Superannuation Splitting
Superannuation and Your Property Settlement
Superannuation is often one of the largest assets a couple holds, and for many people it is worth more than everything else apart from the family home. How it is divided after a separation has a direct effect on your retirement, which is why it is worth sorting out properly rather than leaving until last.
If you need advice on dividing superannuation after separation or divorce, contact South Coast Family Law Group today on 02 4202 6644.
Superannuation, or “super”, is a retirement savings fund built up over your working life to support you later on. In Family Law it is treated as property, so it forms part of the pool of assets to be divided when a relationship ends. Because super usually cannot be accessed until retirement, it is dealt with differently from a bank account or a car, and understanding that difference matters before you agree to anything.
Superannuation is dealt with as part of the property settlement process when a marriage or de facto relationship ends. The Family Law Act 1975 sets out how super is treated in Australia, and a division can be arranged in more than one way:
A superannuation split does not turn super into cash. In almost every case the money stays in the receiving person’s super fund and remains subject to the usual rules about when it can be accessed.
At South Coast Family Law Group, our Shellharbour Family Lawyers give clear advice on how superannuation fits into your wider property settlement. Knowing your rights and obligations is essential before any agreement is reached, and we advise and act for you throughout, helping you to:
Our team has extensive experience across Family Law matters, including:
We are committed to making sure our clients are treated fairly and understand what is happening at every stage.
Yes, superannuation is considered part of the asset pool during property settlements. It is vital to accurately assess its value to achieve a fair division.
The value of superannuation can be determined through statements from super funds or by consulting with financial experts. Our team can assist in this assessment.
If an agreement cannot be reached, legal action may be necessary. Our experienced Family Law solicitors can guide you through the dispute resolution process.