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Family Law and your super
Last Updated : 09 Dec 2008
Current family law legislation allows divorcing couples to split their superannuation balances between them. This means that divorcing couples no longer have to use other assets to help finalise property settlements involving superannuation.
Superannuation funds like AGEST Super are required to act on a Court order to split a super benefit into two, in the proportions outlined in the order. This means that we will split your accumulated account into two separate accounts - one for the member and one for the (former) spouse. The spouse is able to leave their benefit with us or transfer it elsewhere.
Alternatively we may be ordered to 'flag' a benefit for splitting at a later date.
There are
no additional fees payable for any service we provide to you in relation to Family Law legislation. That is, our low simple administration fee structure covers family law matters as well.
If you are affected by this legislation, we suggest that you seek legal and/or financial advice.
If this legislation is relevant to you and you wish to learn more about or it or if you wish to apply for information from us in respect of your or your spouse's account, then download our Family Law Guide.
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