Closed public sector scheme
MilitarySuper
MilitarySuper combines a member investment account with an employer benefit calculated under Defence scheme rules.
THE OVERVIEW
About MilitarySuper
The fund closed to new entrants in 2016. The member and ancillary balances depend on contributions and investment earnings, while the employer benefit uses final average salary and a service-based multiple.
Who can join
Relevant to existing and preserved MSBS members. Returning ADF personnel may have specific re-entry rights.
THE SUPERGURU VIEW
Our take
MilitarySuper needs a service-history comparison. A table of investment fees cannot capture the employer benefit or the effect of discharge and pension choices.
Who this profile is for
- Existing MSBS members planning contributions, civilian transition or retirement.
Based on the cited product features. These are general reasons to investigate the fund, not a personal recommendation. Supporting sources.
THE NUMBERS
Fees and investment returns
Use the product, investment option and employer plan on your statement. Lifecycle members need to choose the relevant stage. APRA's investment pathways may include closed options held by existing members.
No investment pathway has been matched to this profile in the June 2026 APRA package. Read the fee and performance notes below and use the fund's current documents. Absence from this dataset is not a performance-test failure.
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.
A CLOSER LOOK
Inside MilitarySuper
Accounts and products
Military Superannuation and Benefits Scheme (MSBS).
Member benefit
Employer benefit
Ancillary benefit
Investment choices
Balanced for the member investment component
Members can select Cash, Income Focused, Aggressive or Balanced for member and ancillary benefits.
Insurance
Serving members have built-in death and invalidity benefits under scheme rules.
Comparing investment performance
ADF Super and MilitarySuper provide different benefit structures.
THE LEGAL FUND
Fund size in APRA's annual reporting
Military Superannuation & Benefits Fund No 1
At 30 June 2025. These are legal-fund totals, which can include several products and more than one account per person.
APRA annual fund-level statistics, June 2025. These older totals can differ substantially after mergers. Size is not a measure of suitability or investment quality.
Sources for MilitarySuper
Checked 2026-09-11. Documents and product terms can change after this date.