They paid members using money set aside for adverse events.
This was based on legal advice.
So they did it within the law even though it may not be reasonable/ethical.
However, it was a members fund the funds would have come from members anyway. Also if you set aside money for issues or a contingency this is exactly how it should be used.
God forbid that IOOF are smarter than their public service counterparts who are paid a lot lower and can't attract the skills.
They paid members using money set aside for adverse events.This...
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