Uncertainty cleared on binding death benefit nominations

After years of uncertainty, the High Court of Australia has confirmed that r 6.17A of the Superannuation Industry (Supervision) Regulations 1994 do not apply to self-managed super funds (SMSFs).

The long-shot of this decision is that the manner in which an SMSF may regulate the payment of death benefits will come down solely to the relevant governing rules of the fund contained in the SMSF trust deed, and subject to generally complying with superannuation and trust law.

For the full article, please go to Jack Conway’s LinkedIn article.