Australian Defence Force (ADF) Transition & Retirement Advice

Are you searching for the best Financial Adviser for your upcoming transition from the Australian Defence Force (ADF)?

We have been trusted advisers to hundreds of ADF personnel seeking guidance around this transition. These personnel are often seeking advice on mid-life career changes or around retirement.

When you transition, you’ll need to make decisions about your superannuation. Generally, you can’t access your super unless you are retiring or have met your preservation age and have met a condition of release. For most people, this will be turning age 60 and leaving an employer.

However DFRDB members can access their pension on retirement or resignation, and MSBS members are eligible for a pension from age 55 after leaving full time service.

The benefits that you may receive and what you may do with your super will depend on the fund and your reason for leaving the service.

If you are moving on to civilian employment, you may decide to rollover your eligible benefits to another complying super fund. We will advise whether an industry super fund or a retail super fund are best for you based on their profits, investment choices, costs and your need for advice.

Personal insurance is another important consideration. ADF members have statutory death and invalidity cover through ADF Cover, MSBS or DFRDB which provides benefits to you or your family if you become ill, injured or pass away. You also have comprehensive compensation and rehabilitation cover.

This insurance cover will cease when you leave the ADF. If you wish to maintain cover after you leave the service, we will assist you to source personal insurance. It is important that policies are in place before your termination date. Death/life Insurance, total permanent disability (TPD) cover, and income protection should be considered.

If you open an industry or retail super fund you will have a basic level of death, TPD and income protection coverage within super. We will evaluate if you wish to increase your level of cover to suit your needs.

If you are moving onto Army Reserves, it is important to understand that most policies outside the ADF have war and war-like exclusions.

The Department of Veterans Affairs (DVA) has compensation and rehabilitation schemes for serving and former ADF members. They also provide support for transitioning ADF members. We can advise which benefits and entitlements that you may be able to access and assist you in attaining them.

If you are looking for a financial adviser it’s important to find someone you can trust to act in your best interests.

At CTWealth, we provide genuine ‘fee for service’ advice. This means we charge a fixed fee for the services we provide. Being privately owned and not aligned to any product provider, we able to ensure that our recommendations are always in your best interests.

We offer a complimentary and obligation-free 10 minute phone discussion to explore likely advice needs prior to committing to an initial appointment. Information discussed will be general advice only.