This document provides a summary of superannuation and retirement pensions in Australia. It discusses the history of superannuation in Australia from its introduction in 1862 to the present day where assets total over $2 trillion. It also outlines the key rules and concepts regarding superannuation contributions, taxes, investment options, insurance coverage and accessing retirement funds through income streams. The document is intended to help readers understand superannuation and how it relates to planning for retirement.
Before worrying about investments you should be using the superannuation and tax system to ensure you are making the most of your money. Boosting your retirement savings while saving tax using a Transition to Retirement Pension is an easy low risk way to maximise returns and lower personal and superannuation tax.
2017 TORONTO Fall Event - Proposed Tax Reform: What You Need to Know (October...Nicola Wealth Management
On October 1, 2017, NWM hosted a group of clients at the Four Seasons Hotel Toronto to discuss Finance Minister Bill Morneau and the Canadian government's proposal for tax reform impacting the majority of Canadian business owners.
NWM President, David Sung, opened the evening with an overview of the proposed tax changes. He provided some context and asked the audience to consider the political undertone of the Liberal government's tax proposal and the way in which they have handled the public push-back.
John Nicola, Chairman & CEO, an overview of what the government is proposing exactly and the impact it will have. He went on to discuss some planning options available to Canadian business owners.
The changing environment for retirement incomenetwealthInvest
This presentation aims to give you a better understanding of the challenges, opportunities and strategies for your (financial advice) clients presented by the following legislated and proposed change.
Before worrying about investments you should be using the superannuation and tax system to ensure you are making the most of your money. Boosting your retirement savings while saving tax using a Transition to Retirement Pension is an easy low risk way to maximise returns and lower personal and superannuation tax.
2017 TORONTO Fall Event - Proposed Tax Reform: What You Need to Know (October...Nicola Wealth Management
On October 1, 2017, NWM hosted a group of clients at the Four Seasons Hotel Toronto to discuss Finance Minister Bill Morneau and the Canadian government's proposal for tax reform impacting the majority of Canadian business owners.
NWM President, David Sung, opened the evening with an overview of the proposed tax changes. He provided some context and asked the audience to consider the political undertone of the Liberal government's tax proposal and the way in which they have handled the public push-back.
John Nicola, Chairman & CEO, an overview of what the government is proposing exactly and the impact it will have. He went on to discuss some planning options available to Canadian business owners.
The changing environment for retirement incomenetwealthInvest
This presentation aims to give you a better understanding of the challenges, opportunities and strategies for your (financial advice) clients presented by the following legislated and proposed change.
Healthcare| Ontario| | Analysis and Commentary| January 2019paul young cpa, cga
Healthcare is a key area for many countries
Canada spends roughly 10% of GDP on healthcare or about $200B. Approximately 20% comes from the federal government through the HST
The largest expenditures for provinces is healthcare. Ontario for example spends around $55B or about 40% of their budget on healthcare
There is lots of waste within healthcare as many provinces have not done a very good job when it comes to value for money/healthcare
The delivery model is broken!
Sample Comprehensive Personal Financial Plan Created in Excel based Personal ...Satish Mistry
Sample Comprehensive Personal Financial Plan in Excel with Entire Life Cash Flow, Child Future Planning, Future Need & Dream Planning, Retirement Planning, Investment Planning, Investment Analysis, Portfolio Rebalancing, All Life Insurance Policy Analysis including LIC's Plan, IRR Calculation, Mutual Fund Porttfolio Analysis, Mutual Fund Portfolio Rebalancing, Practical Asset Allocation with Scheme Removal / Addition. Also seek possibilities of early retirement. Income Tax Planning with Net Taxation Ratio on your Income. Instant Generated Financial Plan in Excel with Real time value of your all Financial Investment ( In Indian Context). If uou need more info, kindly mail me.
Financial Planning is a long term process through which you can achieve your financial goals. We at Financial Hospital bring to you a presentation to help you understand the basics of having a healthy and planned financial future.
Be sure you’re traveling in the right direction. From financial concerns to sound solutions, let’s talk about the challenges you face as you navigate the road toward retirement.
The Tax Diversify Your Retirement Income with Life Insurance sales presentation will help you understand the importance of tax diversification and the benefits that a Custom Whole Life (CWL) policy can provide. In addition to the traditional benefit of death benefit protection, the cash value of the CWL policy accumulates tax-deferred and can generally be accessed on a tax-free basis*.
Use the concept presentation and other materials to discuss how life insurance not only provides death benefit protection, but can also be a tax diversification tool.
Contact me if you would like to discuss
*The cash value is accessed through policy loans, which accrue interest at the current rate, and cash withdrawals. Loans and withdrawals will decrease the total death benefit and total cash value. The supplemental retirement income is not guaranteed.
Super Caps are coming soon, great investment alternatives are already here. Sarah McGavin
View our presentation on how an investment bond can help you grow your clients’ wealth and be a complement to superannuation, presented by National Strategy Manager, Greg Bird.
Healthcare| Ontario| | Analysis and Commentary| January 2019paul young cpa, cga
Healthcare is a key area for many countries
Canada spends roughly 10% of GDP on healthcare or about $200B. Approximately 20% comes from the federal government through the HST
The largest expenditures for provinces is healthcare. Ontario for example spends around $55B or about 40% of their budget on healthcare
There is lots of waste within healthcare as many provinces have not done a very good job when it comes to value for money/healthcare
The delivery model is broken!
Sample Comprehensive Personal Financial Plan Created in Excel based Personal ...Satish Mistry
Sample Comprehensive Personal Financial Plan in Excel with Entire Life Cash Flow, Child Future Planning, Future Need & Dream Planning, Retirement Planning, Investment Planning, Investment Analysis, Portfolio Rebalancing, All Life Insurance Policy Analysis including LIC's Plan, IRR Calculation, Mutual Fund Porttfolio Analysis, Mutual Fund Portfolio Rebalancing, Practical Asset Allocation with Scheme Removal / Addition. Also seek possibilities of early retirement. Income Tax Planning with Net Taxation Ratio on your Income. Instant Generated Financial Plan in Excel with Real time value of your all Financial Investment ( In Indian Context). If uou need more info, kindly mail me.
Financial Planning is a long term process through which you can achieve your financial goals. We at Financial Hospital bring to you a presentation to help you understand the basics of having a healthy and planned financial future.
Be sure you’re traveling in the right direction. From financial concerns to sound solutions, let’s talk about the challenges you face as you navigate the road toward retirement.
The Tax Diversify Your Retirement Income with Life Insurance sales presentation will help you understand the importance of tax diversification and the benefits that a Custom Whole Life (CWL) policy can provide. In addition to the traditional benefit of death benefit protection, the cash value of the CWL policy accumulates tax-deferred and can generally be accessed on a tax-free basis*.
Use the concept presentation and other materials to discuss how life insurance not only provides death benefit protection, but can also be a tax diversification tool.
Contact me if you would like to discuss
*The cash value is accessed through policy loans, which accrue interest at the current rate, and cash withdrawals. Loans and withdrawals will decrease the total death benefit and total cash value. The supplemental retirement income is not guaranteed.
Super Caps are coming soon, great investment alternatives are already here. Sarah McGavin
View our presentation on how an investment bond can help you grow your clients’ wealth and be a complement to superannuation, presented by National Strategy Manager, Greg Bird.
Presentation slides from The SMSF Academy webinar on 26 July 2013, presented by Aaron Dunn.
Session looks at the practical issues, strategies, superannuation law and tax law requirements in paying a member death benefit from a self-managed super fund.
This webinar address the following questions and topics:
• Getting a rebate from the ATO of all superannuation tax paid (anti-detriment rebate)
• What is an anti-detriment rebate? When is it paid and how is the refund calculated?
• How capable is a SMSF structure in paying the rebate? Are there any alternatives?
• Do SMSFs have a use by date?
Close your eyes for a moment--now try to picture yourself on the first day of your retirement. Your last day of work is behind you; there is no alarm clock jolting you out of sleep. You awaken on your own and you have the rest of your life ahead of you. Are you happy about your prospects? Relaxed? Energized? Excited? Now open your eyes.
Nicola Wealth Management - Proposed Tax Reform 2017: What Accountants Need to...Nicola Wealth Management
On September 28th, Nicola Wealth Management hosted over 120 accountants for a presentation on the Canadian government's proposed tax changes for incorporated individuals and small businesses.
2016 Federal Budget - Strategies for financial advisersnetwealthInvest
Following the announcement of the 2016 Federal Budget, netwealth's Technical Services team analysed the proposed legislative changes and developed some possible strategies for financial advisers to use with their clients.
2020 Netwealth Roadshow - Next super steps with Keat Chew, Netwealth Head of ...netwealthInvest
With more than three decades of super asset growth behind us, Netwealth's Head of Technical Services, Keat Chew, presented four strategies that can be used to elevate superannuation advice in 2020 and beyond.
Presentation slides of webinar presented by Aaron Dunn of The SMSF Academy on the finalisation of tax ruling, TR 2013/5, when a pension commences and ceases.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the what'sapp number.
+12349014282
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the what'sapp contact of my personal vendor.
+12349014282
#pi network #pi coins #legit #passive income
#US
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the what'sapp contact of my personal pi merchant to trade with.
+12349014282
2. Disclaimer
The following information is general advice and was prepared
without taking into account your objectives, financial situation
or needs. Therefore you should consider the appropriateness
of the advice in light of your personal situation before acting
on the advice.
An AvSuper Product Disclosure Statement on any financial
product mentioned in this document should also be obtained
and read prior to proceeding with an investment decision.
4. A brief history of Superannuation and
Retirement Pensions in Australia
1862 Introduction of superannuation to Australia
1900 NSW introduces a means tested age pension of £26 pa
1973
Only 32% of working Australians covered by
Superannuation
1983
The Hawke Government expresses support for the
principles of employee Superannuation with employers
obligated to contribute 3% rising to 6% over time
1990 AvSuper established
1992 Compulsory Superannuation commenced 1 July
1992 Superannuation assets at $148 billion
(estimated by Reserve Bank of Australia)
2015 Superannuation assets estimated at $2,022 billion
2015
The Association of Superannuation Funds of Australia
(ASFA) statistics – 30.7 million super accounts in Australia
5. A brief history continued…
What does this mean for me?
1. Compulsory Super contributions for the entire working life
of those starting work after 1991.
Thus more in super and, in theory, a more comfortable
retirement.
2. In 15 years super assets have grown by over a TRILLION
dollars
3. Extreme pressure on social security system (Age Pension)
when the baby boomer generation retires.
Baby Boomers accounted for 69% of workers in 2009
(5.6 million out of 8.1 million full time employees)
4. ABS statistics at 30 July 2015
– 23.9 million Australians
– 8,170,400 full time employees
7. Accessing your super
Date of Birth Preservation Age
Before 1 July 1960 55
1 July 1960 - 30 June 1961 56
1 July 1961 - 30 June 1962 57
1 July 1962 - 30 June 1963 58
1 July 1963 - 30 June 1964 59
From 1 July 1964 60
• when you reach your ‘preservation’ age & permanently retire
• when you reach age 60 and cease your current employment
• when you reach age 65
8. Accessing your super
cont’d
You may be able to access super
early through
• Terminal illness
• Financial hardship
• Compassionate grounds
Note specific criteria must be met to be eligible
for such claims.
9. Nominating super beneficiaries
Non-binding
• Provides direction to the Trustee
• Can be changed via Member Online or a form
• No expiry date
Binding
• Legally binding so Trustee must follow it
• Must be valid and less than 3 years old
• Can be changed by completing a form and
having it witnessed
Remember to update it periodically
and for major life changes
10. Taxation Treatment
Tax on contributions
Concessional (Employer & salary sacrifice) contributions are generally
taxed at 15%
Tax on investment earnings
Investment earnings of super are taxed at a maximum rate of 15%
Tax if you don’t provide your Tax File Number (TFN)
By not providing your TFN you may pay up to 45% (plus Medicare
levy) contributions tax
Tax on withdrawals
Tax on withdrawals varies depending on age and other characteristics
All super accounts have a taxable and tax free component. Tax on the
taxable component is applied as:
– 22% for people below preservation age
– 17% for people between preservation age and age 59
– Nil tax for people aged 60 and above
Note: A low rate cap applies in certain circumstances which may
reduce tax on the taxable component
12. Types of contributions
• Superannuation Guarantee (employer)
• Salary sacrifice contributions (pre-tax)
• Member voluntary contributions (post-tax)
• Spouse contributions (post-tax)
• Government low income contribution
• Government co-contribution
13. Ordinary time earnings (OTE)
Employer contributions are calculated as a % of your OTE,
which generally
Includes: Examples
Awards & agreements Usual hours, casual shift-loadings
Allowances Danger, retention, unconditional extra payment
Payment of expenses Return to work (under workers compensation)
Leave payments Annual leave, sick leave, long service leave
Bonuses Performance, Christmas, ‘ex-gratia’ for ordinary hours
Other Commissions, termination pay (in lieu of notice)
Excludes: Examples
Over time amounts Hourly rates, loadings, annualised rates, lump sum payments,
casual employees
Payment of expenses Reimbursements, unfair dismissal, petty cash
Leave payments Parental, jury duty, defence reserve service
Bonuses For overtime
Other Termination pay (unused sick, annual or long service leave)
14. Contribution
type
Contribution
limit
Before-tax
contributions
(concessional)
• employer
• salary sacrifice
• self-employed
$30,000 pa (indexed)
$35,000 pa if over 49
(not indexed)
After-tax
contributions
(non-concessional)
• after-tax voluntary
• spouse
$180,000 pa
(6 x concessional limit)
If under 65 can pay
$540,000 in one year, then
$0 for next 2 years.
Super contribution limits
15. Government Co-Contribution
from 1 July 2015
• $0.50 for each $1.00 you contribute after
tax, up to a maximum of $500 (where
your total income is less than $35,454)
• The co-contribution is reduced if your
total income is $35,454 - $50,454
• 10% or more of your total income must
be from employment, running a business
or a combination of both
Other eligibility criteria also apply
16. Spouse contributions
If you make a contribution for your spouse
you may be able to claim a tax offset up to
$540 per financial year:
• 18% of contributions up to $3,000
• spouse’s total income is $10,800 or less
• reduces by $1 for each $1 over $10,800
• is nil if your spouse earns $13,800 or more
17. To be eligible for the Spouse
Contribution tax offset
• You did not claim a tax deduction for
the contributions
• Both you and your spouse were
Australian residents when the
contributions were made
• Your spouse’s assessable income +
total reportable Fringe Benefits
amounts are less than $13,800
18. Contributions splitting
• You can split concessional
(before–tax) contributions
with your spouse
• You can only split
concessional contributions
made to an accumulation
account
• Contribution splitting is limited to a maximum of
85% of your concessional contributions
• Contributions exceeding your concessional
limit cannot be split
Note: You can only split contributions made
in the previous financial year
20. Asset classes explained
Growth assets
• e.g. shares and property
• higher risk but also have the potential for
higher returns, especially over the long term
Defensive assets
• e.g. cash and fixed interest (bonds)
• lower risk but generally provide lower returns
21. Investment Options and performance
As at 30 June 2015
Investment
Options
Defensive Growth 1 year 3 year* 10 year*
Growth (MySuper) 20% 80% 8.5% 13.2% 5.8%
Conservative Growth 70% 30% 4.6% 7.2% -
Stable Growth 50% 50% 6.4% 9.7% 5.8%
Balanced Growth^ 35% 65% - - -
High Growth 0% 100% 10.6% 16.9% 6.4%
Australian Shares 0% 100% 5.4% 16.4% -
International Shares 0% 100% 14.3% 18.1% -
Cash 100% 0% 2.4% 3.1% 4.1%
* Compound average returns
^ Introduced on 1 July 2015
22. Member Investment Choice (MIC)
• Eight investment options available to suit
your risk profile and retirement horizon
• No switching fees and you can switch as
many times as you like
• Current balances and future contributions
and rollovers can be invested differently
23. Growth (MySuper)
investment option
The default option for members not
making a choice
0.77% investment management fee
Primary objective:
(a return after fees & taxes above CPI)
25. AvSuper Insurance
• 2 units of Automatic cover is provided for
Death and Total & Permanent Disablement
(TPD) – you can choose to opt out
• You can apply for additional cover and
Income Protection cover
• Premiums
– deducted from your account monthly
– based on your age and number of units
• Pre-approved cover increases for
major events
Term, conditions and eligibility rules apply
26. Income Protection (IP) Cover
• Short Term cover - payable for up to 2 years
• Long Term cover – payable up to age 60
• Your choice of 30, 90 or 180 day waiting period
• Cover up to 75% of salary
• An additional 10% salary can be insured as a
super contribution into your AvSuper account
You must be working at least 15 hours per week
to be eligible for this cover
27. Example insurance
cover
* Based on a male member at age 35 earning
$120,000 in a light blue collar occupation
Type of cover Number
of units
Amount of
cover
Annual
premium*
Automatic death and TPD 2 $131,000 $78
Death only 8 $524,000 $208
Death and TPD 8 $524,000 $312
Income Protection
short-term cover with 30 day
waiting period
$8,500 pm $551.65
29. Super Income Streams
• Same low fees and strong investment
returns as other AvSuper accounts
• Withdraw funds once you are retired –
tax free if over 60
• Any remaining balance can be paid to
your dependants or estate when you die
• Counts 100% towards the
Centrelink Asset test
30. AvSuper income streams
Full income stream Transition to retirement (TTR)
Retired Can still be working
Can with draw lump sums Can’t withdraw lump sums
Withdraw up to 100% of
balance each year
Withdraw up to 10% of balance
each year
Same fees, investment choice and member
benefits apply to both income stream types
• Access once you reach preservation age
• Cannot add money once opened
• Two types:
31. From super to Income
Stream
Earn a salary
9.50% employer contribution &
salary sacrifice into super
Transfer super into an income
stream
Draw down at least 4% a year as
an income stream
32. Qualifying for the
Government pension
• Centrelink does two eligibility tests
• Apply the lower rate to determine
your pension eligibility
34. Other Features
• Anyone can join AvSuper
• Online account access
• Stay in AvSuper when
changing employers – and
industries
• Monthly investment update
on our website
• No contribution fees
• No fees to switch investment
options
35. AvSuper’s Member Advice
Solution
• Personal advice about insurance,
contributions, income streams
(including TTR) and investment
options available through your
AvSuper account – provided at
no additional cost
• Complex advice on retirement and
Centrelink as a fee-for-service
To make an appointment for personal advice,
Call 1800 805 088 or
email avsinfo@avsuper.com.au
36. Changing employers,
keeping your super
• Stay with AvSuper if you
change employers or stop
working
• New employers can
contribute to AvSuper for you
• Employer and personal
contributions can be made by
cheque or direct deposit
37. Rollovers to AvSuper
• Rollover amounts from other super funds -
keeping your money together can save on fees
• No entry fee is charged
• Your old fund may charge an exit fee
and you may lose other member benefits
when transferring
• You may be eligible to
transfer your existing
super insurance over
eRollover via Member Online – easy!
38. To find out more….
• Visit www.avsuper.com.au
• Call 1800 805 088
• Tweet twitter.com/aviationsuper
• Like facebook.com/AvSuper
• Visit us in Canberra
(off 25 Constitution Ave, opposite Airservices reception)
Editor's Notes
3. By 2030 all baby boomers will be 65 or older. This means that there will potentially be no age pension in the future and means having an active interest in your superannuation and contribution levels is vital. This should encourage members to make extra contributions. AIM: Increase contributions
ASFA - Association of Superannuation Funds of Australia
ABS - Australian Bureau of Statistics
4. This means that there are millions of working Australians with more than one Superannuation account. This is a major issue as these people could potentially be paying multiple fees, multiple insurance policies and having a negative impact on their retirement savings. AIM: Roll to AvSuper
Optional to make a nomination but if you don’t, the Trustee will decide how your super is distributed if you die whilst a member.
Super law has specific definitions of who can be a beneficiary – nominating ineligible people makes your nomination invalid.
Note that income streams have some different tax rules – generally they pay less tax.