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| Super review aims to please Volume 11, No. 61, March 08, 2007 |
| AN INDEPENDENT review of military superannuation arrangements has been commissioned. Bruce Billson, Minister Assisting the Defence Minister, said the superannuation review complemented a range of Government initiatives aimed at enhancing ADF recruitment and retention. “Superannuation benefits are a key component of the total remuneration package for ADF members and the overall aim of the independent review is to ensure that the military schemes continue to meet the needs of our people and reflect contemporary superannuation standards in a sustainable manner,” he said. “Serving and former ADF members can be assured that there will be no detriment to their accrued superannuation entitlements no matter what the outcome of the review.” The last review of military superannuation occurred in 1990 and there have since been many changes in the wider community superannuation environment and in the demographics and career aspirations of ADF members, he said. Mr Billson said current ADF superannuation benefits were designed to reflect the unique nature of military service and provide retirement, invalidity and death benefits that in many ways rightly exceeded the community standard. “Now is an appropriate time to review the military schemes to ensure that superannuation benefits are being provided in the most effective and sustainable manner and reflect the needs of ADF members and their families,” he said. The review will be led by Mr Andrew Podger, a former Public Service Commissioner with strategic Defence experience. He will be assisted by Dr David Knox, a recognised superannuation expert and former APRA Board member, and Air-Cdre Lee Roberts, who will provide advice about ADF personnel and bring a military perspective to the review team. Mr Billson said the review team would consult widely with members of the ADF, who would be able to contribute through their personnel areas, consultations at major Defence facilities or Defence’s website. The review team will also consult with representative ex-service organisations, superannuation industry bodies and other Government departments. The report will be completed in mid-2007 and submitted for Government consideration. Information about the review, the terms of reference and consultation arrangements can be found at www.defence.gov.au/militarysuperreview. |