Compensation for Widows

{Published on 29 October 2014}

PR 29 Oct 14  

The Chairman of the National Australia Bank (NAB), Mr Michael Chaney AO, and other NAB Board Members have been recently provided with copies of genuine Deeds of an occupational pension fund established in South Australia on 23 December 1913 {Refer below}. This fund was once known as The Provident Fund.

The genuine Deeds have until recently been criminally concealed from the members and beneficiaries of this fund by a Victorian resident purported “Trustee” and were only obtained with the assistance of the Deputy Premier and Attorney-General of South Australia, the Hon John Rau MP, and the Attorney-General’s Department.

Once in possession of some of the Deeds that have been criminally concealed from the cestuis que trust (ie members and beneficiaries) the fraudulent Breach of Trust is remarkably easy to prove.

A document attested by a convicted felon , Ken Jarrett, purports to abrogate the right of widows of qualifying male officers to receive a survivorship pension.

This right to a survivorship pension has been confirmed by a Select Committee of the Legislative Council of South Australia as well as by two Deeds that have been criminally concealed from the widows.

The widows of former members of The Provident Fund (aka Elders IXL Superannuation Fund) are entitled to a modest pension of 55% of the pension entitlement of their late husband.

The widows of former Senators and Members of Parliament are entitled to a pension of up to 83% of that of their late husband and for the financial year ending 30 June 2014 the average pension payment was a generous $80,169 per annum.

The Coalition Government has made a PROMISE that persons who have a beneficial interest in a superannuation fund regulated by APRA and ASIC will receive compensation of at least 90% if they suffer a loss due to theft or fraudulent conduct.

The Leader of the Opposition, the Hon Bill Shorten MP, delivered on the PROMISE of the Australian Labor Party to provide 100% compensation in another superannuation fraud case.

So when will the Coalition Government take action so that widows of former members of The Provident Fund receive just compensation or will this be just another BROKEN PROMISE by politicians who have their own secure and generous Parliamentary Superannuation System?