Death benefits
To ensure that your super benefit is distributed according to your wishes in the event of your death, it’s worthwhile checking whether your death benefit nomination is in order.
If you don’t nominate a beneficiary, Trustee discretion will apply. This means that the Trustee is responsible for the fair and reasonable distribution of your death benefit after seeking input from potential beneficiaries.
At the commencement of your VicSuper Pension, you may have made a reversionary, binding or non-binding death benefit nomination, or preferred your death benefit is paid according to Trustee discretion.
As binding death benefit nominations are only valid for a period of three years from the date signed, it’s important that you regularly reconfirm or update your nomination. If you have made a binding death benefit nomination, we’ll contact you before your nomination expires.
You can make or update your binding or non-binding death benefit nomination at any time. The relevant forms are available at VicSuper’s website. To receive general advice about death benefit nominations please speak to a VicSuper superannuation consultant by calling VicSuper’s Member Centre on toll free 1300 366 216.
However, if you have nominated a reversionary beneficiary, your nomination can only be changed or revoked in limited circumstances. As this is a complex area, VicSuper recommends that members seek professional advice. To book an appointment with a VicSuper superannuation adviser please call VicSuper’s Member Centre.
Anti-detriment payments
From 1 January 2009, VicSuper introduced anti-detriment payments in relation to VicSuper Pensions. An anti-detriment payment is additional amount included in a lump sum death benefit when paid to one or more eligible dependants. Payments generally relate to contribution tax which a member, who had a taxable component within their superannuation death benefit, paid during their working life.
An eligible dependant can be a spouse, including an opposite or same sex de facto spouse, ex-spouse or a child of any age. Anti-detriment payments only apply in certain circumstances.
This is also a complex area, so it’s best to seek professional advice. To meet with a VicSuper superannuation adviser, call VicSuper’s Member Centre on toll free 1300 366 216 or use VicSuper's online request.