What happens to your super if something happens to you?
Your super is likely to be one of your most significant assets, so it’s important to know what will happen to it after you’re gone or if you get injured and are unable to work.
Our schemes are unique and our rules for payment of super benefits after a member's death are slightly different from other providers.
Your super benefit could be paid in certain circumstances
Currently your super benefit might be paid out in the following circumstances:
- You are at least 55 years of age and have stopped working in the WA public sector or have returned to the WA public sector and work less than 10 hours per week
- You apply to access your super benefit to set up a Transition to Retirement income stream
- You pass away in which case:
- The benefit is paid to your nominated beneficiaries, if you have a valid binding death nomination, or
- The benefit is paid to your estate if no valid nomination exists
- You become totally and permanently disabled, or suffer from a terminal medical condition
- You receive approval from us to release your super on financial hardship or compassionate grounds
Accessing your super before age 55
There are other circumstances when you could access your benefit if you are under the age of 55. It’s important to know:
- If you’re eligible, the Contributory Service Component of your benefit would be subject to a discount factor of 1.75% p.a. for every year you are under the age of 55
- You could pay more tax if you access your benefit too early. Your benefit is taxed according to your age, in particular your Commonwealth preservation age which is different to the age at which you can access your super
Gold State Super insurance cover
Your Gold State Super account includes automatic death and disability insurance, at no extra cost, for as long as you’re making contributions, and until you turn 60.
You’re covered 24 hours a day, seven days a week, no matter where you are.
Plan ahead for your estate
If you pass away, a death benefit will be paid:
- To your nominated beneficiaries in accordance with your binding death nomination, or
- To your estate, if you don't have a valid binding death nomination
An 'estate' refers to all of the assets you own. It can include super, real estate, bank accounts, motor vehicles and other investments or possessions. If you don’t make a binding death nomination, making a will is the best way to make sure that your super will go to the people who you want to benefit. It also allows you to choose an executor who will be responsible for making sure your wishes are met.
Your Death benefit is the sum of:
- Your accrued benefit - the total benefit built up in your Gold State Super account until your date of death
- Any insured component - the benefit you would have built up from the date of death until age 60. The value of your insured component depends on several factors
Find out more about your insurance
If you need more information on your Gold State Super Death benefit, please refer to the 'Insurance' section of the 'Gold State Super essentials' brochure or call your Member Services Centre on 13 43 72.
Need help
- Call us on 13 43 72
Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 28 April 2024.