Q: If a fund has two members (both in accumulation) and one dies, can the surviving spouse receive the deceased spouse’s super by a death benefit pension income stream?
A: I don’t want to get too technical here but there are some phrases and terminology we need to be aware of. The first thing we need to be aware of is what’s called ‘preservation‘. When we pass away, our superannuation becomes ‘unrestricted non-preserved’. It means you can access the money from the fund without restriction. So, it’s unrestricted non-preserved.
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