Below is a transcript on the speech by Senator Lundy to the Senate on the third reading of the Defence Force Retirement and Death Benefits Amendment (Fair Indexation) Bill 2010 from the 16th June 2011. The rest of the speeches, discussion and division results from the third reading are available on the Hansard website for [...]
by Consie Larmour
What will fair indexation cost
The first year’s gross cost of $42 million, which will compound, is a little more than one tenth of one per cent of the 2007/08 budget surplus. There will be indisputable clawback of approximately 40% due to increased income tax and GST collections and a reduction in Age Pension expenditure. Due to their low superannuation [...]
The Matthews Report
On 26 June 2008 the Minister for Superannuation and Corporate Law, Senator the Hon Nick Sherry, announced the implementation of the 2007 ALP election commitment to review the indexation arrangements for Australian Government superannuation pensions. This review was necessary because the Howard Government and the Department of Finance would not make available relevant actuarial costings. [...]
Campaign background for pension indexation
Pension Indexation Campaign What is this campaign about? Commonwealth superannuation pensioners, (former Commonwealth public servants and former Defence Force personnel) have their superannuation pensions indexed by the CPI, an indexation tool abandoned more than a decade ago for other Government funded pensions. This issue affects almost 350,000 senior Australians whose average pension is now less [...]
