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August 2026

WELCOME TO OUR Super Newsletter

Don’t Leave Your Super to Chance — Review Your Death Benefit Nomination Today

Why Did the Court Reach This Outcome?

A recent Federal Court decision serves as an important reminder that, without proper planning, the ultimate distribution of your superannuation benefits may not be decided by you.

In reaching a decision, trustees may consider a range of factors, including:

For many Australians, superannuation is one of their largest assets. However, unlike assets held personally, superannuation does not automatically form part of your estate and may not be distributed in accordance with your Will.

• The nature of family relationships;

A Recent Court Case In Radanov v Australian Financial Complaints Authority [2026] FCA 929, the Federal Court considered the distribution of a deceased member’s superannuation death benefit of approximately $349,000. The member was survived by her de facto partner and three adult children from a previous relationship. As no binding death benefit nomination (BDBN) was in place, the trustee was required to decide how the death benefit should be distributed. The trustee initially decided to pay the entire benefit to the member’s de facto partner. One of the children subsequently lodged a complaint with the Australian Financial Complaints Authority (AFCA), which reviewed the decision and determined that a more appropriate outcome was to divide the benefit equally between the partner and the three children. The de facto partner appealed the decision to the Federal Court; however, the appeal was unsuccessful and AFCA’s determination was upheld.

The case highlights the broad discretion that trustees may have when determining how a death benefit should be paid where no valid binding nomination exists.

• Financial dependency;

• The wishes of the deceased member; • The circumstances and needs of potential beneficiaries; and • Any perceived moral obligations to spouses, partners or children. Importantly, financial dependency alone is not necessarily the deciding factor, nor is there an automatic entitlement for a spouse or partner to receive the entire benefit. The Real Lesson: Don’t Leave It to Chance While the court case involved a relatively modest superannuation balance, the broader lesson is relevant to anyone with superannuation entitlements. Without a valid binding death benefit nomination, the trustee of your superannuation fund may exercise their discretion in deciding who receives your death benefits and in what proportions. As this case demonstrates, the outcome may not necessarily align with your intentions. For members of large retail or industry superannuation funds (including Super Wraps), this decision is typically

made by an independent trustee who is unlikely to have met you or your family. Their role is to determine an outcome they consider appropriate based on the circumstances at the time of your death. For SMSF members, the position can be even more complex. Following the death of a member, control of the fund may pass to surviving trustees or directors, who may also be potential beneficiaries of the fund. This can create uncertainty and increase the likelihood of disputes if appropriate succession and estate planning arrangements have not been established. A properly prepared and up-to-date binding death benefit nomination can help remove this uncertainty by clearly documenting who should receive your superannuation benefits and in what proportions. Additional Considerations for SMSF Members A BDBN is only one part of effective SMSF succession planning. Depending on your circumstances, consideration should also be given to: • Who will control the SMSF following your death; • Whether your trust deed supports your intended death benefit arrangements; • The interaction between your SMSF, Will and Enduring Power of Attorney; and • Whether your estate planning documents remain appropriate following changes to your family circumstances.

How We Can Help Ask yourself one simple question: if something happened to you tomorrow, are you confident your superannuation would be distributed exactly as you intend? If you’re unsure whether your current death benefit nominations remain valid, or whether your SMSF succession arrangements are appropriate, we encourage you to contact our office. A review now may help provide certainty for your family, ensure your wishes are carried out, and reduce the risk of costly disputes in the future.

Beware the Rise of “Pump and Dump” Investment Scams ASIC recently warned of a surge in sophisticated “pump and dump” investment scams targeting Australian investors, particularly those approaching retirement. These scams often begin with social media advertisements featuring fake endorsements from wellknown financial commentators, celebrities or financial institutions. Investors are then invited to join WhatsApp or Telegram groups where they receive “hot stock tips” and are encouraged to buy particular shares. The scam works by artificially driving up the share price as more people buy in. Once the price rises, the scammers sell their holdings, causing the share price to fall sharply, leaving investors with shareholdings of little worth and significant losses. Warning Signs

Without careful planning, disputes regarding both control of the SMSF and the payment of death benefits can arise at a time when families are already dealing with significant emotional and financial pressures.

• Unsolicited investment tips received through social media or messaging apps.

Who Will Receive Your Super When You’re Gone?

• Pressure to act quickly or keep the opportunity confidential.

Many assume that their Will determines who receives their superannuation benefits. In many cases, this is not correct. With superannuation often representing one of a family’s largest assets, we recommend reviewing your arrangements regularly, particularly if you have: • Married, separated or divorced; • Entered a new relationship; • Children from a previous relationship; • Adult children who are now financially independent; • Established an SMSF; or • Experienced a significant change in your assets or financial circumstances.

• Claims of guaranteed or unusually high returns.

• Recommendations based on celebrity endorsements or “expert” investment groups. How to Protect Yourself If you receive investment recommendations through WhatsApp, Messenger, Telegram or similar platforms, assume it may be a scam until proven otherwise. Always conduct your own research and seek professional advice before investing. ASIC also reminds investors that anyone providing personal financial advice in Australia should hold the appropriate licence and provide a written advice document outlining the investment recommendations and how this addresses your personal needs and objectives. As investment scams become increasingly sophisticated, taking a moment to verify the source and legitimacy of an opportunity could save you from a costly mistake.

Peter Camenzuli

We’re ready to help you thrive

Partner

Since day one we’ve been helping businesses, families and individuals intelligently frame their goals and make the most of their potential.

p +61 7 3222 8444 e pcamenzuli@pitcherpartners.com.au

Tracey Norris Partner p +61 7 3222 8444 e tnorris@pitcherpartners.com.au

Rebecca Nipperess Director p +61 7 3222 8444 e rnipperess@pitcherpartners.com.au

Jess Donsky Manager

Today, we’re one of the largest accounting, audit and business advisory firms in Australia. We work with middle market businesses, from family-run companies to renowned industry leaders and iconic brands. And help families and individuals manage their wealth across generations. If you’ve got ambition, we’re the team you want on your side.

Local knowledge, national footprint Pitcher Partners is a national association of six independent accounting, audit and business advisory practices. You’ll find our firms in Adelaide, Brisbane, Melbourne, Newcastle and Hunter, Perth and Sydney. Each firm has a unique character, with a strong connection to the local community. Supported by our combined resources, we deliver Australia’s most personalised and responsive assurance and advisory services.

p +61 7 3222 8444 e jdonsky@pitcherpartners.com.au

And if you’re thinking beyond the border, we can support your global operations and ambitions through the Baker Tilly International network.

Jo Holland

We’ll always make it personal

Manager p +61 7 3222 8444 e jholland@pitcherpartners.com.au

At the heart of Pitcher Partners is the idea that business is never just business. We’re known for the dedication we give to building great relationships, and it’s been that way from the start. People first. Everything we do is grounded in communication and collaboration. We’re here for that frank, refreshing and always informed discussion that leads to new ideas and better decisions. And we’re here for you. Whatever your goals, we can get there together. Pitcher Partners. Making business personal.

Pitcher Partners is an association of independent firms. An Independent Queensland Partnership ABN 84 797 724 539. Liability limited by a scheme approved under Professional Standards Legislation. Pitcher Partners is a member of the global network of Baker Tilly International Limited, the members of which are separate and independent legal entities.

pitcher.com.au Super Newsletter August 2026