What is an anti-detriment payment?
An anti-detriment payment is an additional payment made to certain beneficiaries of a deceased member, as part of the death benefit claim.
The anti-detriment payment broadly represents a refund of the 15% contributions tax paid by the deceased member throughout their life.
Previously surviving spouses, children and other dependents could receive an additional payment, on top of the member’s account balance which after payment would put them in the same position as if the 15% contributions tax had not been deducted.
From 1 July 2017, the Government will no longer allow funds to claim this deduction and pay anti-detriment benefits.
If a person has died and you need assistance in claiming any anti-detriment payments that may be available prior to the abolition of this benefit, please contact our Estate Group on (03) 8600 8885.
Note: This update is a guide only and is not intended to constitute legal advice.