Who can you nominate?
You can nominate as many beneficiaries as you like, as long as each beneficiary falls into at least one of the following categories:
- Your spouse – a person who is married to you [vaild under the Marriage Amendment Act 2017 (CTH)], a person who lives with you on a genuine domestic basis in a relationship as a couple or a person (whether of the same sex or different sex) with whom you are in a relationship that is registered under a law of a State or Territory.
- Your children – including adopted, step or ex-nuptial, a child of your spouse and someone who is your child within the meaning of the Family Law Act 1975.
- Another dependant, defined as:
- A person who is wholly or partially financially dependent on you, or
- A person in an interdependent relationship with you
Two people will have an interdependency relationship if:
- they live together;
- they have a close personal relationship; and
- one or each of them provides the other with financial and domestic support and personal care.
Interdependency can also apply in the case where a close personal relationship exists but the other requirements for interdependency are not satisfied because either or both people suffer from a physical, intellectual or psychiatric disability.
- Your Legal Personal Representative – the executor of your will or administrator of your estate.
The most appropriate nomination will depend on your personal circumstances. As there may be taxation, Centrelink, asset protection and other implications to consider, we recommend that you seek professional legal, taxation and financial advice before making your nomination.
How does a non-binding nomination work?
This type of nomination is not binding on the Trustee, meaning the Trustee has the discretion to decide who will receive your Death benefit. On your death, the Trustee will consider your nomination but will take into account a range of other factors (such as the personal circumstances of your dependants) when making a decision about which one or more of your dependants or Legal Personal Representative, or other persons if no dependants or Legal Personal representative can be located, will receive your benefit. Your nomination applies to all of your accounts, except a pension account that has a Reversionary Beneficiary. It is important that you review your nomination regularly and consider updating your nomination whenever your personal circumstances change. You may change or cancel your nomination at any time.
How do you update your non-binding nomination?
If you want to make, replace or cancel a non-binding nomination, you must follow these procedures:
- Make or replace a nomination: If you want to make a non-binding nomination, you must write all your chosen beneficiaries’ details in the Beneficiary details section of this form and the Percentage of benefit column must total 100%. The form must be signed and dated. You may instead choose to make a Binding, Non-lapsing or, for an Income Stream account, a Reversionary Death Benefit nomination which will replace your Non-binding nomination. To make these types of nominations, please complete and return the relevant form, available on the Energy Super website.
- Cancel a nomination: If you want to cancel a current non-binding nomination and not replace it, you must write “cancel previous nomination” in the Beneficiary details section of the form. Please note that the form must still be signed and dated. You may also wish to inform your nominated beneficiary of your nomination. We will write to you to confirm your new, replacement or cancelled nomination. You will be advised of your nomination each time we send your Annual Statement so you can consider if it still reflects your wishes. Additional Non-binding Death Benefit Nomination Forms can be downloaded from the Energy Super website.
Is there a fee for making a nomination?
We do not charge a fee to process any type of death benefit nomination.
Do you want more information?
Before making, replacing or cancelling your nomination you should read the Product Disclosure Statement relevant to you and consider consulting your legal, taxation and financial advisers.
LGIAsuper Trustee (ABN 94 085 088 484) (AFSL 230511) (the Trustee) as trustee for LGIAsuper (ABN 23 053 121 564) (RSE R1000160) (the Fund).
Energy Super products are issued by the Trustee on behalf of the Fund.
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