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CPSU seeks retirement feedback
THE union representing Commonwealth public servants has sought feedback from members on proposals for key changes, including more flexible arrangements on superannuation, aimed at retaining mature age workers in the Australian Public Service.
The Community and Public Sector Union (CPSU) is seeking feedback on proposals to pursue early introduction of transition to retirement arrangements in the Australian Public Service, which it said is an important priority that can deliver significant benefits to employees above minimum retirement age.
The union said that, allied to this, are options such as allowing members of the Commonwealth Superannuation Scheme (CSS), aged 54 years and 11 months, to transfer to the new Public Sector Superannuation Scheme accumulation plan while preserving their CSS contributions.
It said this arrangement could also be attractive to employers, as it might reduce the need for additional work in establishing Australian Workplace Agreements or provide additional incentives to retain key employees.
The union also raised the issue of superannuation pensions being based on the consumer price index rather than a wage-based index — something it said was continuing to cause concern among mature age workers in the public sector.
The CPSU indicated it would be continuing to support moves to have superannuation pensions based on movements in male total average weekly earnings, rather than the consumer price index.
The union said that while it supports measures to fund the Commonwealth’s currently unfunded superannuation liability, it does not accept that establishment of the Future Fund represents the only option.
“The Future Fund represents only one option, and the CPSU does not support the full privatisation of Telstra as a means of meeting this future liability,” it said.
AUTHOR
Mike Taylor
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