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DFRDB (Read 2301 times)
stokerjim
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DFRDB
Jun 12th, 2018 at 9:55am
 
Some information for those on DFRDB who took the commutation option:

"DFRDB COMMUTATION: Salient points on how we are affected:

A Class Action case is being considered against the Commonwealth of Australia and the Defence Force Retirement and Death Benefits authority of the Commonwealth Superannuation Commission.
• This proposal could potentially involve a Class of some 55,000 Retired Defence Veterans belonging to the DFRDB Superannuation Scheme.
• The majority of these personnel accepted a cash advance by means of a commutation of 4 years of pension benefit on retirement.
• This was calculated on the basis of the Notional Life Expectancy of each individual.
• For many years this was communicated to superannuants ambiguously and without clarity or honesty.
• Veterans interpreted this reference to NLE as being the milestone whereby this advance of benefits would be fully repaid and discharged.
• In actuality, the Authority and the Commonwealth applied these repayments to veterans for whole-of-life, and beyond where a veteran is survived by a spouse, until the time of their demise.
• The quantum of these repayments has been influenced by indexation with original advanced commutation benefits being fully repaid years before the NLE milestone has been met.
• These repayments were also biased by the use of outdated Life Expectancy data (~c1961) thereby shortening Life Expectancy and inflating the calculation of the repayment quantum for each individual, had current LE data been used at time of Commutation - in my case 25 years out of date.
• The quantum of reimbursements also varies individual-to-individual Veteran, but repayments in the range of $2,000 to $5000 are understood to be common. Accordingly, returns to Consolidated Revenue after the commutation debt is expended are massive, with the DFRDB Scheme having been in operation over the period 1972 - 1992 under the provisions of the DFRDB Act.
• Any formal notification of the repayment period being applied for life (and then transferable to spouse) was not declared (it is understood) until the late 1980s.
• Although the DFRDB Authority provides no information of the progressive amount repaid annually, in my personal case I believe that my advance was fully reimbursed in my 65th year.
• My NLE point was 72.25 years. I am currently in my 75th year and estimate my repayments beyond the point of fully expending my original commutation benefit is in the order of $30,000 with the indexation-inflated annual reimbursement now being $3050 and inflating.
• The proposed action would seek to impose a cut-off date for reimbursement payments to be at the point where full reimbursement of the commuted advance is fulfilled.
• It should be noted that nowhere within the Act does any mention of interest charges applying on the reimbursement of commutation advances, being applied.
• Litigants would seek a full reimbursement of all monies collected by the Commonwealth following the full repayment point of the commutation advance being exceeded and that such monies be refunded in full to the litigants affected by these overpayments.
• There are other matters of similar ilk applying to DFRDB Superannuants that would potentially require to be dealt with within the primary case. These matters involve imposts made on individuals who did not take up the commutation benefit available but still suffered monetary disadvantage, as well as imposts levied on a surviving spouse.

IF YOU ARE CONCERNED ABOUT THIS ISSUE AND WISH TO REGISTER AN EXPRESSION OF INTEREST IN THIS MATTER, PLEASE CONTACT ME by email DIRECT at marganken@bigpond.com. Please spread the word to your colleagues and associates. - Ken Stone"
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Sir Spot of Borg
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Re: DFRDB
Reply #1 - Jun 12th, 2018 at 10:24am
 
Huh. This has been going on for a while

Spot
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stokerjim
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Re: DFRDB
Reply #2 - Jun 12th, 2018 at 6:35pm
 
Sir Spot of Borg wrote on Jun 12th, 2018 at 10:24am:
Huh. This has been going on for a while

Spot



Not the progress towards class action against the Commonwealth.  The issues with commutation and DFRDB have been around for some time but ir has now progressed to the point where there is enough evidence to challenge the legislation as being unfair and slanted towards the Commonwealth and not DFRDB recipients
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Sir Spot of Borg
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Re: DFRDB
Reply #3 - Jun 13th, 2018 at 9:45am
 
stokerjim wrote on Jun 12th, 2018 at 6:35pm:
Sir Spot of Borg wrote on Jun 12th, 2018 at 10:24am:
Huh. This has been going on for a while

Spot



Not the progress towards class action against the Commonwealth.  The issues with commutation and DFRDB have been around for some time but ir has now progressed to the point where there is enough evidence to challenge the legislation as being unfair and slanted towards the Commonwealth and not DFRDB recipients


Lets hope it gets sorted Sad

Spot
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stokerjim
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Re: DFRDB
Reply #4 - Jun 13th, 2018 at 10:59am
 
This may help DFRDB recipients to understand the issues:

youtube.com/watch?v=y5LCkvqEJgg

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Vic
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Re: DFRDB
Reply #5 - Mar 25th, 2019 at 5:29pm
 
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« Last Edit: Mar 29th, 2019 at 4:56am by Vic »  

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Re: DFRDB
Reply #6 - Mar 29th, 2019 at 9:10am
 
Saw 7.30 last night, and figured you guys would already be on to this one....

Thin edge of the wedge (if we are speaking of 'lump sum is a debt on your super') for ALL.  Now we see the other side of the coin - ex-defence may be a separated and presumably 'pampered' lot compared to other (LMAO), but the reality is - that other side of the coin - they are immediately subject to the whim of any government as regards their pension and super rights.

**slots this one away in his old kit bag for future reference**


Nah then - what about that lifetime income guarantee for Veterans outside of pension?
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Re: DFRDB
Reply #7 - Mar 30th, 2019 at 11:39pm
 
Anyone know the interest rate applied?  Sounds usurious to me.... what a way to treat Veterans and Ex-Service people.
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Spatchcock
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Re: DFRDB
Reply #8 - Mar 31st, 2019 at 10:12am
 
I have never been able to understand any of this.

We are told our whole lives that we must contribute to society and be productive members of society. We must obey the law, we must pay our taxes, we must wait for the light to turn green before crossing, we must do all our homework and get good grades, piercings and tattoos are dirty and not expressions of inner identity etc.

So here we have these people who are affected by these social norms and expectations so strongly that they sign on to be abused and treated like garbage for at least for years. In this time they are not paid well and are expected to place their lives on the line and potentially die for what the government says society needs.

Also during this time they are not allowed a sense of individuality they are to conform extremely and show no traits that could encourage a breakdown of discipline and order.

After their time in the military, nothing is waiting for them. They get no special benefits and if they fail to separate properly from the military they are a national security issue and a threat to order and rank of the military (eg, look at how seriously the ADF took being in the same camera frame as a politician talking party politics this week). If you are in the military you are not allowed to express a political opinion. You are apolitical. You are not allowed to allow anyone to infer that the military has or encourages a political opinion. Also if you are ex military and talk that up in a political way, and you are shaping the electorates opinion and allowing them to assume that the military is of xyz mindset, you will get a visit from ASIO.

So here we have people prepared to give all, who are mistreated for years to keep them on the urge of sanity to have them prepared to unleash the beast and all that pent up anger, who are given nothing when they leave.

They can't even have an identity. Visible tattoos and normal hair is banned. They can't socialise with their mates if they are one rank different.

There is nothing waiting for them. They get no thanks or special benefits for what they did.

And then you turn around and look at society.

There are people dealing drugs, with facial tattoos and piercings driving Ferrari's and being celebrated in popular culture as cool. People who are against everything we are supposed to tolerate in society.

And the police allow these charades to continue and call it an "ongoing investigation".

So it looks like this:

If you are prepared to die for Australia you get nothing.

If you are involved with organised crime and hate Australia and are linked with Russian, Chinese, North Korean and Syrian organised crime and have links with those governments, you can live a life of money, drink, drugs, women, cars, clothes.

If you are a wealthy entrepreneur who has exploited the needs of the population, and made millions off working class people, the government has all kinds of benefits for you, including tax dodges.

That's what it is. That's what happens. And meanwhile the values of society are changing in such a way that instead of being compared to ANZACS, soon Australian soldiers will be compared to mass murderers.

What our government does to ensure internal security is insane. The people who are there for them are treated like dog poo, to make sure they develop no long term desire to identify with the government and pose a threat of being a parallel institution or subverting legitimacy, whereas the enemy and those who exploit humanity for benefit are given whatever they want.

This is Australia.
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Re: DFRDB
Reply #9 - Apr 3rd, 2019 at 7:31pm
 
I just found out today. Spatchcock is a chicken.  Cheesy
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Vic
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Re: DFRDB and Commutation
Reply #10 - May 22nd, 2019 at 11:01am
 
To those of us on DFRDB, commutation of our pensions was a chance to get a nice lump sum at a reduced fortnightly rate.   What many didn't realise was that the reduced rate would go until you died, not until you paid it back!     There is an enquiry into Commutation under DFRDB about to happen and you have the chance to have an input into what you were told, what you expected etc.

"The Ombudsman is calling for submissions into DFRDB Pension Commutation impact on Indexation (limited to "What information was provided to DFRDB Members about the effect of ...") Close 30 June 2019. Contact ADFRA.ORG for details"

Have a look and please contribute if you can
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Vic
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Re: DFRDB and Commutation
Reply #11 - May 23rd, 2019 at 6:47am
 
Vic wrote on May 22nd, 2019 at 11:01am:
To those of us on DFRDB, commutation of our pensions was a chance to get a nice lump sum at a reduced fortnightly rate.   What many didn't realise was that the reduced rate would go until you died, not until you paid it back!     There is an enquiry into Commutation under DFRDB about to happen and you have the chance to have an input into what you were told, what you expected etc.

"The Ombudsman is calling for submissions into DFRDB Pension Commutation impact on Indexation (limited to "What information was provided to DFRDB Members about the effect of ...") Close 30 June 2019. Contact ADFRA.ORG for details"

Have a look and please contribute if you can



Here is the link for the online questions

http://www.ombudsman.gov.au/__data/assets/pdf_file/0034/99763/DFRDB-Questionnair...
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