Deciding who your super goes to if you die, is an important decision.
Binding beneficiary nomination
Non-binding beneficiary nomination
Non-lapsing beneficiary nomination
Reversionary beneficiary nomination
Binding and Non-lapsing beneficiary nomination | Non-binding beneficiary nomination | Reversionary beneficiary nomination | |
---|---|---|---|
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? | Binding nomination - 3 years; Non-lapsing nomination - No | No | No |
Who can be nominated? | A dependant or your estate | A dependant or your estate | A dependant (certain restrictions regarding nominating children apply) |
Is the nomination binding on Rest? | |
Binding and Non-lapsing beneficiary nomination | Yes |
Non-binding beneficiary nomination | No. However, it will act as a guide and is important in helping us determine who should receive your money. |
Reversionary beneficiary nomination | Yes |
When can a nomination be made? | |
Binding and Non-lapsing beneficiary nomination | Any time |
Non-binding beneficiary nomination | Any time |
Reversionary beneficiary nomination | Only at the opening of your Rest Pension account. |
Can the nomination be changed or updated? | |
Binding and Non-lapsing beneficiary nomination | Yes |
Non-binding beneficiary nomination | Yes |
Reversionary beneficiary nomination | No |
Will the nomination lapse after any period of time? | |
Binding and Non-lapsing beneficiary nomination | Binding nomination - 3 years; Non-lapsing nomination - No |
Non-binding beneficiary nomination | No |
Reversionary beneficiary nomination | No |
Who can be nominated? | |
Binding and Non-lapsing beneficiary nomination | A dependant or your estate |
Non-binding beneficiary nomination | A dependant or your estate |
Reversionary beneficiary nomination | A dependant (certain restrictions regarding nominating children apply) |
Make a binding nomination
You can nominate a binding beneficiary by completing the Rest – nomination of beneficiary form and returning it to us.
Make a non-binding nomination
Log in to your Rest App => click ‘Menu’ => click ‘Beneficiaries’ => select ‘Non-binding beneficiaries’.
Review your beneficiary anytime
You can review your current super beneficiaries by logging in to the Rest App or via MemberAccess.
What happens if my nomination is invalid, or I don’t make a nomination?
How will my beneficiaries be paid?
How will my beneficiaries be taxed?
What happens if I nominate my legal personal representative?
What happens to my nomination if I close my account?
What does ‘financially dependent’ mean?
What is an interdependency relationship?
What are the special conditions for nominating a child as a reversionary beneficiary?
How can deeming rules affect my nomination?