The objective of Program 1.14 is to administer and report member and employer contributions paid during the year to the Defence Force Retirement and Death Benefits Scheme (DFRDB) and the Military Superannuation and Benefits Scheme (MSBS). It accounts for the liability for these schemes as well as for the Defence Force Retirements Benefits Scheme (DFRB).
All three schemes are managed on Defence's behalf by ComSuper. During the year, Defence provided timely payment of member contributions to ComSuper and quality services for the administration of the three schemes.
This program also includes payment of the MSBS Retention Benefit. Since 1991, Defence has paid the MSBS Retention Benefit to eligible scheme members after 15 years of continuous eligible service. The purpose of the Retention Benefit is to encourage members to serve until they have completed 20 years of service. Due to legislative amendments passed in 2005, the Retention Benefit is not available to members who enlisted after 6 October 2005. In 2012-13, Defence continued the prompt payment of member contributions to ComSuper and the payment of Retention Benefit to those members who have taken up the offer.
|Report on superannuation contributions and the movement in liabilities associated with the three military superannuation schemes||met|
|Key performance indicator||Status|
|Provision of timely payments to ComSuper and quality administration of DFRB, DFRDB and MSBS employer and member contributions||met|