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Tuesday, 23 August 1983
Page: 25

Mr MOORE —by leave-The statement just made by the Minister for Finance (Mr Dawkins) is extremely general and relates to a report which I believe to be very significant in the area of superannuation. All honourable members would be aware that considerable debate is going on within the community about government proposals in this area. The report commissioned from E. S. Knight and Co., very imminent actuaries, certainly points to a very large area of inquiry. This can only underline to honourable members the concern that the general public would have at the way in which superannuation payments are made by the state as opposed to the private sector. There is no doubt that the large, unfunded commitments of the Public Service superannuation scheme will increasingly place a very significant load on the annual Budget figures.

If one looks through the areas that this report covers, one will see, in terms of quantitative issues, coverage employer's contributions, pension or lump sum; on qualitative issues, the benefits derived from that, such as resignation benefits, special arrangements and, most importantly, funding. All of these matters are raised in this report. I can well understand that many people who view this report would seek to push it to one side or certainly not elaborate on it. I hope that those who are concerned will read the report and make inquiries from the private sector as to the comparisons between the two schemes that are offered.