflects their wishes as to the distribution of their death benefit from their estate. Members are strongly encouraged to obtain estate planning advice before acting.
A LPR nomination is a binding death nomination, valid for three years. Where no binding death nomination is made the death benefit will continue to be paid to the spouse (including putative spouse) and if there is no spouse, to the estate.
Form and fact sheet
Triple S members, Flexible Rollover Product investors and Super SA Income Stream investors: