our services
Defence Services
APEX Financial work with a significant number of defence personnel and are frequently engaged to assist those discharging from the defence force whether administratively or medically. Our time critical review process and assessment of your needs can positively impact your financial position. This is not only the case in retirement or upon accessing funds but in our ability to assist you to access any generous schemes for which you are eligible during service with the Defence Force.
Superannuation
Superannuation schemes have changed significantly over the years meaning the plan you may be under could vary drastically to that of a colleague. Superannuation plans which have been offered under the Commonwealth Superannuation Corporation (CSC) include: The Defence Force Retirement and Death Benefit Scheme (DFRDB), Military Superannuation and Benefits Scheme (MSBS), and the ADF Super scheme (ADF Super). Some of these schemes offer generous incentives for further contributions which can alter a retirement benefit outcome drastically.
Special Rate Disability Pension (SRDP) or Incapacity Payments (IP)
Another decision which may be faced by injured veterans being supported by the Department of Veteran’s Affairs is choosing between a Special rate Disability Pension (SRDP) or Incapacity payments. This is a once off election which should not be taken lightly as there are other factors to consider such as age, tax consequences and how these payments interact with other possible payments of Invalidity Service Pension (ISP) and Superannuation payments. Some of these payments offset one another and are means tested dependant on your assets, liabilities, and other household income. It is important when making this decision you seek best practice and industry-led financial advice as once you have made a decision, it is irreversible.
ADF Transition Financial Advice
Transitioning from ADF service comes with several unique financial challenges and hurdles. That’s why the ADF Transition Program will provide limited funding towards receiving financial advice for ADF members who are about to or have transitioned within the past 24 months.
With years of experience assisting veterans with their finances, APEX is proud to provide financial planning services specific to supporting ADF members as they go through this stressful time. Superannuation, debt management, personal insurance, estate planning and budgeting are just some of the many topics that veterans can expect to be educated on during our meetings. No matter where in Australia they are serving, this knowledge enables veterans to move into the next phase of their life, confident that they are making the best financial decisions for them and their family.
Contact us for a quote that you can forward through to your Transition Coach along with your AC853-3 Defence Force Transition Program Application.
Permanent Impairment (PI)
ADF Members who have sustained injuries and illnesses due to their service may be eligible to receive financial compensation by way of Permanent Impairment payments from DVA. These compensation payments are calculated as lifetime weekly payments and in some cases can be taken as a lump sum. Due to the lifelong impact of the payment decision and their interaction with many other forms of government assistance, it is highly recommended that eligible veterans receive personal financial advice prior to electing to receive the payment. In some cases, DVA will provide funding towards this advice which will be detailed in your determination letter.
Apex specializes in working one-on-one with the veterans to assess the value of the compensation offer (upfront, ongoing and the interaction and effects on any other benefits) and make recommendations on how best to receive it in order to meet your financial and life goals.
Tailoring a solution to your personal circumstances
These are decisions that need to be tailored to your personal circumstances. At APEX Financial Services Group we take the time to understand your needs and assess your situation holistically. We can consult with you; lead and inform decisions; manage; and, administer the process of securing maximum value for you. APEX Financial are motivated to help, and the maze of information concerning Defence Force Superannuation which can be daunting and frustratingly difficult to unpack. In delegating this to us we will give transparency in our charging structure up-front, demonstrating the benefit of our guidance and support prior to the engagement of our services.
We are here to help when circumstances change
Situations differ and current circumstances change, perhaps we know that more than most!
As such, we are happy to directly bill the Department of Veteran Affairs for any financial planning benefits, if they are available to you, removing any of your worry about initial costs related to DVA decisions.
