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Thursday, 8 June 1989
Page: 3612


Senator BOSWELL —I give notice that, on the next day of sitting, I shall move:

That the Senate-

(a) condemns the statements made by the Treasurer (Mr Keating) on 25 May 1988, on superannuation and retirement incomes, that personal end benefits will not be diminished by one cent, and by the Minister for Finance (Senator Walsh) on Tuesday, 6 June 1989, that Senator Bishop might be able to find a handful of people that have been disadvantaged by the Government's new superannuation scheme;

(b) notes that 75,000 Queensland public servants from the lowest to the highest paid will suffer drastic reductions in their lump sum retirement benefit levels, and that these cuts will not only affect the high-flying public servant but teachers, police officers and nurses; and

(c) notes that teachers retiring on an average salary of $30,000 will have their lump sum retirement benefit reduced from around $252,000 to $204,000, a loss of $48,000, and Queensland policemen reaching a retiring age of 55 will have their benefits cut from $234,000 to approximately $178,500, a loss of nearly $56,000.