I am ex RAAF with 20 years of service and contributions to DFRDB. The 2nd class treatment of Defence personnel continues - it's now time to sort out this injustice.
In my time in the service the DFRB / DFRDB scheme was a funded scheme until Whitlam saw a means of getting a large sum of capital by incorporating the funds into consolidated revenue. All current & passed service members deserve better treatment. At least by getting the same tax benifts as superannuation!!
Before the DFRDB Scheme was a scheme, it was a fund, which was "funded" by the contributions of the members. After 1972 when it became a "scheme", the Funds were transfered to consolidated revenue. Had this continued the taxation position today would be markedly different.
I feel all past service members should be entitled to the same taxation treatment as the rest of the community. Do all Commonwealth super schemes receive the same treatment ?
If the pollies where particpants in this scheme then you could guarantee that the fund would be reclassified with all haste and little fanfare. Please stop serving your own interests and instead serve those who have served you.
After 24 years' service, my DFRDB pension is about equal to the aged pension - but it renders me ineligible for that pension. I have effectively paid TWICE for my meazley pension.
You might realise that it was compulsory for all service personnel to contribute to this scheme, unlike civilian superannuation schemes where contributions and participation are not compulsory. These civilian superannuation schemes attract tax breaks whereas the DFRDB Scheme does not. Another example of the inequality of care applied to Defence Force Personnel.
A good fund but going backwards due to value erosion over the years. If not reclassified to "funded" then it's just another huge retrograde step for DFRDB.
The DFRDB super scheme for Service Members was rightfully the best superannuation system in Australia when I joined up in the 1950s. It's a tragedy for Australia that Government of all complexions have left those that are willing to serve this country with superannuation that was good in the 50s. If you want to recruit good guys you have to treat them like good guys.
Its importnat that the silent majority don't forget how the Whitlam Govt plundered this fund back in the early 1970s. As well, we have all contributed 5.5% AFTER TAX.
The continued unwillingness of the PM and Treasurer to accept the recommendations put before them in relation to the unfairness of the current superannuation provisions for the Services really demonstrates their feeling that there are no votes in it.
While we were given no choice in contributing to the DFRBD Scheme, and if the Government now claims it is unfunded,how is it that every payday members of the Defence Force had DFRDB contibutions taken from their salary? Is it just another con by the ungrateful politicans of all parties?
