Who gets superannuation after death?

Superannuation is typically paid to the beneficiary nominated by the account holder. If no beneficiary is nominated, the super fund trustee decides who receives the death benefit , often prioritising dependents or the estate.

Does a will override a superannuation beneficiary?

No, a will does not override a superannuation beneficiary nomination. Super is not automatically part of your estate and is governed by the super fund's rules and the nominated beneficiary. However, if the nomination is non-binding, the trustee has discretion over the distribution.

Do beneficiaries pay tax on super inheritance?

Yes, beneficiaries may need to pay tax on superannuation inheritance, depending on factors like their relationship to the deceased and the tax components of the super fund . Lump-sum payments to dependents are generally tax-free, while non-dependents may face tax obligations.

Do children inherit superannuation?

Yes, children can inherit superannuation if they are nominated as beneficiaries. However, tax implications may vary depending on whether they are considered dependents or non-dependents under superannuation law.

Who is eligible to be a super beneficiary?

Eligible super beneficiaries typically include spouses, children, financial dependents and interdependents. You can also nominate your estate as a beneficiary, allowing the super to be distributed according to your will.

How do I claim super as a beneficiary?

To claim super as a beneficiary, you need to contact the super fund and provide necessary documentation, such as proof of identity and relationship to the deceased. The fund will then process the claim according to its rules and the deceased's nomination.

Can you leave super to your parents?

Yes, you can nominate your parents as beneficiaries of your superannuation. However, tax implications may differ if they are not considered financial dependents under superannuation law.