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Tuesday, 8 November 1977
Page: 3186

Mr Neil asked the Treasurer, upon notice, on 25 October 1977:

What is the cost to revenue per annum of the Commonwealth Public Service superannuation scheme or schemes.

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

The cost to Consolidated Revenue of the benefits payable under the Superannuation Act 1922 and the Superannuation Act 1976 for 1976-77 was $161,305,152 and the estimated cost for 1977-78 is $201,500,000. These figures do not take into account the amounts paid to Consolidated Revenue by approved authorities to meet the accruing liability for the future payment to existing employees of benefits under the Superannuation Act 1976.

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