Defence Force Personnel

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 include: The Defence Force Retirement Defined Benefit(DFRDB), Military Super Benefits Scheme (MSBS), the Commonwealth Superannuation Corporation (CSC); and, Australian Defence Force Superannuation (ADF). Some of these schemes offer generous incentives for further contributions which can alter a retirement benefit outcome drastically.  

"I have seen first hand Rob’s commitment to firstly my situation and the financial implications that the DVA can throw at Veterans.
He is very efficient, extremely intelligent, and, knows all the right people in the right areas.
He kept me informed all the way through and I took his recommendation and could not be happier"

Paul Hibbert - ADF Veteran

Much like ‘stage of life’ financial planning whether you are currently in service with the Defence Force or transitioning to life away from the military, the timing of decision-making is of paramount importance. 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.

 

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. This transition involves a number of choices, for example, how the permanent impairment payment will be taken (lump sum, regular income stream, or, a combination of both).

 

Another decision which may be faced is in choosing between a Special rate disability pension (SRDP) or an Incapacity payment. This is another decision 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 incomes. 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.

 

These are decisions that need to be tailored to your personal circumstances. At APEX 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.

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.  

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