Superannuation, or super, is money saved during your working life to support you in retirement.
For veterans and families of veterans, super can be complex, especially when it is affected by ADF service, transition from Defence, medical discharge, or DVA payments.
Understanding how your super works can help you make informed decisions about your financial future.
This page explains the basics and where to go for more information.
On this page
- How super works for ADF members and veterans
- ADF Super
- When you leave the ADF
- Help to understand super
- Getting financial advice
How super works for ADF members and veterans
Most people who serve in the ADF are part of a Defence superannuation scheme managed by the Commonwealth Superannuation Corporation (CSC).
The scheme you are in depends on when you joined the ADF.
ADF superannuation schemes include:
- ADF Super – for ADF members who joined on or after 1 July 2016
- Military Superannuation and Benefits Scheme (MSBS) – for members who joined between 1 October 1991 and 30 June 2016
- Defence Force Retirement and Death Benefits scheme (DFRDB) – for members who joined before 1 October 1991
Each scheme has different rules about:
- how much is paid in
- how your benefits are worked out
- when and how you can access your super
- support paid if you become ill, injured or die
You can find more information about your scheme by contacting your superannuation company directly. The ADF Financial Services Consumer Centre have some useful information, videos and links on their website to support you to build a better understanding of how you can make your super work for you more effectively.
ADF Super
ADF Super is the current super scheme for new ADF members. It works in a similar way to many super funds outside Defence.
Under ADF Super:
- Defence contributes 16.4% of your ordinary time earnings to your super while you are serving
- your balance grows based on contributions and investment returns
- death and invalidity insurance is provided while you are serving, with options available after separation
In most cases, your ADF Super account stays with you when you leave the ADF.
When you leave the ADF
When you leave the ADF, you may have questions about what happens to your super.
- whether you can combine multiple super accounts
- how your super works with a civilian job
- what happens to insurance attached to your super
- how super works alongside DVA payments or pensions
Understanding your super is an important part of planning for life after service.
Help to understand super
MoneySmart is an Australian Government website run by ASIC. The MoneySmart Superannuation Guide explains how super works in plain English.
- how super is paid and invested
- combining super accounts
- choosing investment options
- when super can be accessed
Getting financial advice
Super decisions can affect your finances for years to come. It may help to get professional financial advice if you are:
- transitioning out of the ADF
- medically discharging
- making decisions about retirement income
- working out how your super fits with DVA payments or pensions
MoneySmart and the ADF Financial Services Consumer Centre websites have some really helpful information to assist you in choosing a financial advisor that is best suited to your needs. MoneySmart also explains how to choose a licensed financial adviser.
Assistance for ADF members seeking professional financial advice
For ADF members who require professional financial advice, up to $1,000 towards financial adviser fees to assist them with financial decisions.
Access to Financial Advice remains for up to 24 months post-transition in accordance with PACMAN Chapter 2, Part 2. Financial Advice cannot be used for routine tax, mortgage brokering, conveyancing or accounting services.
The chosen financial provider must hold an Australian Financial Services License to access this payment.
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