Chairman's Overview
The Defence Forces Retirement Benefits (DFRB) and Defence Force Retirement and Death Benefits (DFRDB) schemes have for many years been closed to new Members and, as a consequence, contributory membership has steadily declined although there was a small increase in contributors in 2007–08 as a result of recipient Members re-entering the Australian Defence Force (ADF). Some 4600 contributing Members and in excess of 57 000 pensioners now rely upon the Authority’s administrator, ComSuper, for the management and delivery of their superannuation entitlements.
During 2008–09 ComSuper focussed on improving its performance against key deliverables, specifically paying correct and timely benefits to members, sending correct and timely statements to members and improving service delivery. I am pleased to report that the performance against each of these areas has improved during the past year.
The Authority has continued to seek improvements in communications with Members including an increase in online communication. The year saw additional functions introduced to the DFRDB Scheme website. Members are now able to change their details online, download their statements and view transactions and investments online. Pensioners are now able to change their bank details online and download payment summaries for the previous financial year. Members may now access an increased number of online information seminars.
With the support of the Authority, ComSuper has continued to participate in the Inter Departmental Working Group for current and former ADF members and their families which has resulted in enhanced and streamlined invalidity assessment processes.
On 31 October 2008, the Government announced that they would be consolidating the trustee boards that currently manage the main Australian Government superannuation schemes. As a result, on 1 July 2010 the DFRDB Authority will merge with the MilitarySuper Board of Trustees and ARIA (the Trustee of the civilian schemes - PSSap, PSS and CSS) to form a single trustee board. The Authority and ComSuper will continue to work to ensure a smooth transition to these new arrangements.
On behalf of all Authority Members I would like to thank ComSuper staff for their continuing efforts in servicing Members of the schemes over the year. I commend my fellow Authority Members for their commitment and assistance throughout the year.
Yours faithfully
Leo Bator
Chairman
DFRDB Authority
18 August 2009