No, you don’t is the simple answer. A portion of your super (employer benefit) will remain with Military Superannuation and Benefits Scheme (MSBS) until at least age 55 (from age 55 you have the option to draw down on this amount as a pension). The other portion of your super (member and ancillary) can be rolled over into any registered superannuation fund of your choice.
A redraw facility allows you to make extra repayments towards your home loan in addition to your minimum repayments.
When looking at mortgage interest rates today, our parents compare and boast a high 17% rate when they bought a house.
During COVID a lot of Australian’s took advantage of the low interest rates on home loans, fixing their rate for a period of time. With those fixed home loans now reaching the end of their term, we are being forced to meet the current high interest rates which are substantially increasing the price of home loan repayments.
We are happy to announce that due to the positive feedback following our presentation in February regarding Understanding Your DVA and CSC Entitlements During Transition, The Oasis Townsville have kindly invited us back to deliver this presentation once again.
The ATO recently created a comparison tool to help members understand how their superannuation fund is performing. You can access this tool by clicking here. As with any comparison tool, it does not take into account your personal circumstances, future goals or risk tolerance.
We would firstly like to thank The Oasis Townsville for hosting Evergreen’s presentation last night regarding DVA & CSC financial entitlements during transition and allowing us to present to a wider veteran and support network audience.
We’re pleased to announce that Roshan Pandalai and Yannick Fitzsimmons will be hosting a presentation at The Oasis Townsville (Hut 6) on Tuesday 28th February from 4:30pm – 5:30pm, to explain important details about DVA and CSC financial entitlements for transitioning veterans and their families.
At Evergreen, we use a program called Adobe Sign which allows our clients to sign forms digitally, helping to reduce our paper usage and in turn helping our environment. In this video, we outline how to navigate completing a form via Adobe Sign on a desktop computer.
Veterans ask us often about DVA fees and how it all works. We have put together a brief explanation for your convenience.
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