Sent:	Thursday, 25 January 2001 6:41 PM
To:	'super.sen@aph.gov.au'
Subject:	Senate committee submission

SELECT COMMITTEE ON SUPERANNUATION AND FINANCIAL SERVICES:

(contributors submission)

As a forty year contributor to the Commonwealth Superannuation Scheme I take
this opportunity to present to the Committee my desire to see market equity
in the formula applied to indexing of pension payments.

Whilst employed within a Government Business Enterprise I have chosen to
maintain my support for CSS as a contributor despite alternatives presented
to me. I have done this on the basis that there be no deterioration in the
base upon which the scheme is built, in fact I have an expectation that the
base be further improved.

By way of example CSS pensions have been indexed by CPI formula to the value
of 3.9% over the past three years. Corresponding wage movements in most
government sectors have increased between 8% and 12% over the corresponding
period.

Maintaining real value and relativity in a pension based environment is
important and I urge that the committee consider  more equitable formula for
assessing future pension movements. Average weekly earnings movement at the
national level is seen as being a far more acceptable vehicle upon which to
benchmark an appropriate movement.  

I will await the outcome of the committee's considerations.

Yours sincerely

T.F. HOLM
GPO BOX 917
ADELAIDE SA 5001   
CAUTION