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The Times of India
The Times of India
World
TOI World Desk

Your will may not decide where your super goes: About 15.7 million Australians are estimated to lack a binding death-benefit nomination

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Millions of Australians may believe their superannuation will automatically go to the people they name in their will when they die. But this is not necessarily so. A recent news report by ABC Information & Services News suggests that around 15.7 million Australians may not have a legally binding death-benefit nomination, which would give super funds a fair amount of discretion over who gets the money. The issue is drawing attention as regulators and consumer advocates call for clearer rules and faster processing of death-benefit claims.

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