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 Pearler Super
Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
Pearler Super
Retail fund brand
Pearler Super is a digital accumulation account for members who want to choose ETFs and other approved ASX securities.
Membership
The PDS allows a zero initial investment, but an operating cash balance is required once the account is funded.
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 | Pearler Super |
|---|---|---|
| Membership and access | The scheme serves eligible existing members and pensioners. Sources1 | The PDS allows a zero initial investment, but an operating cash balance is required once the account is funded. Sources123 |
| Accounts and products | Defence Forces Retirement and Death Benefits Scheme. DFRDB pension and scheme benefits Separate MilitarySuper ancillary account where eligible Sources1 | Pearler Personal Super accumulation. Sources123 |
| Insurance | Serving members have built-in death and invalidity protection. Sources1 | There is no integrated insurance. Moving an entire balance from another fund can end the cover held there. Sources123 |
| 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 | The current PDS does not offer a pension account. Sources123 |
| Comparing investment performance | Keep the pension and ancillary accumulation account separate. Sources1 | Performance depends on the actual securities and cash held. There is no single Pearler portfolio return that applies to everyone. Sources123 |
| Investment choices | This detail has not been verified for this profile. Check the current product documents. | Members can choose from a menu of ETFs and other ASX-listed securities through the Pearler apps. Sources123 |
| Advice and support | This detail has not been verified for this profile. Check the current product documents. | The app offers investment tools. Any advice arrangement should be assessed separately from access to those tools. Sources123 |
| Fee details to check | This detail has not been verified for this profile. Check the current product documents. | Administration fees apply to the first $500,000, with eligible family-group caps. Add underlying investment costs, transactions and the effect of the cash account. Sources123 |
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 Pearler Super
May suit a member who can construct and maintain a diversified listed portfolio and has separately considered insurance.
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 Pearler 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 Pearler Super profile · Choose another comparison
Sources for DFRDB
Checked 2026-09-11. Documents and product terms can change after this date.
Sources for Pearler Super
Checked 2026-09-11. Documents and product terms can change after this date.