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Wednesday, 3 April 1968


Mr Minogue asked the Treasurer, upon notice:

1.   What was the rate per annum of (he highest pension increase payable to retired public servants under the recent amendment of the Commonwealth Superannuation Act?

2.   What was the number of pension increases per annum in each of the following groups: (a) $1-$104, (b) $105-$208, (c) $209-$312, (d) $313- $416, (e) $417-$520 and (f) $521 and over?


Mr McMahon - The answers to the honourable member's questions are as follows:

1.   The highest increases payable under the Superannuation (Pension Increases) Act 1967 were to former top level First Division officers who were contributing for their maximum entitlement at retirement and whose salary at retirement did not exceed the top level First Division salary ruling in December 1959. Such increases were of the order of $2,154 per annum.

2.   The final analysis of the figures of pension increases is not available because of complexities in some individual cases which are being resolved progressively. Of the 21,111 increases paid by 29th March 1968, the statistical distribution was as follows:

 

It has not been practicable to identify those cases in which only a comparatively short period elapsed between the date of retirement and 30th June 1967 or to relate increases to the number of units of pension contributed for. These and other factors are significant in making comparisons between individuals and statistical groups.







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