Judges’ pension laws need to change: Law Council
The Law Council of Australia is calling on the Federal Government to address judges’ pension laws, which it says has the potential to discriminate against the former spouses of judicial officers.
The operation of the Judges’ Pension Act in divorce proceedings is inconsistent with the Sex Discrimination Act, according to Law Council president, John Corcoran.
“Under the current legislation, the spouse of a former judicial officer is only entitled to a percentage of the member’s actual pension payments, rather than their own separate fund over which they have control,” Corcoran said.
While the Law Council believes that very few superannuation schemes operate in this manner, those that do should be closely examined, it said in a statement.
“In general, we believe any superannuation schemes that have the potential to discriminate against either party must be closely examined and the problem urgently addressed,” Corcoran said.
Recommended for you
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
Private market secondaries manager Coller Capital has unveiled a new education platform to improve advisers’ and investors’ understanding of secondaries.