09 March 2010

Returned & Services League of Australia weighs in on proposal to merge military superannuation boards into one board on eve of Parliamentary hearings

The Returned & Services League of Australia ("RSL") has weighed in on the proposal to merge the Military Superannuation Boards into one Commonwealth Superannuation Board.

On Thursday the Senate Finance and Public Administration Legislation Committee will hold a hearing on the Governance of Australian Government Superannuation Scheme Bill 2010, the ComSuper Bill 2010 and the Superannuation Legislation (Consequential Amendments and Transitional Provisions) Bill 2010, (This includes the Defence Force Retirement and Death Benefits Act 1973; Defence Force Retirement Benefits Act 1948; and Defence Forces Retirement Benefits Scheme.) Explanatory memorandums can be found here and here.

The RSL's submission can be found here. The RSL notes that the Government failed to consult the RSL about the proposed changes to the governance of military superannuation schemes which affects its members.

Australia largest veteran's organisation, the RSL, indicated that is has concerns about several aspects of the proposal and legislation. It noted that the findings and recommendations of the government review, cited in reliance of the need for change, have not been made public for critical review.

Further, the veteran's organisation argues that the intended merger of military and civilian superannuation schemes is inconsistent with the principles of separateness underlying the legislation under which the schemes were originally established by Parliament.

The RSL recommends that further consideration of the pending legislation be deferred to allow military superannuates time to examine relevant information and make an informed assessment about the legislation.

[Disclaimer: The author of this post is a member of the RSL]

No comments:

Post a Comment