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Defence Forces retirement benefits



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FOR PRESS

, Friday 26th October 1973

DEFENCE FORCES RETIREMENT BENEFITS

(Statement by the Acting Prime Minister and Minister for Defence, the Hon. L.H.Barnard MP)

The Minister for Defence (Mr Lance Barnard) announce

today that anomalies had been revealed by the application

of the "no detriment" provisions of the new DFRB scheme >

particularly in relation to officers who "froze" their

contributions under the old scheme. He said that the anoma

would be .removed by the introduction of amending legislation

as soon as practicable, probably in the Autumn session, and

would be retrospective to 1 October, 1972. "

In essence, this means that those who "froze"

their contributions to the old scheme and who therefore

would have received a lower pension be given the opportunity

to purchase sufficient service to guarantee them the

pension they would have recevied had they not "frozen".

Mr Barnard added that in line with undertakings

he gave in the Parliament when the relevant Bills were beinc

''"debated, a number of other matters including post-retirement

pension adjustments and reversionary and invalidity benefits

were still under examination. He forecast the introductior

of amending legislation in the Parliament early next year

to give effect to any changes to be made in the scheme.

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