2018 National Superannuation Conference

The Tax Institute

One of the most significant consequences of the transfer balance cap is the effect it has on the payment of death benefits. This will affect all couples who have a combined superannuation balance of $1.6 million.

Previously, for couples, super benefits could remain in super until the death of a survivor. This is because upon the death of the first, the deceased’s benefits could be paid as a death benefit pension to the survivor, regardless of the amount. It is only on the death of the survivor (assuming there are no children eligible to receive a death benefit pension) that the super benefits would be required to exit the super fund.

In this paper, Phil Broderick examines how the super reforms affect super death benefit planning.

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