Call for banking royal commissioner to investigate military veterans' super 'debt sentence'

An advocate for military veterans is calling on the royal commissioner who led the banking inquiry to head the inquiry into a defence force superannuation scheme he believes has deprived its members of hundreds of millions of dollars.

Upon retirement, those who served more than 20 years could commute or exchange part of their superannuation for a lump sum and repay it with deductions from their fortnightly pension. What has veterans up in arms is that when they reach the age of 72 and have repaid all money owed, their pension payment did not return to the full amount.Retired Air Force squadron leader Ken Stone has been campaigning on the DFRDB issue for about a year.

He said up to 55,000 defence force personnel are affected, and he estimated they are owed at least $200 million a year for the past 40 years.

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Banking royal commission claims more scalps as IOOF bosses call it quitsIOOF chief executive, and the architect of the wealth manager's aggressive growth, Chris Kelaher will leave the company with a $1.3 million payout ahead of APRA's move to ban him. Did they quit because of the RC? Unless I missed it, still no criminal charges. I am still not seeing value for money in the banking RC. $50 million just to be told what we already knew. Could it be that the LNP were right? There was no point in having a banking RC? I want justice
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