Whatever happens, Australian Air Pilots Mutual Benefit Fund is there for you - supporting and protecting you and your family in three essential ways.
up to $800,000 lump sum for permanent loss of licence
Standard Capital Benefit
Benefits are paid to members in accordance with the Rules of the MBF. The maximum Standard Capital Benefit is $600,000.*
The balance of the Standard Capital Benefit is payable less any monthly benefits received when a member has permanently lost their Class 1 Medical Certificate.
Optional $200,000 Premium Capital Benefit
You can add a further $200,000 to your permanent loss of licence lump sum at a significantly reduced contribution rate.
In order to add the extra $200,000 you must have the Maximum Standard Capital Benefit.
*for applicants who are under 40. See Contributions & Benefits Scale.
Monthly Benefits up to $12,000
to help you better meet your financial obligations while you're not flying. Monthly payments are derived from the Standard Capital Benefit only.
|If your annual income is||% of Capital Benefit paid monthly||For Capital Benefit of||Monthly Payments (gross)|
|$100,000 < $150,000||1.75%||$600,000||$10,500|
Monthly payments will not exceed one twelfth of a Member’s Gross Annual Salary.
Benefits start 90 days after the date of disability or at the end of sick leave, whichever occurs last - and are paid for up to two full years.
Paid in full regardless of other income
With an insurance policy, your monthly payments are reduced if you earn other income. Not with your MBF - we pay the full monthly amount regardless of anything else you earn.
No income insurance adjustments, so you know exactly what your monthly payments will be.
MBF does not pay benefits where you have an entitlement to benefits under State or Federal legislation (including but not limited to Workers Compensation).
Complementary Death Benefit
An additional lump sum paid to your nominated beneficiary
On top of the full Standard Capital Benefit and the Premium Capital Benefit (if taken) in the event of your death.
Your death benefit starts at $100,000 the day you join the MBF and increases by $10,000 for every year of membership up to $200,000.
Total Capital Benefit at Death can be as much as $1 Million.
The MBF Trustee does have the discretion to consider earlier payments in circumstances of financial hardship. Please note that to the extent that there is any inconsistency between information provided on this website and the rules of the MBF, the rules will take precedence.