Page 4195 - Week 15 - Thursday, 17 December 1992

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CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY

LEGISLATIVE ASSEMBLY QUESTION

Question No 457

Legislative Assembly Members Superannuation Scheme

Mr Humphries - Asked the Chief Minister upon notice on 8 December 1992:

(1) Does the superannuation scheme, into which MLAs pay,

comply with the requirements of the National Occupational

Superannuation Standards.

(2) If not, why not.

Ms Follett - The answer to the members question is as follows:

(1) The provisions of the Superannuation (Legislative Assembly

Members) Act 1991 are generally consistent with the

requirements of the Occupational Superannuation Standards Act

1987.

2) In common with other unfunded superannuation schemes the

arrangements established by the Superannuation (Legislative

Assembly Members) Act 1991 have not required a determination by

the Insurance and Superannuation Commission as to compliance

with the Occupational Superannuation Standards Act 1987.

The introduction of the Superannuation Guarantee legislation may require minor amendments to the Superannuation (Legislative Assembly Members) Act 1991, depending on the guidelines to be developed by the Insurance and Superannuation Commission for assessing compliance by unfunded schemes.

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