North Queensland veterans will benefit from the Government's legislation to deliver fair indexation which was introduced into Parliament last week, North Queensland based Senator Ian Macdonald said today.
Senator Macdonald said the introduction of this legislation fulfils the Abbott Government's long standing commitment to veterans across Australia.
"The Government promised to deliver fair indexation to Defence Forces Retirement Benefit (DFRB) and Defence Force Retirement and Death Benefit (DFRDB) scheme superannuants aged 55 and over from 1 July 2014. Our legislation this week delivers on this promise", Senator Macdonald said.
“The Coalition promised fair indexation in 2010, and this commitment was restated before the last election. In fact, the Coalition introduced Bills into the last Parliament which were defeated by the combined vote of the then Labor government and the Greens.
"The introduction of this legislation means that military superannuants and their families will finally get the fair go they deserve".
From 1 July 2014, DFRB and DFRDB superannuants aged 55 and over will have their benefits indexed in line with age and service pensions. As promised, the fair indexation provisions will also extend to reversionary (widow) pensioners aged 55 and over.
"Addressing fair indexation was an article of faith for the Abbott Opposition and will now be delivered by the Abbott Government," Senator Macdonald said.
"This Government has long recognised the unique nature of military service and the sacrifices military personnel and their families make on behalf of all Australians. Australia’s veterans have waited long enough for this reform."