Your employer benefit
Your employer benefit is calculated by applying a percentage based on your length of service to your final average salary (FAS) – as shown below:
Employer benefit growth table
|
Years of service |
% of your final salary |
|---|---|
|
Under 7 |
18% |
|
7 to 20 |
23% |
|
Over 20 |
28% |
This is the largest part of your benefit and costs you nothing; it is fully paid by the Australian Government. Investment returns do not affect this part of your benefit.
Keep in mind that investment choice is not available for your employer benefit; most of your employer benefit is funded by the Australian Government when you retire.
Your member benefit
It is determined by your:
- superannuation contributions including voluntary ancillary contributions and
- investment returns.
You can choose how you invest your member benefit. If you do not make a choice, your benefit will be invested in MilitarySuper’s default option, the Balanced Option.