What Should You Do With Your Military Super After Transition?

Picture this; you've just transitioned out of Defence and you've started a new job that is outside of the government services, or you've medically transitioned/discharged. You're hearing murmurs that the super amount that you have earnt and accrued in Military Super (MSBS) will have to remain there. Is this right? What can you do with this, or better yet, what should you do with it?

​If you are continuing in the workforce until retirement, you will want to continue contributing to your superannuation amount and have the ease of a consolidated fund. Once you transition from defence, you won't be able to further contribute to your MSBS account.

As good as MSBS is while you are in Defence, it is not as beneficial to you once you've transitioned out, however you're able to transfer your member contributions over into any other super fund which will help to consolidate your accounts and allow you to continue to add to your super amount. Your employer benefit portion will have to remain within your Military Super account until you turn at least 55 years old, at which point you'll have the option of drawing this down as a pension.

A financial adviser with a great understanding of both Military Super and other great performing super funds can help to steer you in the right direction regarding which option would be best for you, regardless if you have medically discharged or are continuing in the work force.