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What if something happens to you?
You can make a non-binding or a binding nomination for your beneficiaries to receive your benefit if you die.
QIEC Pension also allows members to nominate a reversionary beneficiary at commencement. A reversionary beneficiary would continue to receive pension payments after the death of the member, or they can commute their pension and be paid a lump sum benefit.
Nominate a Beneficiary
It is important that you consider who you would like to nominate as a beneficiary of your superannuation in the event of your death. QIEC Super asks that you nominate a beneficiary on joining the Fund. Death benefits can generally only be paid to your Dependants or Legal Personal Representative.
A preferred or non-binding nomination of beneficiary is NOT BINDING upon the Trustee of the Fund, however, the Trustee will refer to your nomination of beneficiary and your will in determining to whom your benefits will be paid in the event of your death. You may change your preferred beneficiary at any time by completing a Change of Personal Details form.
You may also make a "Binding" nomination of beneficiary. A binding nomination of beneficiary is binding upon the Trustee of the Fund (i.e. the Trustee has no discretion as to whom your benefit is paid) providing the binding nomination is valid.
For a binding nomination to be valid the beneficiary must be a dependant (spouse, de facto, same-sex partner, child, financial dependant, interdependent person) or legal personal representative (executor or administrator of your estate), your nomination must be signed by 2 witnesses who are not beneficiaries, and your nomination must have been made or affirmed within the past 3 years. Please complete a Binding Beath Nomination of Beneficiary form if you choose to make a Binding nomination.
There are rules surrounding who your beneficiaries can be and the role QIEC Super plays to ensure your benefit goes to the right people.
If you have any questions, please call QIEC Super Administration.
- Nominating a Beneficiary Fact Sheet
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