Changes To Australian Military Pensions/superannuation

[BrettGC]

Not sure how this one slipped by me but it's some good news for those of us on the now defunct DFRDB pension scheme and not before time:  

 

http://www.superguide.com.au/retirement-planning/military-super-benefits-to-become-fairer

 

The bottom line is military pensions will now be indexed the same way as all other government pensions and bi-annually rather than annually.  Currently military pensions are only indexed according to the CPI (Consumer Price Index) whereas other government pensions are based by the better of the CPI and Pensioner and Beneficiary Living Cost Index with reference made to the Male Total Average Weekly Earnings.

 

The chart below explains why the change is warranted and long overdue:

 

 

There was something good to come out of that bloody budget!

 

 

[i am bob]

Maybe Canada will smarten up and change to this as well...? Nah! It would either cut into the Parliamentary Pension increases or their bar bill... Pick one (or both)!!!

:)

[BrettGC]

Maybe Canada will smarten up and change to this as well...? Nah! It would either cut into the Parliamentary Pension increases or their bar bill... Pick one (or both)!!!

:)

 

Don't you just love it when they vote their own pay rises in?  We're in this xxxx up situation in Australia, where the Premier of Queensland (For our American friends, a Premier is much the same as as a Governor = Australia's 3rd most populous state) is actually paid more than the President of the US.  Apologies for the profanity guys, but it really gets on my goat.  

[MacBubba]

Don't you just love it when they vote their own pay rises in?

 

I suppose they could justify it by saying that they are foregoing private sector careers...but, how many of those in the private sector have a say in their pay raises?