Superannuation

Superannuation can be a safe, low-cost and tax-effective way of saving for retirement if you make the most of it.

The ADF Financial Council has an excellent online module which explains superannuation.

Next Step

ADF Financial Consumer Council education module on Superannuation
Visit the Getting the Most from your Super page at www.adfconsumer.gov.au

Partner Super

Defence Partners can apply for financial assistance under the DCO Partner Employment and Education Program (PEEP) to cover the costs associated with setting up a superannuation fund such as financial planning advice, so partners are not disadvantaged by being unable to contribute towards long-term superannuation.

Member Super

Military Super is the common name for the Military Superannuation and Benefits Scheme (MSBS). All new members of the ADF must become members of Military Super.

Most members will leave the ADF before they retire. Members may leave your member benefit in Military Super or roll it over to another regulated superannuation fund. Their member benefit and fund earnings which were in the fund before 1 July 1999 may be taken as a lump sum when the member leaves the ADF.

Prior to 1991, ADF members joined the Defence Force Retirement & Death Benefits Scheme. The Scheme provides benefits for Members who entered the Defence Force between 1 October 1972 and 30 September 1991.

In 1990, following a review of the DFRDB Scheme, the Government decided to introduce MSBS. DFRDB closed to new Members from 30 September 1991 and DFRDB members were given a choice between remaining in DFRDB or transferring to MSBS. From 1 October 1991 all new entrants to the Defence Force automatically became members of MSBS.

Next Step

Military Super
Visit www.militarysuper.gov.au

Defence Force Retirement & Death Benefits Scheme.
Visit www.dfrdb.gov.au

Super Guru
The Australian Superannuation Fund Association consumer site.
Visit www.superguru.com.au