Bob McMullan, Member for Fraser, Annette Ellis, Member for Canberra, and Senator Kate Lundy, Senator for the ACT, have welcomed today’s announcement that Mr Trevor Matthews will lead a review of the indexation arrangements for Australian Government superannuation schemes for the Minister for Superannuation, Senator the Hon Nick Sherry.
“This review delivers on the Government’s election commitment to examine the current indexation arrangements. While we are disappointed that the review was not started within six months of the election, we welcome that work on this commitment is now underway.
“We welcome that the review will be completed within the 2008 calendar year, reporting on its findings in time for consideration for next year’s budget.
“This inquiry will for the first time publicly establish the full cost of any changes to the indexation of Australian Government superannuation schemes. This information, withheld by the former Government, will allow the implications of any changes to be properly considered.
“We welcome the appointment of Mr Trevor Matthews to lead the review. His experience as the president of the Institute of Actuaries of Australia will be of great benefit to the review. He is an ideal person to properly assess and report on the appropriateness and cost of changes to the current indexation arrangements.
“We have been representing our constituents’ concerns on this issue for some time, and we are glad that the new Government has taken action to respond to those concerns.
“We look forward to the timely completion of Mr Matthews’ report, and to the Minister’s response.”
Information about the review, including its terms of reference, will be available at www.finance.gov.au/super.
Contact: Rachel Allen – 0418 488 295 (Lundy) Tony Hodges – 0408 690 861 (McMullan) Brenton Sloane – 0431 252 698 (Ellis)
