LegalAustralia
Binding Death Benefit Nomination
A binding death benefit nomination is the formal instruction to your Australian superannuation fund about who receives your super when you die. 'Binding' means the fund must follow your instruction. Critical issue: most binding nominations lapse every three years. An expired nomination means the trustee has discretion — not you.
In short
A binding death benefit nomination tells your Australian super fund who gets your money — but it lapses every three years. Check yours annually.
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