Royal Commission into the Banking, Superannuation and Financial Services Industry Round 4 Hearings – Interactions of Aboriginal and Torres Strait Islander Australians in Regional and Remote Communities with Financial Services Entities
Submission to: Royal Commission into the Banking, Superannuation and Financial Services Industry
Submission to: Treasury Submission recommends that kinship be included as a specific category in legislation as an option for a binding death benefit nomination. This area of superannuation is complex, and binding death benefit nominations can be ruled invalid for a number of reasons. People of Aboriginal and Torres Strait Islander descent are very clear about their kinship relationships but are not able to choose their appropriate beneficiaries because such relationships are not legally recognised.