Nominate a beneficiary CSCri
Leave no uncertainties behind. Nominating your beneficiaries is important. Filling out our nomination form will help you get peace of mind.
Who can you nominate
CSCri members can make either a non-binding, binding, or reversionary nomination for the distribution of your remaining account balance in the event of your death.
A non-binding nomination is for your preferred beneficiaries; these will not be binding on CSC but will be used as a guide when making the final decision as to whom your benefit is paid.
A binding nomination is also used to nominate your preferred beneficiaries but it will bind CSC to pay your death benefit to specified people provided correct procedures have been followed. This provides greater certainty about who receives your benefit if you die.
A reversionary death benefit nomination is used to nominate and pay your dependent an income stream until the account balance is nil or they fully withdraw the income stream. If you make a reversionary nomination you cannot make a non-binding or binding death benefit nomination. There could also be tax implications.
Before making any decisions you should read the Product Disclosure Statement and consider speaking to a financial planner.