Labor active on vets super
Rachel Riley
FEDERAL Labor is backing calls by exservice organisation to include the Commonwealth Superannuation Corporation ( CSC) into the Terms of Reference for the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Opposition Spokesman on Veterans’ Affairs and Defence Personnel Amanda Rishworth and Herbert MP Cathy O’Toole have written to Treasurer Scott Morrison and Minister for Veterans’ Affairs Michael McCormack to ask for the new inclusion.
In a statement to the Bulletin, the pair said while the Turnbull Government made it clear they wanted superannuation to be examined by the royal commission they had neglected to include CSC – it is a significant player in the superannuation sector especially for current and former Australian Defence Force ( ADF) personnel.
“Labor has listened to calls from the National Returned and Services League ( RSL) and the Alliance of Defence Services Organisations ( ADSO) who have also raised their concerns about the exclusion of the CSC from the Terms of Reference,” the statement read.
“In neglecting to include CSC from the Terms of Reference our service men and women cannot be satisfied that CSC is working in their best interests.
“If the Turnbull Government believes superannuation needs to be examined by the royal commission then they need to amend the Terms of Reference to include CSC.”
The pair said Labor was committed to ensuring the royal commission delivered “justice to all families and small businesses” that have suffered because of the “misconduct in the banking and financial services sector”. RACHEL RILEY