Superannuation is not ‘cash in the bank’, but it is commonly included in the property pool in family law matters. For many couples, it can be one of the largest assets — which makes it important to understand how it is treated.
Why super is treated differently
Super is generally preserved until a condition of release is met (for example, reaching preservation age and retiring). Because of that, division often happens through a “super split” rather than a cash payout.
What a super split usually means
A super split typically involves transferring part of one party’s super interest to the other party’s super fund. The details depend on the type of fund and the terms of the agreement or orders.
Common practical steps
- Obtain up-to-date super balances (and details of the fund type)
- Consider whether valuations are required (in some cases)
- Understand fees and timing for implementing a split
- Formalise arrangements properly (to reduce risk of future disputes)