Reversionary Pensions

A reversionary pension is a retirement income stream that automatically reverts to a beneficiary should the original pension recipient pass away.

In the event that the original pension recipient passes away, the remaining pension balance is not paid to the deceased’s Estate.

The deceased’s Will or any superannuation death benefit nominations are irrelevant when determining who shall receive the remaining pension balance when the original pension owner dies.

Instead, a reversionary pension will automatically revert to the person nominated as the reversionary beneficiary of that specific income stream.

Should a person have multiple pension income streams, it is possible to have different beneficiaries for each pension.