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Wednesday, 13 June 1984
Page: 2898

Senator Dame MARGARET GUILFOYLE(11.15) —I wonder whether I could seek a response from the Minister on the matter of redundancy which has been raised by a number of associations. It seems from representations made to us that there were certain understandings with regard to redundancy payments, whereas the provisions of the Bill before us relate to the possibility of retirement at an earlier age and not simply to a 5 per cent tax on a redundancy payment. The provisions in most schemes where there can be an earlier age of retirement, but usually with some loss of benefit, seem not to be the understanding that pilots, engineers and others have as a result of discussions with the Government. I simply pass these representations on and ask whether undertakings were given by the Government with regard to redundancy payments that relate to a 5 per cent tax and do not relate to other provisions within superannuation schemes for earlier retirement dates.