Please remember** - one reminder in relation to paying super death benefits

Last week's post considered the fact that in some circumstances a superannuation death benefit may be paid, other than to a member's dependants or legal personal representative (LPR) – which according to superannuation laws are generally the only two possible recipients.

One piece of feedback in relation to this related to how such a payment is permissible given the superannuation rules seem to so clearly mandate that death benefits must be paid to a dependant or LPR.

The reason that a wider class of potential recipients is possible is set out under Superannuation (Industry) Regulation 6.22(3), which states that the relevant conditions are satisfied if:

1. the trustee has not, after making reasonable enquiries, found either an LPR, or a dependant, of the member; and
2. the person in whose favour benefits are cashed is an individual.

As usual, please contact me if you would like access to any of the content mentioned in this post.

** For the trainspotters, the title of today's post is riffed from the Cure song 'Treasure'.

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