Product Disclosure Statement

Nominating beneficiaries
You can nominate who you wish to receive your Allocated Pension
or WISP benefit on your death by making a:
• a reversionary death benefit nomination
• a binding death benefit nomination; or
• a non-binding death benefit nomination.
Reversionary nomination
You can nominate a reversionary beneficiary to continue to receive
your pension payments in the event of your death. You can only
nominate your spouse (including a de facto partner whether of the
opposite or same sex) as a reversionary beneficiary.
Your pension payments will then revert automatically to your
spouse, provided they are your spouse at the time of your death.
Your pension payments will continue to be paid to your spouse for
the remaining term of the pension and will stop at the end of the
term.
You can only nominate a reversionary beneficiary before your
pension commences. Once your pension starts, your reversionary
nomination cannot be changed.
If the pension cannot be paid to your reversionary beneficiary
(e.g. if you divorce and they are no longer your spouse), your
reversionary nomination will no longer be valid and your benefit
will be payable as a death benefit to your dependants or your legal
personal representative through your estate.
If the Trustee, after making reasonable efforts, is unable to locate
any of your dependants or a legal personal representative, we will
pay your benefit to some other suitable individuals as determined
by the Trustee.
To make a reversionary nomination
Tick the ‘Reversionary nomination’ box in the ‘Death benefit
nomination’ section of the relevant application form at the back
of this PDS and provide details of your reversionary beneficiary.
Death benefit nomination
You may decide to nominate a beneficiary who is a dependant or
your estate through your legal personal representative to receive
your death benefit by making either a binding or non-binding
nomination.
If you make a binding or non-binding nomination, you can nominate
one or more of your dependants and/or the legal personal
representative for your estate to receive your death benefit.
Under super law, a ‘dependant’ is:
• your spouse (including an opposite- or same-sex de facto
partner)
• your children (including children over 18, step-children,
adopted children, ex-nuptial children, children of a same-sex
relationship, children of an opposite- or same-sex de facto
partner, IVF children and children born under certain surrogacy
arrangements)
• anyone financially dependent on you; and
• anyone with whom you share an interdependency relationship.
Your ‘legal personal representative’ means the executor of your will
or the administrator of your estate (where you have left no will).
Only one death benefit nomination can apply to all of your Maritime
Super memberships. This means that if you make a valid binding
or non-binding nomination, it will revoke any existing death benefit
nomination applying to all of your Maritime Super memberships and
will replace any non-lapsing nomination for a former SERF member.
In addition, a binding nomination will revoke any reversionary
nomination that you have made for your Allocated Pension or WISP
(if any). However, you can authorise on the Binding beneficiary
nomination form to have any revoked reversionary nomination
immediately reinstated for your Allocated Pension or WISP.
The death benefit will generally be payable as a lump sum,
however, the beneficiary may be able to apply, or the Trustee
may determine, that the benefit is to be paid as a pension. If the
Trustee, after making reasonable efforts is unable to locate any
of your dependants or a legal personal representative, then the
Trustee will pay your benefits to some other suitable individuals as
it determines.
An additional amount to compensate for contributions tax paid on
taxable contributions may also be added if your death benefit is
paid to your spouse, former spouse or a child (including an adult
child, the child of a de facto partner and a child from a samesex
relationship) or to your estate if passed onto these eligible
dependants.
Allocated Pension and Working Income Support Pension • PDS • 17