Second Reading Speeches

Parliamentary Superannuation Amendment (Removal of Excessive Super) Bill 2009

Type
Private
Sponsor(s)
FIELDING, Sen Steve
Originating house
Senate
Status
Not Proceeding
Parliament no
42

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Summary

Amends the

Parliamentary Contributory Superannuation Act 1948
to: terminate the Parliamentary Contributory Superannuation Scheme; require existing scheme members to choose a complying superannuation fund in line with the arrangements applying to new parliamentarians since 2004; and require the Commonwealth to pay into the complying superannuation funds chosen by members their respective commuted superannuation benefits and ongoing superannuation contributions.

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