Sent:	Friday, 19 January 2001 12:39 AM
To:	super.sen@aph.gov.au
Subject:	C'wealth Super Schemes Inquiry

The Secretary 
Senate Select Committee on Superannuation and Financial Services
Parliament House
CANBERRA ACT 2600

Dear Sir/Madam

This is a submission to the Inquiry into Commonwealth public sector and defence force superannuation funds and schemes.

Firstly, I am aware of evidence that CPI indexed Commonwealth public sector superannuation pensions have not kept pace with average weekly earnings over recent years.

If the object of the public sector superannuation schemes is to preserve the real value of their pensions, then they should be indexed to public sector salary increments or, alternatively, to average weekly earnings as is the case with the Commonwealth parliamentary superannuation scheme.

Secondly, if the current indexation is maintained, then it appears inevitable that many Commonwealth public servants will eventually become eligible for the old age pension. This brings into question the rationale for compulsory Commonwealth public sector superannuation schemes and defeats the purpose of those schemes which is, presumably, to support contributors for the duration of their retirement.

Yours faithfully,

Bevin Wood

19 January 2001

117 Mugga Way
RED HILL ACT 2603