DFRDB e-Petition to the Government – Commutation Anomaly

This petition goes directly to the Parliament.  All servicemen,servicewomen, their spouses widows/widowers, who contributed to the DFRDB scheme are affected by this anomaly, Even our partners will be paying this impost until they die if we predecease them.

 This  is an opportunity for you and your partner to have your say and help correct this anomaly. And if it doesn’t affect you then please help those who are affected by signing the petition

PLEASE SIGN & VERIFY THE PETITION NOW  

THE PETITION
Defence Veterans of Australia, as Commutation recipients of the DFRDB Scheme administered by Commonwealth Superannuation Corporation, petition the House of Representatives to  instate the National Life Expectancy data  point of each affected veteran as the point where full reinstatement of their Commutation obligation is fulfilled: and, to reimburse to each DFRDB veteran, all over-subscribed payments forfeited by direct debit by them, once their original lump sum was repaid in full.

The DFRDB Authority failed to disclose to veterans the whole-of-life impost of a Lump Sum Commutation   on superannuation payments reduced by a factor, based on redundant Notional Life Expectancy  data and an individual’s Service data. Limited disclosure of the whole-of-life deductions was made by DFRDB,  37 years after the Scheme was launched, but never to members so affected.
Direct debit by DFRDB has been incremented and escalated over time, to a level where the original lump sum has been reimbursed multiple times. This effectively means that veterans are subsidising their own benefits.
There was no definition of the term ‘commutation’ within the legislation or in any document provided by DFRDB to superannuants, until its disclosure advised above. The direct debits were shown in the legislation and the DFRDB’s Administrative Manual to be a finite amount, not an escalating continuum .
On advice from DFRDB Administration all superannuants understood Commutation as an advance of Benefits to be reimbursed to DFRDB by fortnightly debits over a finite period and at a finite rate. How deluded Veterans were through DFRDB’s failure to disclose their interpretation of the Legislation, before the fact, thereby committing Veterans to an ever increasing, spiraling, life-term DEBT-SENTENCE.

 

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