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 smartMonday
Compare what each fund offers, then choose investment options to put their published costs and returns side by side.
smartMonday
Retail fund brand
smartMonday PRIME has an age-based default and a choice menu, plus a pension product. Its MySuper design changed in August 2026.
Membership
Employer and personal membership depend on the relevant product and plan.
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 | smartMonday |
|---|---|---|
| Membership and access | The scheme serves eligible existing members and pensioners. Sources1 | Employer and personal membership depend on the relevant product and plan. Sources123 |
| Accounts and products | Defence Forces Retirement and Death Benefits Scheme. DFRDB pension and scheme benefits Separate MilitarySuper ancillary account where eligible Sources1 | PRIME super and PENSION. Sources123 |
| Insurance | Serving members have built-in death and invalidity protection. Sources1 | Insurance is available; advice about a member's smartMonday insurance is included without a separate advice charge. 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 | A pension account is available under separate disclosure. Sources123 |
| Comparing investment performance | Keep the pension and ancillary accumulation account separate. Sources1 | Do not compare the new LifeStage strategy as though its allocation has remained unchanged throughout the historical LifeCycle record. Sources123 |
| Investment choices | This detail has not been verified for this profile. Check the current product documents. | LifeStage MySuper now uses four age bands. Members can also select pre-mixed and sector options. Sources123 |
| Advice and support | This detail has not been verified for this profile. Check the current product documents. | smartCoach provides account-related advice. Check the scope before seeking broader planning. Sources123 |
| Fee details to check | This detail has not been verified for this profile. Check the current product documents. | From 14 August 2026, the standard annual administration charge fell to $67.60 plus 0.16% of balance, with a $1,000 cap on that percentage component. Investment costs rose for most options; employer terms may differ. 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 smartMonday
Worth comparing for members who prefer an age-based investment strategy or have a negotiated employer plan.
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 smartMonday
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 smartMonday profile · Choose another comparison
Sources for DFRDB
Checked 2026-09-11. Documents and product terms can change after this date.
Sources for smartMonday
Checked 2026-09-11. Documents and product terms can change after this date.