AUSTRALIA - The Labor party has criticised prime minister John Howard's government over increased taxes on some military pensions.
The main opposition party singled out tax hikes brought in for members of the Military Superannuation and Benefits Scheme (MSBS), as a result of the new simplified superannuation laws.
Figures from Labor stated that members who took a lump sum upon retiring at 45 years old, after 22 years of service, faced a 413% tax hike on what they would have paid before the new laws were implemented.
The party also criticised the Howard government for protecting another military super fund, the Defence Force Retirement and Death Benefits Scheme (DFRDB) from tax hikes.
Howard's government was called upon by Labor to address these issues which, it said, had been ignored since April.
Labor assured voters it would take these matters in hand if elected.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.