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.
What should I do with my MSBS member contributions (super) when I transition from Defence?
The employer benefit portion of your super will have to remain in MSBS until you are at least 55 years old, however there is no requirement to keep your member contributions in MSBS after you transition.
In fact, you won’t be able to contribute any further to MSBS once you have transitioned. By not contributing to your super fund for the remainder of your working life, this could result in you missing out on substantial gains of growth over those years until retirement.
With a plethora of well performing super funds on offer, it would be a great strategic step for your retirement future (not to mention a few more dollars to help you put your feet up) to look at rolling your member contributions into a high performing and low-cost super fund.