Who can be your beneficiary?

A beneficiary must be:

  • a dependant under superannuation law, or
  • your estate (also known as your legal personal representative).

You can nominate one or more beneficiaries if your super fund allows it.

You should keep your beneficiaries up to date and in line with your personal circumstances. If you don't, your death benefit might not go to the people you want it to.

Your annual statement will show who you've nominated. If you are a member of an AMP fund, they can also be confirmed through My AMP.

At a glance

  • A super fund beneficiary must either be a superannuation dependent or your estate.
  • It's important to keep your beneficiaries up to date.
  • Binding nominations ensure the trustee pays to your nominated beneficiary.
  • Death benefits will be paid to dependents tax-free.
  • Non-dependents will be taxed up to 32%.

Are there different ways of nominating beneficiaries?

This table gives an overview of each option, although some conditions apply.

Option  What happens to your death benefit?
Non-lapsing binding nomination Non-lapsing binding beneficiary nominations do not expire, and therefore do not need to be renewed. A non-lapsing nomination is a request by a member to the trustee to pay their benefit to the beneficiaries nominated and in the proportions specified. If the trustee consents to the nomination and it is valid at the time of a member's death, the trustee is bound to pay a member's death benefit in accordance with the nomination. A non-lapsing nomination will continue to apply until a member revokes an existing nomination or makes a new nomination. In certain circumstances a non-lapsing nomination will be treated as a non-binding nomination. It is important that members review their non-lapsing nomination regularly to ensure that it is still appropriate for them.

From 1 October 2021, all new beneficiary nominations for your AMP super account will need to be non-lapsing binding nominations.
 Binding nomination  If you provide a binding nomination that satisfies all legal requirements and which has not expired (binding nominations typically expire after three years unless you renew them) the trustee of the super fund must pay your benefit to the beneficiaries you have nominated and in the proportions specified.
Non-binding nomination The trustee of the super fund will decide which of your beneficiaries will receive your death benefit and in what proportion. Your nominated beneficiaries will be taken into account.
No nomination Depending on the product, the trustee will either pay your death benefit to your estate or it may use its discretion to determine the beneficiaries.



How do I add or update my beneficiary(ies)?

AMP offers non-lapsing binding nominations.

It's easy to nominate or review your beneficiaries online via My AMP. This can be done securely, and without the need for a witness.

To nominate, review or update beneficiaries, follow these steps:

1. Log into My AMP.
2. On the 'Superannuation' page, select 'Manage my beneficiaries' from the 'I want to' menu
3. Add or update your binding non-lapsing beneficiary.

Please note, prior to 1 October 2021, AMP members could also make a binding nomination. These types of nominations expire after three years. We'll continue to honour any valid existing beneficiary nomination until it expires.

If you need help, please feel free to call us on 131 267.

More information

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Important information

Products in the AMP Super Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP). Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement, Target Market Determination or Terms and Conditions available from AMP at amp.com.au or by calling 131 267. Read AMP’s Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.

Products in the AMP Eligible Rollover Fund, National Mutual Retirement Fund, and NM Pro Super Fund are issued by Equity Trustees Superannuation Limited ABN 50 055 641 757 (trustee). Risk products are issued by AMP Life Limited ABN 84 079 300 379 (AMP Life), which is part of the Resolution Life group. AMP Life has proudly served customers in Australia since 1849. AMP Limited ABN 49 079 354 519 has sold AMP Life to the Resolution Life group whilst retaining a minority economic interest. AMP Limited has no day-to-day involvement in the management of AMP Life whose products and services are not affiliated with or guaranteed by AMP Limited. AMP Limited is not liable for products issued by AMP Life or any statements or representations made in the PDS for those products. “AMP”, “AMP Life” and any other AMP trademarks are used by AMP Life under licence from AMP Limited. Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP Life at amp.com.au or by calling 133 731. Read AMP Life’s Financial Services Guide for information about our services, including the fees and other benefits that AMP Life and/or other companies within the Resolution Life group may receive in relation to products and services provided to you.

Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). All information on this website is subject to change without notice.