Sooner or later, retirement income is a concern for everyone, but the level of detail involved can be daunting for novices and experts alike.
CPSU helps members digest the vast amount of information on superannuation with regular, concise updates on how changes to super are likely to affect them.
Superannuation is complicated, and we don't pretend to be the experts. There is no substitute for independent financial advice. CPSU members get a free referral to a financial planner with expertise in superannuation. Contact the Member Service Centre on 1300 137 636 for more information.
Keep informed
Changes to superannuation laws might not seem important now, but they could end up costing you plenty in the long run. CPSU members can keep informed by subscribing to our Super e-news which charts all the major developments you can't afford to miss. Click here to register.
What's happening in super right now?
CPSU is continually working with the federal government to lobby for improvements to public sector superannuation and to clarify contentious aspects of existing and proposed legislation. There are a number of outstanding reform issues which were not addressed in the last federal budget which CPSU is continuing to lobby for on members’ behalf. These include:
introduction of Transition to Retirement
changing CSS and PSSdb pension indexation from CPI to Male Total Average Weekly Earnings (MTAWE)
rectifying the reversionary pension benefit arrangements that discriminates against people in an interdependency (including same sex) relationship
consider changes as unanimously suggested by the Senate Economics Committee to the taxation arrangements that will apply to ‘untaxed’ superannuation funds, like the CSS and PSSdb.
What can we expect now that the government has changed?
An ALP announcement to review PS superannuation is anticipated.
ALP support extension of interdependency arrangements to same sex
couples, as well as reviewing all HREOC recommendations re same sex
discrimination and implementing changes.
CPSU has requested clarification of ALP policy on indexation of PS
superannuation pensions.
Preparing for a Super Shock- 24 January 2008 Federal and Territory Public Servants and serving members of the Defence Force approaching retirement are in for a most unpleasant surprise when they retire, writes SCOA's John Coleman.
Public sector funds 'have most growth'- 4 January 2008 The Australian Prudential Regulation Authority (APRA)'s Superannuation Performance report, for the September quarter, showed public sector funds had the highest return on assets.
November superannuation e-news- 20 November 2007 Over the last month the CPSU has been monitoring announcements by the Coalition and Labor around public sector superannuation changes and related media reports.
