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Superannuation technical committee



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99/92 6 April 1992

SUPERANNUATION TECHNICAL COMMITTEE

In line with the Coalition's commitment to discuss transitional arrangements and to consult widely and regularly with the superannuation industry, a Superannuation Technical Committee has been established to consider a range of technical issues relating to the implementation of the Coalition's superannuation policy, which was announced in Fightbackl.

As previously foreshadowed, chairing the Committee will be Professor David Knox, Associate Professor in Actuarial Studies, Macquarie University. Other Committee members will be Mr Ken Lockery, Deputy President ASFA, Mr John Maroney, Chairman LIFA

Superannuation Committee, Mr David Jarman, Chief Economist, Were Stockbroking Ltd, Mr Michael Rice, Managing Director, MJR Consultants and Mr David Orford, Managing Director, Financial Synergy.

The Coalition will welcome submissions on technical aspects of implementation from interested parties in the industry as well as the wider community which can then be referred on to the

Committee.

Issues requiring further detailed discussion, as identified in our superannuation package, will includes

- the most effective manner to treat Defined Benefit Funds;

- the development of simple transitional arrangements in respect of lump sums;

- the most effective means of providing tax rebates for

individuals with income in rollover funds; and

- appropriate administrative arrangements to ensure

responsible transfer between superannuation funds.

The Committee's advice will be set in the context of the broad budgetary and national savings strategies outlined in the Fightbackl document.

The work of the Committee will be vital in preparing the ground for draft legislation to be drawn up to facilitate the earliest implementation of our policy once in government.

FOR FURTHER INFORMATION (06) 277 4022