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More GST losers: newly retired defence personnel.

More GST Losers: Newly Retired Defence Personnel

 

Laurie Ferguson - Shadow Minister for Defence Science and Personnel

 

Media Statement - 12 April 2000

 

Official advice on the Internet confirms that over 55,000 retired Defence personnel will have to wait a full 12 months for their superannuation pensions to be adjusted for the inflation effects of the GST. It also reveals that "most" recently retired military personnel will be ineligible for the Coalition's GST bonus payments for older Australians.

 

Shadow Minister for Defence Science and Personnel, Laurie Ferguson MP, says ComSuper's advice confirms that newly retired Defence personnel are another group of losers from the GST.

 

'In Question Time today the Prime Minister showed complete ignorance of the position of retiring Defence personnel,' Mr Ferguson said.

 

'Military superannuation pensions are adjusted each July based on the previous March-to-March CPI rise. This means that their pensions will not be increased for the inflation effects of the GST until July next year - a full 12 months after the event.

 

'This delay has an impact on more than 55,500 retired Defence personnel.

 

'Secondly, the Government's own superannuation agency, ComSuper, says on the Internet that "most recent retirees" will NOT qualify for the Coalition's aged person's savings bonus and self-funded retiree's supplementary bonus.

 

The full quote from ComSuper's information sheet Impact of the GST on superannuation - DFRDB and MSBS pensioners is as follows:

 

• While it is possible that some of our older recipients on low pensions may qualify for these bonuses, we believe that most recent retirees will not.

 

Until Question Time this afternoon, the official ComSuper information sheet was to be found on the Internet by selecting the Retired members option at http://www.comsuper.gov.au/msbs/index.htm

 

Since Question Time it has been impossible to gain access to that site.

 

Authorised by Geoff Walsh, 19 National Circuit, Barton ACT 2600.