If you become disabled or terminally ill or in the event of your death, a benefit may be payable from your super.
Accumulate Plus
The balance of your account, including any preserved component of your super, may become payable if you meet the definition of permanent incapacity under super law. In addition, if you have insurance cover and your claim is accepted by the insurer, an additional lump sum insurance benefit (in the case of total and permanent disablement) or a monthly benefit (in the case of salary continuance for temporary disablement) may be payable. Tax may apply to any benefits that are paid to you in cash if you’re under 60.
Retirement Access
The balance of your account, including any preserved component, may become payable if you meet the definition of permanent incapacity under super law. Tax may apply to any super that is paid to you in cash if you’re under 60. NOTE: Insurance is not available for a Retirement Access account.
Defined Benefits
Depending on the rules for your division, a benefit may be payable if you meet the definition of disablement under the rules for your division– refer to the member booklet for your division for more details. Tax may apply to any super that is paid to you in cash if you’re under 60.
Accumulate Plus
The balance of your account, including any preserved component of your super, may become payable if you meet the definition of having a terminal medical condition under super law. In addition, if you have death insurance cover and your claim is accepted by the insurer, an additional lump sum insurance benefit may be payable.
Retirement Access
The balance of your account, including any preserved component, may become payable if you meet a definition of having a terminal medical condition under super law. NOTE: Insurance is not available for a Retirement Access account.
Defined Benefits
(Please contact us for more information)
Accumulate Plus
The death benefit is equal to the balance of your account (less any tax that may apply). In addition, if you have insurance cover, an insured benefit may also be payable.
Retirement Access
The death benefit is equal to the balance of your account (less any tax that may apply). NOTE: Insurance is not available for a Retirement Access account.
Defined Benefits
The way that a death benefit is calculated is different for each division – refer to the member booklet for your division for more details.
For most people, super will probably be one of the largest assets outside of a family home. A death benefit paid from your super fund does not automatically form part of your estate to be distributed under the instructions in your Will (if you have one). This makes it especially important to make your wishes known about who should receive your super if something happens to you.
If you’re an Accumulate Plus and/or Retirement Access member, you can make a non-lapsing death benefit nomination to ensure that a death benefit is paid in accordance with your wishes.
Note: If you’re a defined benefit member, in some cases the rules for your division may determine who receives a death benefit or you may be able to nominate a preferred beneficiary.
Read more about nominating a beneficiary.
