TheShadow
31st Dec 2006, 07:49
DFRB/DFRDB REcipients NEED to read this
http://www.ozveteranforce.com/
http://www.petitionspot.com/petitions/dfrbdfrdb
Basically the reason behind this petition is that the treasurer has taken advice that it would be too costly and complex to acknowledge that (unlike MSBS) the ADF's older DFRB/DFRDB Schemes were member contributory. DFRB and DFRDB will now be treated under the new Superannuation legislation (effective from 01 Jul 2007) as unfunded schemes that are/were totally sourced from consolidated revenue. As you will recall, a taxed amount of 5.5% of taxable income was paid by DFRB/DFRDB recipients over the entire career of all qualifying individuals.
The effect of this will be 180 degree dissimilar to the treatment being afforded to Federal civil servants' and parliamentary pensions inasmuch as you will receive no tax waiver on your funded contributions. This intention has been confirmed by the latest DFRDB letter sent out at the end of the calendar year.
If you consider that "rationalization" to be unfair and inequitable, please sign the petition to the Treasurer (Mr Costello).
http://www.ozveteranforce.com/
http://www.petitionspot.com/petitions/dfrbdfrdb
Basically the reason behind this petition is that the treasurer has taken advice that it would be too costly and complex to acknowledge that (unlike MSBS) the ADF's older DFRB/DFRDB Schemes were member contributory. DFRB and DFRDB will now be treated under the new Superannuation legislation (effective from 01 Jul 2007) as unfunded schemes that are/were totally sourced from consolidated revenue. As you will recall, a taxed amount of 5.5% of taxable income was paid by DFRB/DFRDB recipients over the entire career of all qualifying individuals.
The effect of this will be 180 degree dissimilar to the treatment being afforded to Federal civil servants' and parliamentary pensions inasmuch as you will receive no tax waiver on your funded contributions. This intention has been confirmed by the latest DFRDB letter sent out at the end of the calendar year.
If you consider that "rationalization" to be unfair and inequitable, please sign the petition to the Treasurer (Mr Costello).