A beneficiary is a person you nominate to receive your superannuation benefits if you die. Nominating a beneficiary for your super is also known as making a ‘death benefit nomination’.

Superhero has three types of nominations: 

• Binding nomination: you formally nominate who you want your account balance paid to. If valid, your nomination is legally binding. You are able to make your nomination to be lapsing (expiring after 3 years of making the nomination) or non-lapsing (not expiring unless the nomination is changed or removed).
• Non-binding nomination: you nominate who you’d prefer your account to be paid to. This nomination is not legally binding.
• Reversionary (Retirement account only): you nominate the person that will receive regular pension payments from your account until the balance reaches $0.

The forms for each nomination type are available on our website.

If a deceased person did not make a nomination, or has made a non-binding nomination, the trustee of the fund may:

• use their discretion to decide which dependant or dependants to pay the death benefit to
• make a payment to the deceased’s legal personal representative (executor of their estate) for distribution according to the instructions in the deceased’s will.

There are two types of beneficiary nominations members of Superhero Super can make while in the accumulation phase:

• Binding nomination: You provide formal written direction to Superhero Super to tell us who you want your account balance paid to. If valid, your nomination is legally binding.
• Non-binding nomination: You nominate who you’d prefer your account to be paid to. This nomination is not legally binding.

Once you open a Retirement or Transition to Retirement account with Superhero, you will have the ability to nominate a Reversionary beneficiary.

If you nominate a reversionary beneficiary, this person will receive regular pension payments from your account until the balance reaches $0.

If you would like to make a non-binding nomination you can do this by logging into your Superhero Super account, or via a manual form if this is not possible. For binding and reversionary nominations, you will need to complete the relevant form below and once complete return to us via email at super@superhero.com.au. 

The forms for nominating a beneficiary with Superhero Super are below. 

1. Binding Death Benefit Nomination form
2. Non-binding Death Benefit Nomination form
3. Reversionary Death Benefit Nomination form

You can nominate the following people as beneficiaries:

• your spouse or partner.
• your children (conditions apply for reversionary beneficiary nominations).
• interdependants (someone who lives with you and shares a close personal relationship here one or both of you provide financial and domestic support, and personal care of the other). 
• other financial dependants (such as someone who relies on you financially).
• your estate or legal personal representative (not available for reversionary nominations).