VETERANS are not fighting for the government but, on the issue of superannuation, against the government.
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Why do those displaying loyalty to governments of all persuasions decide on such an approach?
It’s because governments have reduced the spending power of Defence Force superannuation by refusing to provide fair indexation after making statements that the use of a CPI adjustment was no longer an appropriate formula but continued with CPI for veterans.
Then prime minister Gough Whitlam confiscated the accumulated funds of the Defence Superannuation Scheme and transferred millions to consolidated revenue
Since the early 1970s, all fortnightly superannuation contributions from the Defence Force and the federal public service have gone into consolidated revenue and not into an interest-earning fund.
Our politicians now tell us of the huge shortfall in funds to meet superannuation entitlements.
On attaining the age when superannuation can be drawn, a member can commute a percentage of their entitlements and go on to a reduced pension.
As life expectancy forms part of the formula used to calculate the amount of advance, one would expect that once the amount had been repaid, the member would return to full pension.
That’s what applies to Centrelink clients who can arrange for advanced payments.
This is not so for Defence Force members.
They are required to continue to repay the amount until the day they die.
I took advantage of this system and repaid the commutation amount some years ago.
When I die, my spouse will receive 62.5 per cent of my superannuation yet the spouse of a politician will receive 83 per cent.
That seems unfair when both are employed by the taxpayer.
There is an excellent website that covers these issues off ongoing injustice in great detail.
It is www. Standto.org.
— JIM HISLOP,
Wodonga