All the latest news and views from the CPSU team
Tasmanian Association of State Superannuants
EVERYBODY seems to be interested in your superannuation arrangements at the moment.
The CPSU recently reported calls by the TCCI for the government to sell off RBF or if not feasible merge it with another fund. The TCCI also suggested the government consider changing the design of the defined benefit scheme to reduce the scheme’s overall liability. This means reducing scheme members’ entitlements, which they would receive when they retire.
Late last year the Legislative Council Member for Western Tiers, Greg Hall, asked a series of questions of the government including if the government had considered the option of closing the defined benefits scheme for existing members, or stopping accrual of benefit multiple factor. The government is yet to respond to these questions.
Members have every right to be concerned about the implication in these questions that entitlements, that people have planned and contributed for across their whole career could not be reduced in order to limit the unfunded liability. It’s not fair and the government should make it very clear they have no intentions of going down this course.
While the CPSU will always work to protect the superannuation interests of Members, there’s also another group who are interested in state service superannuation.
The Tasmanian Association of State Superannuants (TASS) is a voluntary non-political body of retired Tasmanian state government employees. Its major objective at present is to lobby the government for an equitable form of indexation of RBF pensions. The annual pension indexation rate, based on CPI, falls short of the actual living costs of retirees.
TASS invites current state service employees and potential RBF pension recipients to join and support its campaign. The CPSU strongly supports the efforts of TASS and encourages members to join. You can find out more at www.tass.org.au or call 0448 731 845.
TASS brochures are available in the CPSU office.