Council to improve financial education
Volume 11, No. 53, October 05, 2006

Financial focus: Flanked by CDF ACM Angus Houston and DGPers-A Brig Paul Symon, Defence Minister Brendan Nelson and ADF Financial Services Consumer Council chairman Ken Kipping display the council’s charter. Photo by Doc Doherty

HE new ADF Financial Services Consumer Council will have retention and welfare benefits, according to Defence Minister Brendan Nelson.

At the launch of the council in Canberra on September 15, Dr Nelson said the organisation would provide credible and independent financial education to ADF members and their families. The council would not provide individual financial advice but would focus on improving financial literacy.

“The council’s key priorities will in no small way contribute to a number of our retention and management issues,” Dr Nelson said.

“ADF personnel and their families will receive well-informed, consistent, independent and professional advice about consumer issues of a financial nature. It’s not about directing them to one particular product supplier but rather educating them about the myriad things that are available to them and helping them avoid pitfalls in terms of investment.”

The council consists of people with Service experience and people with extensive knowledge of the financial services industry. The council will develop educational resources, training and guidance with Australian Securities and Investment and the Australian Competition and Consumer Commission.

For more information contact Glen Tye, Director Personnel Support and Amenities, (02) 6266 3303.