CHAPTER 1
BACKGROUND TO THE INQUIRY
Origin of the reference
1.1 On 1 December 1997, the Senate resolved that the following matter
be referred to the Select Committee on Superannuation for inquiry and
report by 14 May 1998:
The introduction of choice of superannuation fund and the need for
education of employees and employers about the implications of choice,
including investment choice.
1.2 The Senate set the following terms for the conduct of the inquiry:
The committee's inquiry is to include, but not be limited to, the provisions
of the Government's legislation on choice of fund to be introduced prior
to the conclusion of the Spring 1997 sitting of the Parliament. That, for the purposes of the inquiry the committee take evidence from
the public, superannuation providers, employer and employee organisations,
consumer groups and Government agencies and conduct public hearings
as appropriate. [1]
1.3 Following a request from the Government not to delay the legislation,
the Committee agreed to report on those aspects of the reference which
relate to the legislation by 24 March 1998.
1.4 The Government has also introduced the Workplace Relations Amendment
(Superannuation) Bill 1997 into the House of Representatives. This Bill
removes superannuation as an allowable matter under the Workplace Relations
Act. Some groups consider that this Bill is complementary to the Choice
of Funds legislation. At the time of writing this report, the matter had
not been referred to the Committee. It is therefore not commented on extensively
in the report but may be subject to a separate report by this Committee.
Conduct of the inquiry
1.5 The Committee advertised its reference on Friday 12 December 1997
in the Australian Financial Review, and on the following day, in a major
daily newspaper in each capital city.
1.6 The Committee conducted public hearings in Melbourne on 17 and 18
February, Sydney on 19 and 20 February, and in Canberra on 2 March.
1.7 77 individuals and organisations sent submissions to the Committee.
Appendices A and B list the names of those who made submissions and the
witnesses who gave evidence at the public hearings.
1.8 The Committee expresses its appreciation to those persons and organisations
who made submissions and gave oral evidence.
Footnotes
[1] Senate Hansard, 1 December 1997,
P9474.
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