Whether through divorce or the death of a partner, finding yourself suddenly single can be emotionally and financially overwhelming. Among the many things to manage, superannuation often sits quietly in the background, but it actually plays a key role in your long-term financial wellbeing.
Change like this can feel daunting, so the advisors at FMS Group offer clear, compassionate support to help you navigate superannuation after divorce or bereavement with confidence and care.
What Happens to Super Annuation in a Separation?
In Australia, superannuation is treated as property during divorce settlements, meaning it can be divided between partners even if only one person’s name is on the account. This process is often called a super split in separation.
The split can happen through a financial agreement (made before, during or after marriage) or by court order. The goal is to ensure both parties receive a fair share of total assets, including super balances.
If you’re going through a separation, it’s important to:
- Get a clear picture of each partner’s super balance
- Understand any splitting options available
- Consider the long-term impact on your retirement savings
Super rules can be complex, so getting professional financial advice after divorce can make all the difference in protecting your interests.
Understanding Death Benefits and Nominations
When a partner passes away, their super doesn’t automatically form part of their estate. Instead, the fund pays it out as a death benefit, often to a nominated beneficiary.
If you’re the nominated beneficiary, you may be entitled to receive their super as a lump sum or income stream. The tax treatment depends on your relationship to the deceased and how you receive the payment.
That’s why keeping your death benefit nomination for super up to date is essential. It ensures your loved ones are looked after according to your wishes and avoids unnecessary complications later.
Reviewing Your Super After Major Life Changes
- Review your super fund and investment options
- Check that your insurance cover still suits your circumstances
- Update your beneficiary nomination
- Reassess your retirement goals and contribution strategy
These steps help ensure your super continues to grow in line with your needs and gives you peace of mind for the future.
You Don't Have to Face It Alone
Change is never easy, but with the right support, you can move forward feeling informed and in control.
At FMS Group, we specialise in helping clients navigate life’s financial transitions, from superannuation advice on the Central Coast to estate planning, tax, and investment strategy.
We’ll help you understand your options, make confident decisions, and plan for the next chapter with clarity and care.
Book a consultation today by calling 1300 982 499.
Disclaimer: This blog is general in nature and does not constitute personal financial advice. Please consult a qualified financial planner before making decisions based on your individual circumstances.