Nomination of Beneficiaries

When you join ACSuper you are asked to nominate the dependant(s) you would like the money paid to in the event of your death. You may nominate a dependant to receive your benefits or a legal personal representative to distribute your benefits in accordance with your Will if you die. The Trustee decides who receives the benefit upon your death. This decision will be guided by your Will, your family circumstances at the time, your nominated beneficiaries and legal rules.

The Trustee will take your nomination into consideration but will have the final discretion as to who will receive your death benefit and may override your nomination. The Trustee is obliged to pay death only benefits to dependants or a Legal Personal Representative of your estate (if one exists).

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Who is a Dependant?

Spouse

Husband, Wife or De-Facto. Not same sex partners.

Child

A child includes a stepchild, an adopted child or a child born outside of marriage.

For the purposes of cashing benefits upon the death of a member, in the form of a pension, a child will qualify as a dependant if, at the death of the member, they are:

·          Under age 18; or

·          18 years or over and

-         Financially dependent on the member and less than 25 years of age; or

-         Have a disability that:

(a)     Is attributable to an intellectual, psychiatric, sensory or physical impairment or a combination of such impairments; and

(b)     Is permanent or likely to be permanent; and

(c)     Results in:

(i)      A substantially reduced capacity of the person for communication , learning or mobility; and

(ii)     The need for ongoing support services.

Unless the child continues to qualify as a dependant due to a disability, as described above, the benefit must be taken as a lump sum once the child reaches age 25.

Person with whom you have an interdependency relationship

A person in an interdependency relationship with a member qualifies as a dependant of that member for the purpose of superannuation death benefits.

Two persons will have an interdependency relationship if:

(a)     They have a close personal relationship; and

(b)     They live together; and

(c)     One or each of them provides the other with financial support; and

(d)     One or each of them provides the other with domestic support and personal care;

Two persons will also have an interdependency relationship if they satisfy (a) to (c) above and one or each of them provides the other with support and care of a type and quality normally provided in a close personal relationship, rather than by a mere friend or flatmate.

Where a close personal relationship exists, but the other requirements of an interdependency relationship are not satisfied because either the two persons are temporarily living apart, or one or both of them suffer from a disability (whether physical, intellectual or psychiatric), then an interdependency relationship will be held to exist.

Other Dependants

A person who is wholly or partly financially dependent on the member.

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Who is my Legal Representative?

Executor

Person appointed by you in your Will

Administrator

Person appointed by the Court to administer your estate if no Executor is appointed

Note:

1)        The Trustee will consider a range of factors when determining whether an interdependency relationship exists.

2)        Two persons will not have an interdependency relationship if one of them provided domestic support and personal care to the other;

(a)       Under an employment contact or contract for services; or

(b)      On behalf of another person or organisation such as a government agency, body corporate or charitable organisation.

3)       Please note that the legislation definition is not exhaustive and the Trustee may choose to take into account other circumstances (for example, emotional or financial dependency) when determining your dependants for the purpose of paying a death benefit.

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