Promised Compensation

{Published on 12 November 2014}

  PR 12 Nov 14  

The Chairman of ASIC, Mr Greg Medcraft, has claimed that Australia is a ‘Paradise’ for white-collar criminals – a statement he was forced to retract by the Acting Assistant Treasurer, Senator the Hon Mathias Cormann.

A copy of a purported Deed of Variation attested by a well known white-collar criminal has been provided to the Acting Assistant Treasurer, along with two Deeds that confirm the entitlement of widows to receive a survivorship pension.

The document attested by the well known white-collar criminal, Ken Jarrett, purports to abrogate the right of widows of qualifying male officers to receive their survivorship pensions.

The Australian Labor Party has promised 100% compensation for members and beneficiaries of ASIC and APRA regulated superannuation funds who suffer a loss due to theft or fraudulent conduct by current or former trustees of their fund.

The Leader of the Opposition, the Hon Bill Shorten MP, has been asked to confirm if he is elected the next Prime Minister, will he keep the promise to pay 100% compensation to widows who have not been paid their survivorship pensions.

A response from the Leader of the Opposition is awaited by the widows.