{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/62f9d054cf136d001219df4f/6a3a068230d470180fcca2d8?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"427 Defence force retirement planning: defined benefit schemes & the mistakes that cost thousands ","description":"<p>In this episode Glen sits down with independent financial adviser, Andrew Saikal-Skea to answer your questions about money &amp; retirement and the military. They talk about:</p><p><br></p><p>👉🏻 the compulsory retirement age</p><p>👉 defined benefit schemes &amp; how they differ from super</p><p>👉🏼 the MSBS (Military Superannuation and Benefits Scheme)</p><p>👉🏽 the DFRDB (Defence Force Retirement and Death Benefits Scheme)</p><p>👉🏾 ADF cover &amp; super</p><p>👉🏿 retirement planning if you continue working after 60</p><p>👉🏻 common MSBS money mistakes</p><p>👉🏾 the $1000 financial advice allowance</p><p>👉🏽 tax on MSBS</p><p>👉 reversionary pensions</p><p>👉🏼 how does a defined benefit scheme affect your transfer balance cap</p><p>👉🏿 how does it work if you receive 2 defined benefit pensions</p><p>👉🏻 structuring your defined benefit pension with a civilian super pension</p><p>👉 a question about meeting the super condition of release</p><p><br></p><p>Andrew's website: <a href=\" https://www.saikal-skea.com.au/\" rel=\"noopener noreferrer\" target=\"_blank\">https://www.saikal-skea.com.au/</a></p><p><br></p><p>Subscribe to Retire Right on Youtube:<a href=\"https://youtube.com/playlist?list=PLQW_VRWNC0jR1KQDXi5pcXwREjc0pde9L&amp;si=zIMg1Vow9SOhug_Z\" rel=\"noopener noreferrer\" target=\"_blank\"> </a><a href=\"https://www.youtube.com/@RetireRightAus\" rel=\"noopener noreferrer\" target=\"_blank\">https://www.youtube.com/@RetireRightAus</a></p><p><br></p><p>If you’d like to chat with someone about your personal situation, reach out to our team so we can connect you with a professional:<a href=\"https://www.retireright.com.au/get-help\" rel=\"noopener noreferrer\" target=\"_blank\"> https://www.retireright.com.au/get-help</a></p><p><br></p><p>Sign up to the Retire Right newsletter here:<a href=\"https://email.retireright.com.au/\" rel=\"noopener noreferrer\" target=\"_blank\"> https://email.retireright.com.au/</a></p><p><br></p><p>🏡 Join the Retire Right facebook group:<a href=\"https://www.facebook.com/groups/retireright\" rel=\"noopener noreferrer\" target=\"_blank\"> https://www.facebook.com/groups/retireright</a></p><p><br></p><p>This content is for education and entertainment purposes only and is intended for Australian residents. It is not a substitute for professional financial, tax or legal advice. Any advice provided is general financial advice only, which does not take into account your objectives, financial situation or needs.You should consider whether the advice is appropriate for your circumstances before acting on it. If you choose to buy a financial product, read the relevant product disclosure statement (PDS) and target market determination (TMD), and seek personal advice from a licensed adviser. We may discuss products, services or listener questions within our content for illustration and entertainment purposes. It is impossible to provide personal advice in this format, as we don’t know your individual financial situation. We may also change the names of questioners for privacy. While we do our best to provide accurate information, we accept no responsibility for any inaccuracies. Guest opinions are theirs and their respective licence holders. SYMO Interactive Pty Ltd and Glen James are authorised representatives of MoneySherpa Pty Ltd, which holds Australian Financial Services Licence 451289. Please read our Financial Services Guide at moneypodcast.com.au.</p>","author_name":"Glen James"}