Learn more about how your superannuation works and how you can make the most of your superannuation entitlements. Here you will find some introductory information, including videos on the three ADF superannuation schemes DFRDB, MSBS (or MilitarySuper) and the ADF superannuation arrangement which came into effect from 1 July 2016.
Defence Force Retirement and Death Benefits Scheme or DFRDB was established in 1973 and closed in 1991 when it was replaced by MSBS. DFRDB contributing members were given the option to transfer into MSBS up to 1 October 1992. DFRDB is called a ‘hybrid scheme’ as it has a defined benefit component and a contributory component. It also offers death and invalidity cover to its members. The trustee of, and authority on, DFRDB (and MSBS, ADF Super and ADF Cover) is the Commonwealth Superannuation Corporation (CSC).
The Military Superannuation Benefits Scheme (MSBS) also referred to as MilitarySuper opened on 1 October 1991 replacing DFRDB. MSBS was closed to new members from 1 July 2016 from which time all new full time ADF members were obliged to join the new ADF Superannuation Arrangement. MSBS is, like DFRDB, a hybrid scheme with a defined benefit and contribution component, as well as death and invalidity cover.
From 1 July 2016 all new members of the ADF joined the new ADF Superannuation Arrangement (Arrangement). The Arrangement comprises:
Importantly the Arrangement does not offer a hybrid superannuation scheme like DFRDB or MSBS; rather it provides employer contributions to an accumulation style fund of the member’s choice.
Commencing 1 July 2016, there is a new superannuation arrangement for the ADF. It’s mandatory for new recruits and voluntary for existing members of the Military Superannuation Benefits Scheme (MSBS). Watch this video to learn more about how the arrangement works and how it may affect you.
Note: If you want to learn more about the military super schemes in place before 1 July 2016 – MSBS and the Defence Force Retirement and Death Benefits Scheme (DFRDB) – watch the Military Superannuation Schemes video.