When you and your former partner have very different superannuation balances after separating, you may want to consider obtaining ‘superannuation splitting orders’. These orders allow you to request the Court to transfer a specific amount from one person’s superannuation fund to the other person’s fund.
You can do this by mutual agreement and by filing an Application for Consent Orders with the Federal Circuit and Family Court of Australia. Before asking the Court to make a superannuation splitting order, you must first obtain approval for the order from the fund that will be transferring the money. This is known as ‘procedural fairness’.
The superannuation fund is required to be given notice of the proposed order and an opportunity to object to it if necessary, as they will be bound by the court order. In general, super funds do not have reasons to object to proposed superannuation splitting orders and will typically grant approval, provided there are sufficient funds in the account to facilitate the split. However, super funds can be very specific about the wording of the superannuation splitting orders, so it is crucial that the orders be drafted by a family law solicitor familiar with these requirements.
The Court will not make orders to split superannuation unless there is evidence that the super fund has approved the proposed orders or has been given 28 days to respond and has not done so. It’s important to note that you cannot directly access the funds resulting from a superannuation split. Brisbane, Queensland
The funds must be deposited into your own superannuation fund, or a new fund set up in your name with the fund where the money is coming from.
