Benefit choices

Your preserved benefit choices

Read our Preserved benefits summary guide [PDF 166 KB] to better understand your potential choices for withdrawing your preserved benefit.

Most preserved benefit choices are determined by your age:

Please also read our Preserved benefits summary guide [PDF 166 KB].

To withdraw your preserved benefit, please complete the relevant benefit application form. Your form will outline your eligibility conditions and provide instructions. 

I’m under age 55

Your member benefit

Options for your preserved member benefit components are:

  • Your pre 1 July 1999 component (if any) – take it as a cash lump sum, roll it over to another fund, or preserve it in MilitarySuper to take at a later date.
  • Your post 30 June 1999 component – preserve it in MilitarySuper or roll it over to another fund. If you choose to preserve any of this benefit, you must withdraw the entire amount later or withdraw partial amounts in multiples of $10,000 with no less than six months between withdrawals.


Your employer benefit

You have no choice for your employer benefit; it must be preserved until you turn age 55. It can only be paid out limited circumstances such as severe financial hardship.

 

 

I’m age 55 or older and reached my preservation age

Your member benefit

Options for your preserved member benefit components are:

  • Your pre 1 July 1999 component  – take it as a cash lump sum, roll it over to another fund, or preserve it in MilitarySuper to be withdrawn at a later date.
  • Your post 30 June 1999 component – preserve it in MilitarySuper or roll it over to another fund. If you choose to preserve any of this benefit, you must withdraw the entire amount later or withdraw partial amounts in multiples of $10,000 with no less than six months between withdrawals.


Your employer benefit

If you have reached your preservation age, you can:

  • take it all as a CPI indexed pension
  • take 50% or more as a pension and preserve your balance if any in MilitarySuper
  • take 50% or more as a pension and roll over your balance if any
  • roll it out to another fund.

Any accrued surcharge debt must be paid before you take your employer benefit.

You cannot take any of your benefit as a lump sum until you:

  • turn age 60 and cease employment or
  • reach your preservation age and retire from the workforce.

 

 

I’m age 65 or older

Your preserved benefit must be paid out of MilitarySuper by age 65. Please note that at this time your member benefit and employer benefit (less any accrued surcharge debt) can be paid as a lump sum amount only.

 

What if I continue working at 65?

You must still receive your entire employer benefit (less any accrued surcharge debt) as a CPI indexed pension. If you wish for your member benefit to also be paid as a pension, you must select an eligible rollover fund and arrange that through this fund.