Minister for Veterans’ Affairs Darren Chester today announced an independent inquiry to examine the information provided by scheme administrators and relevant departments to members of the Defence Force Retirement and Death Benefits (DFRDB) superannuation scheme.
The DFRDB scheme, which was established in 1972 and closed to new members in 1991, allowed members to commute (exchange) part of their pension for a lump sum.
“There are different views among some in the veteran community about certain areas of the scheme and the appropriateness of information provided to members at the time,” Minister Chester said.
“The government recognises the importance of open and transparent discussion around veteran concerns and we will consult with the ex-service community about the terms of reference for the inquiry, as well as panel membership.
“Ex-service organisations and scheme members will have the opportunity to make submissions to the inquiry and raise any other concerns relevant to the scheme.”
This inquiry is on the agenda for the next Ex-Service Organisation Round Table, to be held on 2 April 2019.
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