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The Military Superannuation Review |
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Current Status: The public consultation period for submissions on The Report of the Review into Military Superannuation Arrangements closed on 31 March 2008. The Government is now considering its position on the Review recommendations. The Report of the Review into Military Superannuation Arrangements was publicly released by the Hon Warren Snowdon MP, Minister for Defence Science and Personnel, on 24 December 2007.
Media Release dated 24 December 2007
The period for public comment closed on 31 March 2008.
The Executive Summary provides a précis of
the report and include the Review recommendations. |
Background
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The Hon Bruce Billson MP,
the then Minister Assisting the Minister for Defence, announced a review of
Military Superannuation on 27 February 2007. The Report of the Review was
submitted to the previous Government on 31 July 2007, but no decision had
been made in respect of the Review before the 2007 Federal Election was
conducted. The Review was conducted
by an independent Review Team and the Report is framed against the Terms of Reference. In respect of the TORs the Review observed: “The
Terms of Reference (TORs) identify two principles that provide the
philosophical context for the Review. Firstly, the ‘unique nature of military
service’ requires careful consideration of the design features in military
superannuation schemes. Secondly, superannuation benefits are a key component
of ADF conditions of service and have the potential to contribute to
recruitment and retention in the ADF. In
summary, the TORs require: ·
a review of
the current schemes against the two principles, and in light of the
contemporary superannuation framework in Australia and best practice
superannuation, as well as developments in the ADF and elsewhere relevant to
military superannuation arrangements, and ·
analysis of a
list of specific technical design issues of enduring interest to stakeholders
that mostly concern the current schemes. This list was supplemented by the Minister’s
letter to the Review Team requesting a review of the payment of
superannuation benefits to individuals remanded in custody. In
making recommendations, the TORs require, inter alia, that they be consistent
with the spirit and requirements of the regulatory environment for
superannuation, and not be detrimental to former and current members of the
ADF.”
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To obtain hard copies of
the Report please email militarysuper.review@defence.gov.au |
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Last updated: 1 April 2008 |