Difference Between Lapsing and Non-Lapsing
The difference between lapsing and non-lapsing superannuation nominations is that a lapsing nomination is generally valid for 3 years; whereas a non-lapsing nomination does not expire. Superannuation death benefit nominations are legal directives to a trustee of a...Pension Refresh Strategy
A pension refresh strategy involves commuting an existing pension and commencing a new pension to include contributions accumulated since the original pension was initially established. Starting a superannuation pension does not prohibit a person from continuing to...Tax on Superannuation Death Benefits
The tax on superannuation death benefits varies depending on the recipient of the benefits, the components that make up the benefit and the for in which the benefit is paid. Tax on superannuation death benefits can be quite considerable and have a significant impact...Non-Binding Death Benefit Nomination
A Non-Binding Death Benefit Nomination is a declaration made to the trustee of your super fund. A superannuation fund trustee is responsible for the management of your superannuation savings on your behalf. You are able to submit a nomination to the trustee detailing...
Difference Between Binding and Non-Binding Nominations
Through the use of a superannuation nomination form, an individual has the ability to nominate which of their beneficiaries will receive their superannuation or pension balance in the event of their own death. A superannuation nomination can be Binding or Non-Binding....What is a Non-Binding Beneficiary in Superannuation?
What is a non-binding beneficiary in superannuation? A non-binding beneficiary is a the person that you would like to receive your superannuation balance (and any insurance benefits within super) upon your death. A person becomes a non-binding beneficiary of your...Binding Death Benefit Nomination Pros & Cons
There are a number of advantages and disadvantages of superannuation binding death benefit nominations. A superannuation binding death benefit nomination is akin to a Will for your super. Your Will does not control who receives your super if you die. The distribution...Lapsing Binding Death Benefit Nomination
A lapsing binding death benefit nomination is a super nomination that has an expiry date. There are various death benefit nominations you can make. Generally, a non-binding nomination will be non-lapsing. A binding nomination can be lapsing or non-lapsing. The type of...How to Access Your Super Before Retirement
There are a number of ways that you can access your super before retirement… legally…. but unfortunately most of them require you to die, be close to death, be severely injured or be on the bones of your ar#e. There are also many dodgy schemes out there...
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