Superannuation - Australia's View

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Read the FSC ING Direct Report "Superannuation – Australia's view" released today by the Financial Services Council and ING DIRECT.

For the serving ADF servicemen and women this report is worth reading to see the attitudes of Australians to superannuation and relate it to your knowledge of and attitudes towards your DFRDB or MSBS  suparannuation scheme.

Are you thinking about your retirement income more now that it's getting closer?  When you're a bit younger it's just in the back of your mind but if you are over 40 then for your family's future start planning now. 

Garry 19.12.2013 (16:36:55)  
Defence Disability Pensions Yes No  

I just saw a response from Senator Rollinson on the RAN ex members FB page stating the Government is unable to increase the Vetrans Disability Pension in line with Hamer Review as it will cost $695 million over the forward estimates. The excuse is the need to return the Budget to surplus.
Does anyone know if this was a commitment by the Government in Opposition or was it something they were to look into in the future?
If it was a commitment we need to mobilise against this decision, especially in light of announcements of $100 million hand outs to over paid union supported car manufacture employees who have more than 4 years notice of the closure. I think anyone on a vetrans disabilities pension is just a little more deserving.

The Coalition during the 2010 and 2013 election campaigns never promised to increase disability pensions despite lobbying by ADSO and many other ESOs to do so. Senator Ronaldson, at a number of pre-election public meetings nation wide, was very clear about it. His line then was as stated in his letter dated 5 December 2013.

ADSO has fought and will continue to fight to have all political parties support the reinstatement of the right given in 2007 by the then Coalition Government. The right has been eroded that we will continue to lobby the Government to have corrected. We maintain that the cost involved is not a discretionary expenditure and seek the Government's reinstatement of the right during their current term in office.

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Brian Warner 18.12.2013 (11:18:44)  
Fair Indexation Yes No  

Good to see that the Coalition's promise to deliver Fair Indexation within 100 days of being elected was just another one for the rubbish bin!

The Coalition's pledge was never to introduce Fair Indexation within 100 days.
It's pledge was to introduce Fair Indexation for DFRB/DFRDB (excluding under 55 aged contributors) on the 1 July 2014.
That pledge has been reaffirmed by the Coalition.

ADSO will continue to seek the removal of those exclusions and to extend the Fair Indexation to MSBS.

Alan Aburn 18.12.2013 (09:55:46)  
DFRDB Indexation Yes No  

In light of the current statements, todays news brief 18 Dec 13, by the current Treasurer regarding the lack of money left in the bin - does this mean that there will be a backflip on changing the Indexation as promised prior to the election to occur in July 2014?? Or will the Liberal Government honour this promise??

What chances that the under 55s and MSBS pensioners being considered at all??

The Government's pledge has been costed and included in their budget for implementation from the 1st July 2014. There is no back flip.

The exclusions for the DFRB/DFRDB and MSBS as previously announced will stand for the 1 July 2014 introduction. However ADSO will continue to fight for them to be removed during this Government's term in Office.

quincy 27.09.2013 (18:03:34)  
Super Yes No  

32 pages of coalition's Brogden promoting Super funds. These are great little earners for the funds' managers but I'd plump for a defined pension any-day especially if it couldn't be fraudulently reduced by perfidious politicians as has happened to former Commonwealth employees.

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