Superannuation becomes a splittable interest upon divorce or irreconcilable separation. Superannuation forms a part of the overall assets of a marriage or defacto relationship which can be divided in a property settlement. It is not mandatory for parties to split superannuation interests. The Family Law Act 1975 and Family Law Legislation (Superannuation) Act 2001 govern the division of assets following a relationship breakdown.
The Trustee will only give effect to a superannuation payment split where a Court Order or Financial Agreement meets the legislative requirements and the Trustee’s requirements.
Step 1: Requesting information from the Trustee
In order to have the required information to apply for a Court Order or execute a Financial Agreement, you will need the relevant information about the superannuation interest from the Trustee.
If you are an eligible person who may request information from the Trustee about a superannuation interest, you may request information by completing the Superannuation Information Request Form and Form 6 Declaration Form available from www.familycourt.gov.au.
Please send this completed form to: firstname.lastname@example.org.
Should you require any further information or direction in regards to the Trustees requirements in relation to the splitting of a superannuation please contact the Wealth Operations Claims Team on Phone: (02) 8275 3733 or their email above.
Step 2: Drafting and satisfying the Trustee’s Requirements
The Trustee has particular requirements in regards to wording and additional documentation which it requires to be included in either court orders or a financial agreement, in relation to the splitting of a superannuation interest. Please refer to the documents below and follow the guidelines which set out the requirements of the Trustee in relation to the manner in which you and your spouse decide to divide your assets.
Please note that these are the legal requirements of the Trustee in relation to the splitting of a superannuation interests and the Trustee will not legally be bound to the orders/financial agreement unless set out in the manner specifically set out by the Trustee.
1. When drafting, please adhere to the guidelines and the Trustee’s preferred wording. For your convenience, these are included in the guidelines below. If these are not adhered to, there may be a higher likelihood of objection.
2. For those applying for a Court Order, please follow these guidelines:
3.For those executing a Financial Agreement, please follow these guidelines:
4. Please send your documentation and draft wording for the Trustee’s consideration to the following address:
Address: Private & Confidential
Att: Life Legal - Family Law – 2FI045
Suncorp Portfolio Services Limited
GPO Box 1576
Sydney, NSW, 2001
5. Once the Trustee has reviewed the draft wording and documentation, we will provide a formal letter of acceptance or objection. Please note timeframe requirements below.
6. If objected, wording and additional documentation will need to be re-submitted for the Trustee’s further consideration.
7. If accepted, the Trustee will require a final, signed and sealed version of the Orders made on the same terms contained in the approved draft to be sent to the above address. The Trustee cannot accept these final orders by email.
Section 90MZD of the Family Law Act 1975 requires the Trustee to be afforded with procedural fairness. The Trustee is required to be given 28 days notice of any application or order in respect of a superannuation interest so that it is able to comment on whether it can implement and administer the court orders/financial agreement. The ‘28 days’ begins once the Trustee has received all the relevant documentation.
Please ensure that this timeframe is considered.
Should you require any further information or direction in regards to the Trustees requirements in relation to the splitting of a superannuation please contact us on Phone: (02) 8275 3733 Email: email@example.com