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Thursday, 9 December 1971
Page: 4522

Mr Whitlam asked the Treasurer, upon notice:

(1)   Did the former Prime Minister announce on 25th September 1969 (Hansard, page 1997) that on the basis of Sir Leslie Melville's report of February 1968 his Government intended to legislate for transferability of superannuation rights for those employed by the Commonwealth who choose to move to public employment with the States.

(2)   Which schemes has he declared to be eligible superannuation schemes for the transferability of Commonwealth superannuation since the amending Act came into operation on 25th May 1971.

(3)   With which State superannuation schemes is he conducting negotiations.

Mr Snedden - The answer to the honourable member's question is as follows:

(1)   Yes.

(2)   Schemes that have been declared eligible superannuation schemes are the Superannuation Fund and the Provident Account established under the Superannuation Act 1922-1971 and the Defence Forces Retirement Benefits Fund established under the Defence Forces Retirement Benefits Act 1948-1971. No State schemes have so far been declared.

(3)   There are no negotiations being conducted with State schemes at this time. Persons moving from the Commonwealth Superannuation Fund to most State Public Service superannuation funds may purchase with the refund of contributions received from the Commonwealth fund, the employees' share of fully paid units of pension in the State fund, and the State accepts responsibility for the employer obligation in re -peel of such units. Where such employees do noi have the opportunity of having this type of preservation arrangement applied to them, they have available a deferred benefit under the Superannuation Act 1922-1971. Thus, in either event the employees' benefits are preserved for them.

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