• DFRDB Members have guaranteed benefits irrespective of global financial turmoil
• Family Law
  (De facto) Same sex legislation
• Same sex legislation passed
• Annual deductible amount previously claimed from the Tax Office
• Consumer Price Index (CPI) adjustment to pensions and early payment of 01 January 2009 pension
• Government announcement regarding administration arrangements for Australian Government superannuation schemes
• 2007/08 Annual Report to Parliament (PDF )

Government announcement regarding administration arrangements for Australian Government superannuation schemes

The Minister for Finance and Deregulation and the Minister for Superannuation and Corporate Law today released a joint press statement in which they announced reforms to improve and consolidate governance and administration of Australian Government Superannuation Schemes, including the MSB, DFRB and DFRDB Schemes.

Central to the reforms will be the establishment of a new Board of trustees for the Military and civilian government superannuation schemes. In essence from 1 July 2010 the Boards of MilitarySuper, and Aria (the trustee for the CSS, PSS and PSS Accumulation Schemes) as well as the Defence Force Retirement and Death Benefits Authority will merge to form a single trustee Board. The new Board will be the trustee of the main civilian and military super schemes.

Importantly the Ministers’ statement provides an assurance that the reforms will not affect members’ superannuation benefits in any way. Each scheme will retain its own legislative base and provisions.

The DFRDB Authority will be working with Government and the Department of Defence concerning implementation of the reforms. It is the Authority’s intention to ensure that any new arrangements continue to recognize the unique nature of Military service.