2014 Military Superannuation Schemes: Review of long-term costs

This report sets out estimates as at 30 June 2014 of the long-term costs of superannuation benefits payable in respect of the members of the three superannuation schemes covering the vast majority of Australian Defence Force (ADF) personnel. The previous report was prepared using data as at 30 June 2011.

The schemes covered in this report are:

• the Military Superannuation and Benefits Scheme (MSBS) which commenced on 1 October 1991 and which is planned to be closed to new ADF personnel from
  1 July 2016;
• the Defence Force Retirement and Death Benefits Scheme (DFRDB) which commenced on 1 October 1972 and which has been closed to new members since the commencement of the MSBS; and
• the Defence Forces Retirement Benefits Scheme (DFRB) which commenced on
  1 July 1948 and only covers those who were in receipt of a pension at the time DFRDB commenced, or their reversionary dependants.