June edition - The Police Association Victoria

FINANCE
Superannuation and
relationship breakdowns
Will a relationship breakdown impact on your super?
As an ESSSuper ESSS Defined Benefit Fund member
you’re entitled to a great range of superannuation
benefits and services. But in the unfortunate event of a
relationship breakdown, do you know what will become
of your superannuation?
Since December 2002
superannuation can be split in the
same way as any asset in divorce
property settlements, meaning
that it can be divided by agreement
or court order.
This previously applied only to married
couples, however Commonwealth laws
that commenced on 1 March 2009 provides
for the division of assets (including
superannuation) for people in de facto (same
sex and opposite sex) relationships.
The split of a super entitlement can be
decided by binding financial agreement
between spouses or partners (with legal
representation), or by court order through
the family courts.
amount is created within your ESSS DB Fund
account. This debt will increase with interest
until the defined benefit becomes payable
to you. When a condition of release is met
(e.g. such as resignation or retirement), the
outstanding debt plus accrued interest will
be deducted from your benefit entitlement.
There is also provision for your ex-spouse to
make an application for information about
your superannuation entitlement in certain
circumstances. In these instances, your exspouse
will be required to complete a number
of forms and provide supporting documents
before any information will be released by
ESSSuper. You too may be entitled to request
superannuation information from your exspouse’s
super fund.
an ESSSuper Accumulation Plan account or
request a lump sum payment (if you meet
certain conditions).
We are here to help you through this difficult
time. If you would like more information
about family law matters relating to your
super, please call 1300 650 161 and ask
to speak to a Family Law Administrator.
You can also access family law related
superannuation forms, including helpful
information sheets and guides, from our
website www.esssuper.com.au.
Important information
> ESSSuper is the superannuation fund for current
and former Victorian emergency services employees,
public sector employees and their spouses.
> Before making a decision about an ESSSuper
product or service you should consider the Product
Disclosure Statement (PDS), available at www.
esssuper.com.au or by calling ESSSuper’s Member
Contact Centre, and the appropriateness of the
product to your personal objectives, financial
situation and needs. It may also be beneficial to seek
professional advice from a licensed financial planner
or adviser.
Once a payment is made to a former spouse
or partner in accordance with the terms of
an order or agreement, an equivalent debt
20 Protect Represent Support. www.tpav.org.au
If in the event of a relationship breakdown
you receive a super entitlement through
an asset settlement, you can transfer it to