Poorest Australians Most at Risk of Losing Super Inheritance, Warns Clear Sky Financial

Millions risk losing super inheritance due to missing legal nominations, with low-income Aussies most vulnerable, warns Clear Sky Financial.

Clear Sky Financial advisers - making sure Aussie families don’t lose out on super inheritance due to missing paperwork or outdated nominations.

Millions risk losing super inheritance due to missing legal nominations, with low-income Aussies most vulnerable, warns Clear Sky Financial.

GOLD COAST, QUEENSLAND, AUSTRALIA, August 28, 2025 /EINPresswire.com/ -- Gold Coast, 27 August 2025 - Millions of ordinary Australians risk losing control over who inherits their superannuation, with new research showing only one in four have made a legally binding death benefit nomination.

Clear Sky Financial, a Gold Coast–based advice firm, says the problem hits lower-income Australians hardest, because super is often their only meaningful asset.

“Wealthier Australians usually have wills, trusts, and legal advice. But for many everyday Mums and Dads, super is the single biggest asset they’ll ever have and it’s at risk of being tied up in disputes when families can least afford it,” said Dominic O’Regan, Clear Sky Financial Founder and CEO.

Recent surveys show at least 36% of Australians have made no nomination at all, despite average balances of more than $100,000. At the same time, research by the University of Queensland has found fewer than half of Australians overall have a valid will, with the rate even lower amongst younger and lower-income households.

“Within our current client base, 95% of individuals who first engage with us, don’t have a binding nomination in place. Without one, super funds can ignore the deceased’s wishes and make their own call. Families are blindsided, and it’s often those with the least who suffer the longest delays,” O’Regan said.

Clear Sky says the process itself is part of the problem. Binding nominations still require hard copies, wet signatures, and two independent witnesses.

“For families with modest savings, those delays are not just inconvenient, they’re devastating. That money is often needed immediately to pay bills or even keep food on the table. It shouldn’t take a legal battle to access what a loved one clearly wanted to leave behind,” O’Regan said.

ASIC (Australian Securities & Investments Commission) has already put super funds on notice for delays and poor communication on death benefit claims. Clear Sky is calling for digital nominations and stronger education campaigns to make sure all Australians, not just the wealthy, can protect their families.

About Clear Sky Financial:

Clear Sky Financial is a licensed Australian financial advice firm based on the Gold Coast. The firm provides retirement planning, insurance, and investment advice to thousands of Australians, with a focus on accessibility, innovation, and community impact.

Media Team
Clear Sky Financial
media@clearskyfinancial.com.au
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