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Amendments passed through Parliament on 15 May will make changes to the Australian Defence Force Super and the Defence Home Ownership Assistance Scheme (DHOAS) eligibility criteria, benefiting veterans and their families.
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Minister for Veterans’ Affairs and Defence Personnel Darren Chester said that changes in the Defence Legislation Amendment (Miscellaneous Measures) Bill 2020 would allow ADF members transitioning to civilian life to access DHOAS for five years after they leave Defence service, as well as the option to remain members of ADF Super.
Currently, DHOAS provides home loans and monthly subsidies to retired Defence personnel and veterans.
“Transitioning from ADF to civilian life is a significant life event and these changes will allow more time for families to make important financial decisions,” said Minister Chester.
“DHOAS provides eligible members with a monthly subsidy on mortgage interest payments and is an important housing benefit provided to assist current and former ADF members purchase their own home.
“This legislation increases the time frame for which DHOAS can be accessed once leaving the ADF from two years to five years, allowing additional time to support future housing needs.
“The change to ADF Super will align the fund with broader industry superannuation arrangements as well as other public superannuation schemes, and allows ADF Super members to choose to remain contributing members after they transition to civilian life.
“I encourage veterans and their families to take advantage of these changes.”
These changes are the latest in a series of measures supporting veterans, following recent boosts to the Coordinated Client Support Program and the Personalised Career Employment Program. Changes to DHOAS will come into effect before the end of June 2020, while the change to ADF Super will commence on 6 July 2020.
