When you apply for a Rest Pension, you are asked to indicate who will receive your pension when you die. As it’s a very important decision you may want to get professional advice from a lawyer or licensed financial adviser.

You can also review your beneficiaries any time in MemberAccess.

Beneficiary options


1. Non-lapsing beneficiary nomination

These are nominations that Rest, subject to accepting the nomination, must follow, and that do not lapse after any period of time. If you make this type of nomination, it is important to update it if your circumstances change, otherwise your money may not be paid as you would prefer. Rest will still have discretion over your death payment if your non-lapsing binding nomination is invalid or if the beneficiary you’ve nominated was not a dependant at the time of your death.

2. Non-binding beneficiary nomination

A non-binding (previously referred to as a ‘preferred’) beneficiary nomination is not binding on Rest, but will act as a guide and is important in helping determine who should receive your money. Your beneficiary should be your dependant or your estate.

3. Reversionary beneficiary nomination

If you nominate a reversionary beneficiary, your dependant at time of your death will receive ongoing pension payments after you die. You can select only one reversionary beneficiary, and you can’t change or delete your nomination.

If you nominate a reversionary beneficiary, they must be your dependant, otherwise Rest will pay your money to your dependant(s) or to your estate.

Compare beneficiary options

  Non-lapsing beneficiary Non-binding beneficiary Reversionary beneficiary
Is the nomination binding on Rest? Yes^ No. However, it will act as a guide and is important in helping us determine who should receive your money. Yes^
When can a nomination be made? Any time Any time Only at the opening of your Rest Pension account.
Can the nomination be changed or updated? Yes^ Yes No
Will the nomination lapse after any period of time? No No No
Who can be nominated? A dependant or your estate A dependant or your estate A dependant

^Provided that the nomination is valid, and the nominated person was a dependant at the date of your death.

Make a nomination

To nominate a non-lapsing beneficiary, complete this form and return it to:
Rest Pension
Locked Bag 5042
Parramatta NSW 2124.

You can make or update a non-binding beneficiary via the Rest App or Member Access.

Need Advice?

Rest Advice is all about helping you make good decisions with your super and money.

If you’re over 58 and still working, find out if a Transition to Retirement strategy could help boost your super or reduce your work hours – without affecting your take home pay.