review of military superannuation

The Minister Assisting the Minister for Defence Bruce Billson announced today that an independent review of military superannuation arrangements has been commissioned. 

Mr Billson said the superannuation review complemented a range of Australian Government initiatives aimed at enhancing Australian Defence Force recruitment and retention.

“Superannuation benefits are a key component of the total remuneration package for Australian Defence Force 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 was undertaken in 1990 and since then, there have been many changes in the wider community superannuation environment and in the demographics and career aspirations of ADF members”.

Mr Billson said that the current ADF superannuation benefits were specifically designed to reflect the unique nature of military service and provide retirement, invalidity and death benefits that in many ways rightly exceed 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 AO, 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 Commodore Lee Roberts CSC who will provide advice about ADF personnel and bring a military perspective to the review team.

Mr Billson said that the review team will consult widely with members of the ADF, who will be able to contribute through their Service Personnel offices, consultations at major Defence facilities or via Defence’s website.

The review team will also consult with representative Ex-Service Organisations, the wider Defence community, superannuation industry bodies and other Government departments.  The report will be completed in mid-2007 and submitted for Government consideration.

Submissions addressing the terms of reference are welcomed.  Additional information about the review, the terms of reference and consultation arrangements are available on Defence’s website at www.defence.gov.au/militarysuperreview

Media Information:

Cameron Hill                                    (Mr Billson)   03 9781 2333                        0408 239 521

Defence Media Liaison                 (Defence)      02 6265 3343                        0408 498 664

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