DFRDB
Closed public sector scheme
DFRDB is a closed Defence pension scheme with benefits determined by salary and service rules.
Membership
The scheme serves eligible existing members and pensioners.
DFRDB vs Expand
Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Expand
Retail platform
Expand is a super and pension platform with Essential and Extra product tiers. Its value depends on the investment menu and services a member actually uses.
Membership
Use the Essential or Extra PDS and target market determination. The platform is commonly used with advice, and an application requires an investment choice; Essential allows a cash holding while a member decides on a longer-term strategy.
Compare fees and investment returns
Choose the actual investment pathway for each account. For lifecycle products, select the named stage relevant to you. No stage is selected automatically.
Choose an investment option to see the figures
The costs and returns belong to the selected product, option or lifecycle stage.
Source: APRA Comprehensive Product Performance Package 2026, published 28 August 2026. Fees reflect the reporting year to 30 June 2026, are net of tax, use standard arrangements and exclude member-activity fees. Dollar figures are rounded. They are not a current quote. Check the latest PDS for changes, insurance premiums and any separately charged advice.
Returns are annualised historical results. Different return bases, risk levels and periods cannot be treated as interchangeable. MySuper net returns use a $50,000 representative balance even when you change the fee balance. A lifecycle stage return does not track a person moving between stages. Missing figures mean not reported, not zero. Past returns do not predict future returns. Read our method and APRA's definitions.
How the products differ
| What to compare | DFRDB | Expand |
|---|---|---|
| Membership and access | The scheme serves eligible existing members and pensioners. Sources1 | Use the Essential or Extra PDS and target market determination. The platform is commonly used with advice, and an application requires an investment choice; Essential allows a cash holding while a member decides on a longer-term strategy. Sources2 |
| Accounts and products | Defence Forces Retirement and Death Benefits Scheme. DFRDB pension and scheme benefits Separate MilitarySuper ancillary account where eligible Sources1 | Expand Essential and Extra in IOOF Portfolio Service Superannuation Fund; not MLC MasterKey. Expand Essential Super and Pension Expand Extra Super and Pension Retirement Boost Sources1234567 |
| Insurance | Serving members have built-in death and invalidity protection. Sources1 | Expand advertises group and retail insurance options. The policy, underwriting and cost depend on the cover arranged; the platform's investment features do not establish that a member is insured. Sources1 |
| Retirement income | Service and super salary affect retirement pay. Eligible members can consider a pension and an optional lump-sum commutation under scheme rules. Sources1 | Both tiers have pension products. Retirement Boost adds a separate lifetime-income proposition with its own eligibility and access rules. It should be compared with other lifetime products rather than treated as an ordinary account-based pension. Sources125 |
| Comparing investment performance | Keep the pension and ancillary accumulation account separate. Sources1 | There is no single meaningful Expand investment return. Measure the chosen portfolio after all applicable costs. The performance test covers only eligible trustee-directed investments, so a result for one option does not describe every investment on the platform. State Essential versus Extra and the menu used. Keep option-specific performance-test outcomes attached to the relevant option IDs. Sources67 |
| Investment choices | This detail has not been verified for this profile. Check the current product documents. | Member-selected investments; not a single platform-wide MySuper default. Essential combines a menu of managed funds and model portfolios with Essential+, which adds selected ETFs and term deposits. Extra offers a much broader selection of managed funds, model portfolios and listed investments. Investments across menus can carry different administration charges. Sources1234 |
| Advice and support | This detail has not been verified for this profile. Check the current product documents. | An advised arrangement needs two assessments: whether the adviser service is useful and whether the platform is an appropriate way to implement it. Ask for the full ongoing cost and the consequences of ending the advice relationship. Sources1234567 |
| Fee details to check | This detail has not been verified for this profile. Check the current product documents. | Add platform administration, account charges, underlying investment fees, transaction or brokerage costs, insurance and any adviser fee. Essential+ has a higher administration rate on the first part of the balance than the ordinary Essential menu. A low fee quoted for one menu is not a price for every portfolio. Sources34 |
THE SUPERGURU VIEW
Our take on DFRDB
DFRDB belongs in an explanation of retirement entitlements. It does not belong in a league table of funds to switch into. The value of pension income and any commutation decision needs individual calculation.
Who this profile is for
- Current DFRDB members and pensioners reviewing entitlements.
What deserves a closer look
- Any investment menu applies to a separate ancillary account, not to the core DFRDB pension.
- A commutation changes the form of retirement benefits; compare its full effect before deciding.
Sources1
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE SUPERGURU VIEW
Our take on Expand
Expand makes most sense to investigate when a person needs its investment or retirement features and can explain why. A broad platform can be useful with a carefully chosen portfolio, but it also creates several layers of fees to compare. The product tier and menu selection should be visible in any price comparison.
Who might put it on their shortlist
- People using an adviser to implement a portfolio that needs a broad investment menu.
- Members comparing direct listed investments, managed portfolios and retirement features within one platform.
- Families checking whether available fee arrangements change the total cost.
What deserves a closer look
- Expand's 28 August 2026 notice says MLC MultiActive High Growth (MLC0397AU) and MLC MultiActive Geared (MLC0449AU) failed the 2026 performance test within the covered Expand products. Both remained open to new members because this was their first failure.
- That notice concerns specified investment options, not a failure of every Expand investment or the whole platform.
- Portfolio complexity, cash holdings, brokerage and advice fees can materially change the cost.
- Lifetime products have access and beneficiary terms that require separate assessment.
- Members transferred from Grow Wrap, Voyage or PortfolioOne should use their Expand welcome documents and fee schedule. June 2026 figures for those former products describe the pre-transfer account.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
Before choosing between DFRDB and Expand
Use the membership rules to establish which accounts are available to you. Then compare the total price of the investment option and cover you need. A lower fee or higher historical return alone does not tell you which fund is suitable.
Ask both funds to confirm insurance acceptance, exclusions, waiting periods and whether cover would change when you leave your employer. Obtain advice before giving up a defined benefit or an insurance policy you may not be able to replace. ASIC Moneysmart explains the comparison checks.
Read the full DFRDB profile · Read the full Expand profile · Choose another comparison
Sources for DFRDB
Checked 2026-09-11. Documents and product terms can change after this date.
Sources for Expand
Checked 2026-09-11. Documents and product terms can change after this date.