Australians must update superannuation beneficiary nominations to ensure funds go to intended recipients after death.

In Australia, ensuring your superannuation funds go to the right person after death requires a valid beneficiary nomination. Super funds are not covered by wills, so it's crucial to update nominations, especially after life changes like divorce or having a child. There are four types of nominations: lapsing, non-lapsing, non-binding, and reversionary. NGS Super advises reviewing and updating nominations regularly and consulting professionals for guidance.

2 months ago
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