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 First Super
Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
First Super
Industry fund
First Super has a compact investment menu and offers super, transition-to-retirement and retirement income accounts. Members can get help with their investment choice without a separate advice charge.
Membership
The fund accepts new members through its public joining process. Read the relevant PDS and target market determination before opening an account.
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.
| Measure | Choose an investment option | Balanced - accumulation |
|---|---|---|
| Return basis | Choose an option | MySuper net return after administration costs, $50,000 representative member |
| 3-year return, per year | Choose an option | 8.35% |
| 5-year return, per year | Choose an option | 6.94% |
| 7-year return, per year | Choose an option | 6.62% |
| 10-year return, per year | Choose an option | 7.25% |
| APRA strategic growth allocation | Choose an option | 79.50% |
| Reported total fees, net of tax, at $50,000 | Choose an option | $560 a year (1.12%) |
| Administration and advice costs, net of tax (included in total) | Choose an option | $175 a year |
| 2026 performance test | Choose an option | Pass |
| New-member status at reporting date | Check the current product eligibility rules | Check the current product eligibility rules |
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 | First Super |
|---|---|---|
| Membership and access | The scheme serves eligible existing members and pensioners. Sources1 | The fund accepts new members through its public joining process. Read the relevant PDS and target market determination before opening an account. Sources1234 |
| Accounts and products | Defence Forces Retirement and Death Benefits Scheme. DFRDB pension and scheme benefits Separate MilitarySuper ancillary account where eligible Sources1 | Accumulation super, transition-to-retirement account and Retirement Income account. Sources1234 |
| Insurance | Serving members have built-in death and invalidity protection. Sources1 | Insurance through super is available. Check the current insurance guide for the cover offered to your membership category and the cost at your age. Sources1234 |
| 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 | A Retirement Income account allows a choice of investment mix and payment frequency. Pension payments can be fortnightly, monthly, quarterly, half-yearly or yearly, subject to the required annual minimum. Sources1234 |
| Comparing investment performance | Keep the pension and ancillary accumulation account separate. Sources1 | Compare Balanced with portfolios carrying a similar growth allocation, over the same dates. Shares Plus and Cash have different risk profiles and should not be ranked as though they pursue the same outcome. Sources1234 |
| Investment choices | This detail has not been verified for this profile. Check the current product documents. | Balanced is the MySuper default. The other options are Conservative Balanced, Growth, Shares Plus and Cash. Members can split their balance across options. Sources1234 |
| Advice and support | This detail has not been verified for this profile. Check the current product documents. | The fund says advice about its investment options is available to members at no extra cost. A wider advice request needs a separate scope and cost check. Sources1234 |
| Fee details to check | This detail has not been verified for this profile. Check the current product documents. | The current fees page gives a $50,000 Balanced example of $465.80 a year, including administration, investment and transaction costs, before any additional applicable fees. This is an example for that option and balance, not a universal member bill. Sources1234 |
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 First Super
A useful shortlist candidate for someone who wants to choose among a small number of diversified strategies rather than manage individual securities.
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 First Super
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 First Super profile · Choose another comparison
Sources for DFRDB
Checked 2026-09-11. Documents and product terms can change after this date.
Sources for First Super
Checked 2026-09-11. Documents and product terms can change after this date.