HESTA members can check and change their nominated beneficiaries at Member Online . Alternatively, you can notify HESTA in writing at HESTA Super Fund , PO Box 600, Carlton South, VIC 3053.
Like the majority of other super funds, the HESTA Board has chosen not to offer binding death benefit nominations for two key reasons.
One reason is that binding nominations must be witnessed by two people over age 18. This can be a problem when the member dies and the Trustee is challenged to prove that the witnesses were valid.
The other reason is that binding nominations are subject to the same problems as a will that is not updated to reflect a person's changing relationships. For example, the Trustee may be obliged to pay the money to a person from whom the deceased separated or was divorced months or even years previously.
By using non-binding nominations, we can:
- seek the member's beneficiary preferences on their application form
- report the recorded details on member statements every six months, with a reminder to review and update any changes to personal information. As few nominations are ever updated, we believe a similar situation would occur for binding nominations. This would mean the nomination would lapse due to lack of regular affirmation within the preceding three years.
- obtain updated details at any time via the Change Of Member Details form or Member Online. Recent changes or affirmations would be an indication that they reflect the member's latest wishes.
- obtain a copy of a deceased member's Will to view their preferences
- consider the date sequence of the nomination and the Will
- obtain declarations from claimants explaining any dependency, and stating whether any other person was entitled to claim
- consider any interdependency relationship that the deceased may have had
- request additional information if required
- determine a proposed benefit distribution and advise the parties, including allowing 28 days for objections
- review any objections. If a decision is varied, HESTA will issue new 28-day letters regarding the new proposal. If a decision is affirmed and somebody maintains their objection, the claim may be referred to the Superannuation Complaints Tribunal (SCT) for conciliation or a determination.
HESTA receives around 1,000 death claims each year. We typically receive only a handful of requests for review of the initial decision. Of these, few are referred to the SCT, and some of these reflect disputed family situations where even a deceased's Will may be contested.
A same sex partner is considered your spouse (and therefore a potential beneficiary) if:
- you are in a relationship that is registered under a law of a state or territory, or
- your partner, although not legally married to you, lives with you on a genuine domestic basis in a relationship as a couple.
For relationships that are not legally registered, the Fund may need to consider the circumstances of the relationship when determining the existence of a ‘relationship as a couple’, such as; duration of relationship, living arrangements, whether a sexual relationship exists, financial dependence, ownership and use of property, degree of mutual commitment, care and support of children, and reputation and public aspects of the relationship.
HESTA does not check the validity of any nominated beneficiaries. We’re not in a position to establish whether the nominee may be financially dependent, or in an interdependency relationship with you at the time you make a nomination. However, HESTA will do so at the time of claim. You can only name individuals, not charities. If there’s a clear indication that a deceased member wants a benefit paid to a person who doesn't qualify as a dependant and so can’t receive it, HESTA may consider whether the Will would direct the benefit to that person and, if so, may pay the super to the deceased estate. A will is a legal document that sets out how you want your assets distributed upon your death.
Some people nominate their estate with the intention of then using their Will to distribute proceeds to charities and other non-dependants. Some members also write in their Will that they want their super to be paid in a particular way. While the Will is not binding on the Trustee, the Trustee would consider this indication in its decision-making process.
DISCLAIMER The information provided is a summary only of HESTA's insurance arrangements and the benefits offered. The provision and availability of insurance benefits is governed by the policies of insurance and is subject to terms and conditions. For full details click here .