Page 4617 - Week 15 - Thursday, 21 November 1991
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Thursday, 21 November 1991
__________________________
MR SPEAKER (Mr Prowse) took the chair at 10.30 am and read the prayer.
SUPERANNUATION (LEGISLATIVE ASSEMBLY MEMBERS)
BILL 1991
MR BERRY (Minister for Health and Minister for Sport) (10.31): Mr Speaker, on behalf of the Treasurer, Ms Follett, I present the Superannuation (Legislative Assembly Members) Bill 1991. I move:
That this Bill be agreed to in principle.
Mr Speaker, the Bill establishes a superannuation scheme for members of the Assembly. The Commonwealth, State and Northern Territory governments each have their own superannuation legislation. This Bill will bring the Legislative Assembly into line with the other Australian parliaments.
The standards of the scheme are consistent with those laid down by the Commonwealth in its occupational superannuation legislation for superannuation funds, both public and private. The Government believes that, at a time when superannuation provisions are being extended to all sectors of the work force, it would be inappropriate to leave Assembly members without any coverage.
The purpose of this Bill is to implement a suitable parliamentary superannuation benefit at minimum cost and to avoid the financial and administrative complexities that are faced by introducing a superannuation fund. Administration of the scheme will be the responsibility of the Legislative Assembly Members Superannuation Board as established under the legislation. The board has a duty to determine the entitlements for ex-members according to the provisions laid down in the Bill and to make decisions on invalidity applications.
The scheme will require a contribution by members. Member contributions will be 5 per cent of salary paid into the Consolidated Revenue Fund. The benefit will be equivalent to 29 per cent of salary paid for each year of service as a member, Minister or office holder.
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