Your will may not decide where your super goes: About 15.7 million Australians are estimated to lack a binding death-benefit nomination
- Super Consumers Australia research has found that many Australians either don’t have a binding nomination or may have been inadequately informed about making one.
- Millions of Australians may believe their superannuation will automatically go to the people they name in their will when they die.
- A recent news report by ABC Information & Services News suggests that around 15.7 million Australians may not have a legally binding death-benefit nomination, which would give super funds a fair amount of discretion over who gets the money.
Unverified
- Super Consumers Australia research has found that many Australians either don’t have a binding nomination or may have been inadequately informed about making one.
- Millions of Australians may believe their superannuation will automatically go to the people they name in their will when they die.
- A recent news report by ABC Information & Services News suggests that around 15.7 million Australians may not have a legally binding death-benefit nomination, which would give super funds a fair amount of discretion over who gets the money.
Sources: Times of India