Rolling out your benefit
Transferring your super to another complying super fund.
Fund rules differ
Select your fund to view the details
- CSS
- DFRDB
- MilitarySuper
- PSS
What is rolling out?
A rollover is a transfer of existing superannuation from one fund to another, without the money leaving the superannuation environment. Rolling out means transferring your super from MilitarySuper to another complying super fund.
Why can’t I roll out my entire benefit?
Specific rules set out how MilitarySuper operates, including which components of your benefit can be rolled out and when. Because of these rules, you may not be permitted to roll out your benefit as you wish. Commonwealth Superannuation Corporation (CSC) does not have discretion to roll out your benefit if doing so is against these rules.
What can I roll out?
Depending on your circumstances, you may be eligible to roll out some, or all of your MilitarySuper benefit. The following table sets out what can be rolled out and when.
| Membership | Circumstances | Can roll out | Conditions |
|---|---|---|---|
| MilitarySuper contributor | Remaining in effective service and the scheme | Ancillary benefit | Some or all of the benefit |
| MilitarySuper contributor | Retiring over age 55 (on medical grounds) | Member benefit Ancillary benefit |
Some or all of the benefit |
| MilitarySuper contributor | Retiring (or being made redundant) at or over age 55 | Member benefit Ancillary benefit Employer benefit |
Some or all of the benefit |
| MilitarySuper contributor | Transitioning under age 55 (including on medical grounds or redundancy) | Member benefit Ancillary benefit |
Some or all of the benefit |
| MilitarySuper contributor | Opting out of the scheme | Member benefit Ancillary benefit |
Some or all of the benefit |
| MilitarySuper preserved | Under age 55 | Member benefit Ancillary benefit |
Some or all of the benefit |
| MilitarySuper preserved | 55 and over | Member benefit Ancillary benefit Employer benefit |
All of the benefit |
| MilitarySuper associate | Can roll over at any time | Associate A benefit | All of the benefit |
| MilitarySuper associate | 55 and over | Associate B benefit | All of the benefit |
What else can I do?
If you’re currently contributing, you can opt out of MilitarySuper by making an election to cease being a member. This is a permanent decision that can’t be reversed. You won’t be eligible to re-join the scheme in future. If you have a preserved benefit you will have the opportunity to opt out if you re-join the scheme at a later date. For more information about opting out of MilitarySuper, please contact us.
Won’t my benefit be eroded by fees and charges?
MilitarySuper does not deduct fees from customers’ accounts. We deduct the indirect costs of investing your super from overall investment returns before determining unit prices. For more information about fees and charges, please refer to our Fees and Other Costs booklet available on our website.
Can I get special consideration?
As the Trustee of MilitarySuper, CSC does not have discretion in this matter. CSC can’t authorise the release of your funds unless your circumstances satisfy the requirements of the MilitarySuper rules and you meet a condition of release. Common conditions of release include reaching age 65, retiring from the workforce, invalidity retirement, and early release due to financial hardship or on medical or compassionate grounds.
If you’re not satisfied with the information we have provided about rolling out, you may lodge a complaint by sending an email to [email protected] or by contacting the Australian Financial Complaints Authority (AFCA). AFCA will investigate your complaint, but if CSC’s refusal to rollout your benefit is due to the relevant scheme rules, your complaint may be dismissed. AFCA cannot direct a super fund trustee to rollout a benefit if the member is not yet entitled to that benefit under the scheme rules.