Bulletin No: 51 Volume: 23 Thursday 20 April 2017
To: All UFU MEMBERS
Further Bulletin:REVIEW OF ESSSuper SCHEME HAS COMMENCED
Members are advised if they are considering retirement or resignation they should wait until the outcome of the following review.
As previously advised, The Andrews Government announced in 2016 that it would commence review of ESSS Defined Benefit Fund within the ESSSuper scheme in 2017, with a report expected to be published in June 2017.
As a result of concerns raised by members, the Government has agreed to review the following:
- The current maximum benefit multiple
- Prospective service age of 55 for death and disability benefit purposes
- Impact of the scheme according to gender, part-time work, or people accessing parental leave or leave without pay
- Superannuation policy for workers on executive contracts
This scheme was established in 1985 and in many ways, does not reflect the current working environment. It may disadvantage workers who have entered the industry later in life or who have chosen flexible working arrangements.
This review has been welcomed by the Emergency Service unions, including the UFU. The Emergency Services Federation, comprising of the Police Association, the Ambulance Employees Association, and the UFU, has formed a working party and has agreed to create a joint submission. Additionally, the Federation has co-opted legal expertise regarding superannuation to ensure that our collective members’ interests are protected. Members will be kept informed.
For any inquiries, please contact Peter Marshall, 0419 127 004.
Members are advised to defer their retirement plans as we are expecting that the issue regarding contemporary adjustments to the ESS scheme should be part of any findings given that the scheme was originally established in 1985.
Strength in Unity
READ OUT AT MUSTER AND PIN ON NOTICE BOARD
Authorised by Peter Marshall, Branch Secretary