Superannuation Splitting

"Superannuation is treated as property under the Family Law Act 1975 but it differs from other types of property because it is held in a trust.

Superannuation splitting laws allow superannuation to be divided when a relationship breaks down."

The legal framework

"Superannuation can be split either by:

an order of the Federal Circuit and Family Court of Australia (or Family Court of Western Australia for married couples in Western Australia)

or

a superannuation agreement (a financial agreement that deals with a superannuation interest).

Part VIIIB of the Family Law Act 1975- external site gives a court the power to deal with superannuation interests of spouses (including de facto spouses).

It also:

-provides the framework for a court to make orders to distribute superannuation interests of the parties

-covers superannuation agreements.

The Family Law (Superannuation) Regulations 2001- external site set out:

• the methods of valuing superannuation interests
• the way in which the payment split is to be put into effect
• the information that the trustees have to provide."

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