- Australia's #1 Legal Community is a community of 10,000+ Australians, just like you, helping each other.
Ask a question, respond to a question and better understand the law today!
Join us, it only takes a minute:

WA Military Superannuation (MSBS) Can't Rollover to Private Super Fund?

Discussion in 'Superannuation Law Forum' started by australiancitizen, 30 June 2014.

Find a Lawyer Form
Find a Lawyer Form
Find a Lawyer Form
  1. australiancitizen

    30 June 2014
    Likes Received:
    Hi. I'm with a military superannuation fund MSBS, which I'm told cant be rolled over into a super fund of my choice. I believe the money in my MSBS fund can do better in a 'proper' super fund.

    Surely there should be legal grounds or arguement for defence MSBS members to be able to roll over their MSBS funds into a better performing fund? Surely this would be better for the government financially when defence members reach retirement age?

    Please see below e-mail from MSBS.

    Dear Mr [Name Redacted]
    Thank you for your email of 24 June 2014, regarding rolling over your preserved benefits from the Military Superannuation and Benefits Scheme (MSBS) to an external superannuation fund.
    MSBS is a combination of an accumulation and a defined benefit scheme, with a Member and Ancillary Benefit growing on an accumulation basis and the Employer Benefit being calculated as a defined benefit based on a member’s final average salary and years of service.
    The MSBS rules do not make provision for the Employer Benefit to be rolled over into another fund until you reach age 55.
    The employer contribution of an MSBS benefit has two components, a funded portion and an unfunded portion. The funded portion of the employer benefit grows in line with the Fund’s default investment strategy (Growth), while the unfunded portion is increased annually by the Consumer Price Index (CPI) to maintain its current value.
    If you require further assistance please contact the MSBS Customer Information Centre on 1300 006 727 or reply via return e-mail.
    More Information on preserved benefits can be found on the website at
    Yours sincerely

    Customer Information Representative
    Military Super AFS Licence No: 238395
  2. John R

    John R Well-Known Member

    14 April 2014
    Likes Received:
    Hi australiancitizen,
    First, thank you for your service to your fellow Australians.
    1. Are you still a full-time member of the Australian Defence Force (ADF)? I assume that you are because of the correspondence provided above that references the "Employer Benefit" portion of your superannuation.
    2. If you are no longer a full-time member of the ADF, have you reviewed the "About to leave the ADF" Fact sheet and the Military Super Product Disclosure Statement (PDS) to attempt to identify whether you are eligible for a rollover of your superannuation?
    Hope this helps. Please keep us updated with your progress.

Share This Page