Testimonials


I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC


Super Facts and Tips

Other Components to Military Super Benefits

Limits to Military Super Benefits

If you are a long standing member of the military super, your benefit may be subject to what's called "Maximum Benefit Limits" or MBLs. These are limits to the contributions payable to your military superannuation benefit.

Final Benefit on Retirement

You can choose between retirements how you take your last employer benefit. This can be taken as a lump sum or an ongoing annual pension. For members of military super, you can take your benefit as a lump sum if you permanently retire from the workforce age 60 or over. But you may also be able to access some of your benefits at age 55 if you decide to take it as a pension.

If you do take this option, at least, half of the lump sum must be used to pay for your venture. The pension is calculated using conversion factors. These numbers will change depending on your age.

Let's take the example of Lt. Paul who is 55. He has a military superannuation employer benefit of $450,000. His conversion factor is 12. So his pension is calculated by dividing $450,000 by 12 which gives him a pension of $37,500. For both schemes, if you choose to take the some or all of your benefit as a lump sum, you can't change your mind after your initial decision.

You should also be aware that your pension amounts aren't fixed. They are indexed every six months according to the relevant scheme rules.

Transitioning from Full-Time ADF Service

If you leave the ADF before retirement, you may still be eligible for a pension depending on how long you've served. In the case of Military Super, if you choose to transition from ADF service before you are eligible to claim your benefits, you won't be able to access your employer benefit. The funded and unfunded parts of your benefit will continue to grow separately.

The funded amount will occur according to the funded investment performance while the unfunded amount will come with the consumer price index. Depending on your super fund, you can elect to get a lifetime pension, or you can take some of this pension as a lump sum if you have served for at least 20 years.

If not one of the options above applies, you can be entitled to a resignation benefit. For more information on the components of super benefits, read through our articles at www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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