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Delay in Distribution of Commonwealth Superannuation Surplus



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FEBRUARY 28, 1974

The Deputy Leader of the Opposition, Mr. Phillip Lynch,

accused the Government of depriving many widows of recently

deceased public servants of over $500.

Mr,.ยท-Lynch xvas commenting in Sydney today, on the Government’s

prolonged delay in distributing $70 million in surplus .

Commonwealth superannuation funds.

“The Commonwealth Superannuation Board recommended distribution

last year, but Cabinet has postponed the matter at least four

times, '

"Immediate action must be taken, as every day more people

forfeit their share of the $70 million, as the estates of

deceased superannuants may not be eligible for this entitlement.

"Left to Mr. Cameron's discretion the matter would languish

until after the current national superannuation inquiry is

concluded.

"Cabinet has been content to let the matter ride, apparently

using it as a lever to induce the States to back Labor's

own superannuation plans.

"This situation is clearly inequitable and morally indefensible.

"Labor should not be allowed to play politics with other

people's money.

"Urgent action must be taken."