Common use of Nominate beneficiaries Clause in Contracts

Nominate beneficiaries. You, but not persons acting on your behalf, may nominate beneficiaries to receive the benefit on your death before retirement. Your nomination applies to your benefit (i.e. all your product accounts) and only natural persons may be nominated. Your nomination does not guarantee that your beneficiaries will receive any death benefits because legislation requires the Trustees to use their discretion to allocate the benefit between your dependants and your nominated beneficiaries. Dependants are defined in legislation. The Trustees must consider the extent of their dependency, when allocating benefits. Dependants always include your spouse(s) and all your children, irrespective of their age and including those adopted, from previous marriages or born out of wedlock. Any other person who is financially dependent on you, such as an elderly parent, a family member, a grandchild, a friend or a divorced spouse to whom you are paying maintenance, also qualifies as your dependant. If you nominate that payment must not be made directly to a beneficiary but to a trustee of a trust, the fund will only pay benefits to that trust if the trust is only for the benefit of your beneficiaries. It is important to make and keep your nominations up-to-date and to notify the fund of any special factors you would like the Trustees to be aware of. To make or change your nomination you must complete and sign a Beneficiary Nomination and Change form. This form should be received by the fund while you are still alive, as the fund will not accept a beneficiary nomination form after your death.

Nominate beneficiaries. You, but not persons acting on your behalf, may nominate beneficiaries to receive the benefit on your death before retirement. Your nomination applies to your benefit (i.e. all your product accounts) and only natural persons may be nominated. Your nomination does not guarantee that your beneficiaries will receive any death benefits because legislation requires the Trustees to use their discretion to allocate the benefit between your dependants and your nominated beneficiaries. Dependants are defined in legislation. The Trustees must consider the extent of their dependency, when allocating benefits. Dependants always include your spouse(s) and all your children, irrespective of their age and including those adopted, from previous marriages or born out of wedlock. Any other person who is financially dependent on you, such as an elderly parent, a family member, a grandchild, a friend or a divorced spouse to whom you are paying maintenance, also qualifies as your dependant. If you nominate that payment must not be made directly to a beneficiary but to a trustee of a trust, the fund will only pay benefits to that trust if the trust is only for the benefit of your beneficiaries. It is important to make and keep your nominations up-to-date and to notify the fund of any special factors you would like the Trustees to be aware of. To make or change your nomination you must complete and sign (electronically or otherwise if required) a Beneficiary Nomination and Change form. This form should be received by the fund while you are still alive, as the fund will not accept a beneficiary nomination form after your death.

Nominate beneficiaries. You, but not persons acting on your behalf, You may nominate beneficiaries to receive the benefit on your death before retirement. Your nomination applies to your benefit (i.e. all your product accounts) and only Only natural persons may be nominated. Your nomination does not guarantee that your beneficiaries will receive any death benefits because legislation requires the Trustees to use their discretion to allocate the benefit between your dependants and your nominated beneficiaries. Dependants are defined in legislation. The Trustees must consider the extent of their dependency, when allocating benefits. Dependants always include your spouse(s) and all your children, irrespective of their age and including those adopted, from previous marriages or born out of wedlock. Any other person who is financially dependent on you, such as an elderly parent, a family member, a grandchild, a friend or a divorced spouse to whom you are paying maintenance, also qualifies as your dependant. If you nominate that payment must not be made directly to a beneficiary but to a trustee of a trust, the fund will only pay benefits to that trust if the trust is only for the benefit of your beneficiaries. It is important to make and keep your nominations up-to-date and to notify the fund of any special factors of which you would like the Trustees to be aware ofaware. To make or change your nomination you must complete and sign a Beneficiary Nomination and Change beneficiary change form. This form should be received by the fund while you are still alive, as the fund will not accept a beneficiary nomination change form after your death.