Flex­i­bil­ity move on part

Townsville Bulletin - - LIFESTYLE -

AUS­TRALIAN De­fence Force mem­bers will soon be able to work part- time, fol­low­ing the in­tro­duc­tion of a new mil­i­tary su­per­an­nu­a­tion scheme and ac­com­pa­ny­ing leg­is­la­tion this week.

The su­per­an­nu­a­tion scheme, to be known as ADF Su­per, will for the first time al­low ADF mem­bers to join the su­per­an­nu­a­tion fund of their choice.

They will also have ac­cess to a de­fault mil­i­tary su­per­an­nu­a­tion fund.

ADF Su­per fixes one of the long­est- run­ning griev­ances of the vet­eran and ex- ser­vice com­mu­nity – the lack of flex­i­bil­ity and porta­bil­ity of a mem­ber’s su­per­an­nu­a­tion ben­e­fit.

In recog­ni­tion of the unique na­ture of mil­i­tary ser­vice, ADF Su­per mem­bers will re­ceive an em­ployer con­tri­bu­tion rate of 16.4 per cent, re­gard­less of the su­per­an­nu­a­tion fund they choose.

This rate is higher than that of­fered to Aus­tralian public ser­vants ( 15.4 per cent) and sig­nif­i­cantly higher than the 9.5 per cent avail­able to the ma­jorit Aus­tralians through the sup an­nu­a­tion guar­an­tee.

ADF Su­per will ap­ply to A mem­bers who join on or a July 1, 2016.

Ad­di­tion­ally, mem­bers of cur­rent Mil­i­tary Su­peran ation and Ben­e­fits Sche ( MSBS) may choose to mov the new scheme or re­main in cur­rent scheme.

But they will not be co pelled to move to ADF Su­per

The MSBS will be closed new en­trants from July 1, 201

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