CALL FOR THE COMMONWEALTH SUPERANNUATION CORPORATION TO BE INCLUDED IN THE ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY
The Government advised the Royal Commission would consider the conduct of banks, insurers, financial services providers and superannuation funds. However, the Royal Commission’s Terms of Reference excluded the Commonwealth Superannuation Corporation (CSC) from the inquiry. The CSC administers military and superannuation funds for over 700,000 people, including 230,000 serving and former serving service personnel, and clearly plays a significant role in the well-being of our Service colleagues and their families.
There have been many wide-ranging criticisms of the CSC’s operation, and so the Returned & Services League of Australia (RSL) and the Alliance of Defence Service Organisations (ADSO) have issued a Joint Media Statement calling for the CSC to be included in the Royal Commission’s examination of these institutions. The Air Force Association supports the ‘call’ and considers at the very least, the CSC’s inclusion should provide the transparency expected from the inquiry.
Members who may have experienced issues with the CSC are encouraged to provide comments to firstname.lastname@example.org or ComSuper-Military Entitlements at email@example.com.
Carl Schiller, OAM CSM
National & Victorian President